Corner Storefront with Expansion
For Sale
$259,000
9729 Red Arrow Highway #B, Bridgman, MI 49106
Built in 2019, this retail unit sits at a two-street corner and can connect to the neighboring space.
Property Size1,869 SF
Days on Market31
Property Features for 9729 Red Arrow Highway #B
General Information
Standard status
Active
Size
1,869 SF
Property subtype
Commercial
Additional Details
Corner Location
Yes
Building Details
Building Size
1,869 SF
Year Built
2019
Buildings
1
Stories
1869
Units
1
Listing Agency:
Wright Properties
(269) 369-4640
Listed By:
Kerry M Wright · License #6506043362
(269) 369-4640
Source:
Irishhillsfivestarhomes
Added: Aug 1
Changed: Aug 28
Last Checked: Aug 28 at 11:28AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Wright Properties
Investment Insights
Based on property information with market context.
Constructed in 2019, this storefront unit occupies the corner of Red Arrow Highway and Lake St in Bridgman, Michigan. The space can be joined to the adjacent unit with minimal work, creating an additional 1500sf of area.
The property is within walking distance of Lake Michigan and Weko Beach, along with local shops, eateries, microbreweries, and wineries. Its corner placement provides exposure along two streets while positioning the storefront within Bridgman’s commercial activity.
The property is within walking distance of Lake Michigan and Weko Beach, along with local shops, eateries, microbreweries, and wineries. Its corner placement provides exposure along two streets while positioning the storefront within Bridgman’s commercial activity.
Key Highlights
- 2019 construction
- Corner location at Red Arrow Highway and Lake St
- Adjacent unit can be connected with minimal work, adding another 1500sf
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$19,402
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.49%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$388,040
$388.0K
Cap Rate 7%
$277,171
$277.2K
Cap Rate 9%
$215,578
$215.6K
Market Conditions
NOI Build-Up for 1,869 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$28.9K $15.48/SF
− Vacancy
−$1.2K −$0.65/SF
EGI
$27.7K $14.83/SF
− OpEx
−$8.3K −$4.45/SF
NOI
$19.4K $10.38/SF
Area
Berrien County, MI
Vacancy
4.20%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$388,040
Cap Rate 7%
$277,171
Cap Rate 9%
$215,578
Alternative Uses
Best Use
Retail
$277.2K
$242.5K – $323.4K
NOI $19,402 @ 7.0% cap · market cap 7.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$393.3K
$344.1K – $458.8K
NOI $27,530 @ 7.0% cap · market cap 10.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
233
Businesses Nearby
14k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 65%
Dining 35%
Speedway
Shops & Services
5,565 visits/mo
0.4 miles
SUBWAY
Dining
3,841 visits/mo
0.1 miles
United Federal Credit Union
Shops & Services
2,261 visits/mo
0.2 miles
Super Wash
Shops & Services
1,340 visits/mo
0.3 miles
Pizza Hut
Dining
1,064 visits/mo
0.1 miles
Demographics for 49106, MI
4,822
Population
2,472
Households
2
Avg Household Size
48
Median Age
30%
College-Educated
96%
High-School Grad
14.7 sq mi
ZIP Area
328
Density / Sq Mi
$75,064
Median Household Income
$40,108
Median Earnings
$1,139
Median Rent
$243,400
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Small Town Wedding And Floral — 4158 lake st, bridgman, mi 49106
Frequently Asked Questions
What type of property is this?
Storefront property - Built in 2019, this retail unit sits at a two-street corner and can connect to the neighboring space.
Where is this storefront property located?
The property is located at 9729 Red Arrow Highway #B Bridgman, MI.
What is the asking price?
The asking price for this property is $259,000.
What are key features of this property?
This property features: 2019 construction; Corner location at Red Arrow Highway and Lake St; Adjacent unit can be connected with minimal work, adding another 1500sf
