Corner Storefront With Expansion
For Sale
Under Contract
$259,000
9729 Red Arrow Highway, Bridgman, MI 49106
COMMERCIAL - Bridgman, MI
Property Size1,869 SF
Price / SF$138.58
Days on Market346
Property Features for 9729 Red Arrow Highway
General Information
Property type
Commercial Sale
Property subtype
Retail
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Interior features
Broadband
Elementary school district
Bridgman
Middle school district
Bridgman
High school district
Bridgman
Directions
Red Arrow Highway to Bridgman. Commercial space is located on the corner of Red Arrow Highway & Lake St.
Subdivision
Southwestern Michigan - S
Standard status
Active Under Contract
Size
1,869 SF
Taxes and HOA fees
Tax Year
2024
Utilities
Utilities
Natural Gas Available
Heating system
Forced Air
Cooling system
Central Air
Water front features
Lake
Water front
1
Building Details
Year built
2019
Number of units
1
Building materials
Block
Roof type
Rubber
Listing Agency:
Wright Properties
(269) 369-4640
Listed By:
Kerry M Wright · License #6506043362
(269) 369-4640
Added: Sep 10, 2025
Changed: Aug 4
Last Checked: Aug 21 at 7:06PM
MLS# 25046354
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,869-square-foot storefront property was built in 2019 and occupies a corner position at 9729 Red Arrow Highway. The building features block construction, a rubber roof, central air conditioning, forced-air heating, broadband, natural gas availability, and one bathroom. The existing unit can be joined with the neighboring unit, creating an additional 1,500 square feet with minimal work.
The property is in Bridgman, within walking distance of Lake Michigan and Weko Beach. Nearby surroundings include shops, eateries, microbreweries, and wineries, providing an established mix of commercial and recreational destinations. Its location at Red Arrow Highway and Lake St places the storefront at a prominent intersection within the community.
The property is in Bridgman, within walking distance of Lake Michigan and Weko Beach. Nearby surroundings include shops, eateries, microbreweries, and wineries, providing an established mix of commercial and recreational destinations. Its location at Red Arrow Highway and Lake St places the storefront at a prominent intersection within the community.
Key Highlights
- 1,869 SF storefront property built in 2019
- Corner location at Red Arrow Highway and Lake St
- Adjacent unit can add 1,500 SF with minimal work
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
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
229
Businesses Nearby
18k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 73%
Dining 27%
Speedway
Shops & Services
5,565 visits/mo
0.4 miles
Dollar General
Shops & Services
4,317 visits/mo
0.5 miles
SUBWAY
Dining
3,841 visits/mo
0.1 miles
United Federal Credit Union
Shops & Services
2,261 visits/mo
0.1 miles
Super Wash
Shops & Services
1,340 visits/mo
0.2 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
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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 - Established in 2019, this commercial unit offers central air, forced-air heat, and a corner position at two prominent roads.
Where is this storefront property located?
The property is located at 9729 Red Arrow Highway 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: 1,869 SF storefront property built in 2019; Corner location at Red Arrow Highway and Lake St; Adjacent unit can add 1,500 SF with minimal work
