Medical Office Condo
For Sale
$311,000
B-3901 Stonegate Park, Saint Joseph, MI 49085
Suite B includes reception, waiting areas, six offices, two bathrooms, and 2024 HVAC in a well-maintained medical condo building.
Property Size2,046 SF
Price / SF$152
Days on Market235
Property Features for B-3901 Stonegate Park
General Information
Standard status
Active
Size
2,046 SF
Additional Details
Office Units
5
Taxes and HOA fees
Annual Taxes
$3,683
Listing Agency:
Core Real Estate, Inc.
(269) 429-8001
Listed By:
Loren Gerber · License #6506008606
(269) 921-0754
Source:
Exprealty
Added: Mar 3
Changed: Oct 13
Last Checked: Oct 23 at 7:31AM
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 Core Real Estate, Inc.
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Suite B (#200) is located within Stonegate Medical Center, a building with five separate medical condo units. The office layout includes a reception and waiting rooms, six offices that could be expanded to eight, two bathrooms, and a utility area. The suite is served by a covered entrance that opens into a large entry foyer for the units.
The property is described as being at the corner of Hollywood and Maiden Lane, with high visibility across from a hospital outpatient complex. Ample parking is available, and the building and landscaping are maintained.
The suite was last used as an orthopedic office, and it benefits from new furnace and A/C installed in 2024. The listed suite size does not include the allocated common area, for an overall total provided with the unit.
The property is described as being at the corner of Hollywood and Maiden Lane, with high visibility across from a hospital outpatient complex. Ample parking is available, and the building and landscaping are maintained.
The suite was last used as an orthopedic office, and it benefits from new furnace and A/C installed in 2024. The listed suite size does not include the allocated common area, for an overall total provided with the unit.
Key Highlights
- Suite B (#200) in Stonegate Medical Center, 2,046 SF plus 427 SF allocated common area (total 2,473 SF).
- Medical condo unit with reception and waiting rooms, six offices (expandable to eight), two bathrooms, and a utility area.
- NEW furnace and A/C installed in 2024.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,813
Cap Rate
7.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$456,260
$456.3K
Cap Rate 7%
$325,900
$325.9K
Cap Rate 9%
$253,478
$253.5K
Market Conditions
NOI Build-Up for 2,046 SF
Gross rent
$43.7K $21.36/SF
− Vacancy
−$5.7K −$2.78/SF
EGI
$38.0K $18.58/SF
− OpEx
−$15.2K −$7.43/SF
NOI
$22.8K $11.15/SF
Area
Berrien County, MI
Vacancy
13.00%
Lease Rate
$21.36 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$456,260
Cap Rate 7%
$325,900
Cap Rate 9%
$253,478
Alternative Uses
Best Use
Healthcare Medical
$325.9K
$285.2K – $380.2K
NOI $22,813 @ 7.0% cap · market cap 7.34%
Second Best
Office B
$322.0K
$281.7K – $375.7K
NOI $22,539 @ 7.0% cap · market cap 7.25%
Theoretical Best
Office A
$430.5K
$376.7K – $502.3K
NOI $30,137 @ 7.0% cap · market cap 9.69%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
5
Office units
Location Intelligence
Trade Area within ½ mile
456
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 49085, MI
24,047
Population
11,468
Households
2.1
Avg Household Size
44
Median Age
49%
College-Educated
97%
High-School Grad
24.1 sq mi
ZIP Area
998
Density / Sq Mi
$101,763
Median Household Income
$58,316
Median Earnings
$1,099
Median Rent
$287,300
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Medical Office Space - Suite B includes reception, waiting areas, six offices, two bathrooms, and 2024 HVAC in a well-maintained medical condo building.
Where is this medical office space located?
The property is located at B-3901 Stonegate Park Saint Joseph, MI.
What is the asking price?
The asking price for this property is $311,000.
What are key features of this property?
This property features: Suite B (#200) in Stonegate Medical Center, 2,046 SF plus 427 SF allocated common area (total 2,473 SF).; Medical condo unit with reception and waiting rooms, six offices (expandable to eight), two bathrooms, and a utility area.; NEW furnace and A/C installed in 2024.
