Auto Service Building For
For Sale
$545,000
Saint Joseph, MI 49085, Saint Joseph, MI 49085
Well-maintained 7,120 SF auto service building on 0.422 acres.
Property Size7,120 SF
Lot Size0.42 Acres
Price / SF$76.54
Days on Market205
Property Features
General Information
Standard status
Active
Size
7,120 SF
Lot size
0.42 Acres
Property subtype
Retail
Building Details
Building Size
7,120 SF
Year Built
1952
Listing Agency:
Signature Associates
(616) 822-6310
Listed By:
Joe Rizqallah
(616) 822-6310
Source:
Tcnworldwide
Added: Jan 27
Changed: Aug 11
Last Checked: Aug 20 at 5:51AM
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 Signature Associates
Investment Insights
Based on property information with market context.
This is a well-maintained auto service building, offered for sale for the first time. The building has over 7,000 SF and is situated on a 0.422-acre lot. Constructed with a steel frame and concrete block, the property is zoned C - Commercial Business District. It features ample power, making it suitable for auto-related uses. The site includes a fenced area designed for semi-trucks, deliveries, and repaired vehicles. The property is equipped with five overhead doors. The previous owner operated an auto service business at this location for over 50 years.
Key Highlights
- Over 7,000 SF auto service building on 0.422 acres.
- C - Commercial Business District zoning.
- Ample power suitable for auto‑related uses.
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
$31,809
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
5.84%
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%
$636,180
$636.2K
Cap Rate 7%
$454,414
$454.4K
Cap Rate 9%
$353,433
$353.4K
Market Conditions
NOI Build-Up for 7,120 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
$49.6K $6.96/SF
− Vacancy
−$4.1K −$0.58/SF
EGI
$45.4K $6.38/SF
− OpEx
−$13.6K −$1.91/SF
NOI
$31.8K $4.47/SF
Area
Berrien County, MI
Vacancy
8.30%
Lease Rate
$6.96 /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%
$636,180
Cap Rate 7%
$454,414
Cap Rate 9%
$353,433
Alternative Uses
Best Use
Retail
$1.06M
$923.9K – $1.23M
NOI $73,912 @ 7.0% cap · market cap 13.56%
Second Best
Industrial
$454.4K
$397.6K – $530.2K
NOI $31,809 @ 7.0% cap · market cap 5.84%
Theoretical Best
Office A
$1.50M
$1.31M – $1.75M
NOI $104,877 @ 7.0% cap · market cap 19.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
815
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 Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Auto shop - Well-maintained 7,120 SF auto service building on 0.422 acres.
Where is this auto shop located?
The property is located at Saint Joseph, MI.
What is the asking price?
The asking price for this property is $545,000.
What are key features of this property?
This property features: Over 7,000 SF auto service building on 0.422 acres.; C - Commercial Business District zoning.; Ample power suitable for auto‑related uses.
