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    Property profile & analytics

    2061 M-139 Benton Harbor, MI 49022

    • Retail properties
    • 2,777 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 2061 M-139

    Property size
    2,777 SF
    Property type
    Retail properties

    Description

    This exceptional retail opportunity in Benton Harbor, Michigan, presents two available suites totaling 2,777 square feet within a larger commercial building situated at 2061 M-139. Each suite offers a generous minimum of 1,388 square feet, with a maximum contiguous space of 1,389 square feet, providing flexibility for various retail businesses. The property is zoned for commercial use and boasts a prime location along M-139, ensuring high visibility and accessibility. Currently, the entire 2,777 square feet is vacant, presenting a unique chance for a single tenant to occupy the entire space or for two separate businesses to establish themselves in this thriving area. The property's location offers significant advantages, with neighboring retailers including major brands such as Meijer, Walmart, Lowe's, and TJ Maxx, creating a strong retail synergy and attracting substantial foot traffic. The property's APN is 11-03-0032-0002-26-0, and it is located in Berrien County, Michigan, with a zip code of 49022. This is an ideal location for businesses seeking high visibility and a strong customer base in a well-established retail corridor. The property is ready for immediate occupancy.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Benton Harbor
    County
    Berrien
    State
    Michigan
    Longitude
    -86.4359
    Latitude
    42.0811

    Comparable in this City

    • Value Estimation by Request
      10,640 SF

      1393 M-139

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    • Value Estimation by Request
      176,183 SF

      1944 Pipestone Rd

      Restaurants • 176,183 SF
      1944 Pipestone Rd, Benton Harbor, MI 49022
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    • Value Estimation by Request
      2,148 SF

      1662 Leeds Ave

      NURSERY, GREENHOUSE, FLORIST • 2,148 SF
      1662 Leeds Ave, Benton Harbor, MI 49022-3919
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    • Value Estimation by Request
      44,320 SF

      1475 Pipestone Rd

      NURSERY, GREENHOUSE, FLORIST • 44,320 SF
      1475 Pipestone Rd, Benton Harbor, MI 49022-2148
      View Details
    • Value Estimation by Request
      2,880 SF

      3329 Territorial Rd

      NURSERY, GREENHOUSE, FLORIST • 2,880 SF
      3329 Territorial Rd, Benton Harbor, MI 49022-7631
      View Details
    • Value Estimation by Request
      1,552 SF

      Napier Ave

      ROADSIDE MARKET • 1,552 SF
      Napier Ave, Benton Harbor, MI 49022
      View Details

    Similar Nearby for Sale

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      Versatile Commercial Property on M-139

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    Similar Nearby for Lease

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      34,000 SF Retail Opportunity

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      Retail Space on M-139 Corridor

      Retail space with high traffic count and ample parking.
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    • Contact for pricing
      2,200 SF

      Benton Harbor Retail Space Available

      176,183 SF shopping center with national brand co-tenancy.
      1940-1980 Pipestone Rd, Benton Harbor, MI 49022
      View Details
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    2061 M-139
    Benton Harbor, MI 49022
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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