2603 S Cleveland Ave
Office | 10,222 SqFt
Marketing description
Camelot Center, a 10,222 sq. ft. multi-tenant commercial building at 2603 S Cleveland Ave in St. Joseph, MI. This is an underperforming asset with huge upside potential. The building is well-built brick construction, recently updated inside with new carpet, lighting, and fresh paint. Each unit includes a full finished basement with separate entries—giving the potential to collect 7–8 rents total.
Currently 75% occupied on the main level with below-market rents, there’s plenty of room for growth. NOI could push near six figures if operated efficiently, and there’s even the option to create a fifth unit by adding a dividing wall in the remaining vacant space. With great visibility (5,000–10,000 cars/day), strong parking, and flexible zoning, this is a steal for an investor looking for in-place income with clear value-add potential.
Investment highlights
Underperforming Asset with Upside
Currently leased below market rents, providing immediate value-add potential. With efficient management, NOI could approach six figures.Multiple Income Streams
Each unit includes a full finished basement with separate exterior entrances—allowing for 7–8 total rent collections, additional storage income, or expansion of leasable space.Flexible Layout
Four ground-level suites with option to convert into five units by adding a dividing wall. ±4,600 sq. ft. unit recently renovated and ready for lease-up.Strong Occupancy and Tenant Mix
75% occupied with stable tenants (hair salon and sports retailer) plus updated vacant space available for immediate income growth.Quality Construction & Maintenance
Well-built brick structure, well maintained, with modern interior updates including carpeting, lighting, and paint. Newer roof on half the building.High-Visibility Location
Positioned on Cleveland Avenue with 5,000–10,000 vehicles per day, ample front and rear parking, and flexible zoning that supports a wide range of uses—retail, medical, legal, or professional office.Desirable Market
St. Joseph is a vibrant, affluent community with a strong local economy anchored by Whirlpool’s global headquarters, Spectrum Health Lakeland, and robust tourism along Lake Michigan’s shoreline.
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