Manufacturing Facility with
For Sale
$2,650,000
12463 Cleveland Street, Nunica, MI 49448
Commercial Sale, Nunica, MI
Property Size35,720 SF
Lot Size3.00 Acres
Price / SF$74.19
Days on Market96
Property Features for 12463 Cleveland Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
I-1
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 3, Bathroom 4, Bathroom 2, Bathroom 1, Bathroom 5
Elementary school district
Spring Lake
Middle school district
Spring Lake
High school district
Spring Lake
Directions
North side of M-104 just East of Power Drive
Standard status
Active
APN
70-04-16-300-015
Size
35,720 SF
Lot size
3.00 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
PART OF E 1/2 OF SW 1/4 COM N 89D 51M 18S W 668.83 FT & N 0D 47M 14S E 394.42 FT FROM S 1/4 COR, TH N 0D 47M 14S E 392 F
Tax Annual Amount
29236
Legal Description
PART OF E 1/2 OF SW 1/4 COM N 89D 51M 18S W 668.83 FT & N 0D 47M 14S E 394.42 FT FROM S 1/4 COR, TH N 0D 47M 14S E 392 F
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Heating system
Forced Air, Radiant
Cooling system
Central Air
Water source
Well
Building Details
Year built
1992
Floors in Building
1
Number of units
1
Building materials
Metal Siding
Roof type
Metal
Listing Agency:
Capstone Real Estate LLC
(616) 847-1031
Listed By:
Nathan Patterson
(616) 502-3236
Added: Jun 23
Changed: Sep 16
Last Checked: Sep 26 at 9:06AM
MLS# 26031289
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 35,720-square-foot manufacturing facility occupies approximately 2.99 acres and is currently configured for plastic injection molding. The building includes approximately 912 SF of office space and a finished 720 SF mezzanine, providing 1,632 SF of finished office and support area. Expansions completed in 1993, 1996, and 2013 complement the original 1992 construction. Improvements include upgraded electrical and water distribution, additional restrooms, new overhead and personnel doors, interior paint, and other facility enhancements.
The property has 1200a 3 Phase electrical service supported by a 1,500 KVA transformer, private well and septic systems, and a private paved drive. Clear heights range from approximately 16' to 23'. Loading features include three 14-foot grade-level overhead doors and two truck wells with dock levelers. The high-bay northern production area has approximately 24-foot clear height and is served by two overhead bridge cranes, rated at 5 tons and 10 tons. Roll-up partition doors separate the primary production areas.
The property has 1200a 3 Phase electrical service supported by a 1,500 KVA transformer, private well and septic systems, and a private paved drive. Clear heights range from approximately 16' to 23'. Loading features include three 14-foot grade-level overhead doors and two truck wells with dock levelers. The high-bay northern production area has approximately 24-foot clear height and is served by two overhead bridge cranes, rated at 5 tons and 10 tons. Roll-up partition doors separate the primary production areas.
Key Highlights
- 35,720‑square‑foot industrial facility on a 2.99‑acre site
- 1200a 3 Phase electrical service with a 1,500 KVA transformer
- Clear heights range from approximately 16' to 23'
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
$127,745
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
4.82%
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%
$2,554,900
$2.6M
Cap Rate 7%
$1,824,929
$1.8M
Cap Rate 9%
$1,419,389
$1.4M
Market Conditions
NOI Build-Up for 35,720 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
$214.3K $6.00/SF
− Vacancy
−$17.8K −$0.50/SF
EGI
$196.5K $5.50/SF
− OpEx
−$68.8K −$1.93/SF
NOI
$127.7K $3.58/SF
Area
Ottawa County, MI
Vacancy
8.30%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
35.00%
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%
$2,554,900
Cap Rate 7%
$1,824,929
Cap Rate 9%
$1,419,389
Alternative Uses
Best Use
Industrial
$7.53M
$6.59M – $8.79M
NOI $527,124 @ 7.0% cap · market cap 19.89%
Second Best
Flex RnD
$1.82M
$1.60M – $2.13M
NOI $127,745 @ 7.0% cap · market cap 4.82%
Theoretical Best
Multifamily LT 5
$444.19M
$388.66M – $518.22M
NOI $31,093,152 @ 7.0% cap · market cap 1,173.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
23 ft
Clear height
2
Dock-high doors
3
Drive-in doors
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
79
Businesses Nearby
Explore this area
Business Placement
Demographics for 49448, MI
4,027
Population
1,700
Households
2.4
Avg Household Size
39
Median Age
35%
College-Educated
93%
High-School Grad
33.0 sq mi
ZIP Area
122
Density / Sq Mi
$81,536
Median Household Income
$50,000
Median Earnings
$738
Median Rent
$266,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Power-intensive manufacturing facility with crane-served production areas, flexible partitioned space, and dedicated loading infrastructure.
Where is this manufacturing property located?
The property is located at 12463 Cleveland Street Nunica, MI.
What is the asking price?
The asking price for this property is $2,650,000.
What are key features of this property?
This property features: 35,720‑square‑foot industrial facility on a 2.99‑acre site; 1200a 3 Phase electrical service with a 1,500 KVA transformer; Clear heights range from approximately 16' to 23'
