Small-Bay Flex
For Sale
$200,000
16943 Wood Lane Road, Nunica, MI 49448
Commercial Sale, Nunica, MI
Property Size1,000 SF
Price / SF$200
Days on Market50
Property Features for 16943 Wood Lane Road
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Elementary school district
Spring Lake
Middle school district
Spring Lake
High school district
Spring Lake
Standard status
Active
APN
70-04-16-451-007
Size
1,000 SF
Taxes and HOA fees
Tax Description
SOURHWEST 1/4 OF THE SOUTHEAST1/4 OF SECTION 16 TOWN 8 NORTH RANGE 15 WEST CROCKERY TOWNSHIP OTTAWA COUNTY MICHIGAN.
Legal Description
SOURHWEST 1/4 OF THE SOUTHEAST1/4 OF SECTION 16 TOWN 8 NORTH RANGE 15 WEST CROCKERY TOWNSHIP OTTAWA COUNTY MICHIGAN.
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Heating system
Forced Air
Amenities
bathroom
ample power
Building Details
Year built
2026
Floors in Building
1
Number of units
1
Building materials
Vinyl Siding, Metal Siding
Roof type
Metal
Listing Agency:
Harbour Pointe Realty
(616) 481-6450
Listed By:
Stephanie Harris
(616) 520-5062
Added: Jul 23
Changed: Aug 27
Last Checked: Sep 10 at 4:06PM
MLS# 26038165
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 1,000-square-foot flex space is under construction as part of a six-unit industrial condominium building, with completion identified for 2026. The unit is designed for customization and includes a bathroom, ample power, forced-air heating, metal roofing, and a combination of vinyl and metal siding.
The development is planned as the first of four buildings. Cable is available, and the property is served by a septic tank. Its flex-space configuration provides a practical setting for businesses requiring adaptable industrial or operational space.
The development is planned as the first of four buildings. Cable is available, and the property is served by a septic tank. Its flex-space configuration provides a practical setting for businesses requiring adaptable industrial or operational space.
Key Highlights
- 1,000 SF flex‑space unit
- One of 6 small‑bay industrial condos in the first of four planned buildings
- Under construction with a 2026 year built
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
$14,757
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
7.38%
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%
$295,140
$295.1K
Cap Rate 7%
$210,814
$210.8K
Cap Rate 9%
$163,967
$164.0K
Market Conditions
NOI Build-Up for 1,000 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
$21.6K $21.60/SF
− Vacancy
−$518 −$0.52/SF
EGI
$21.1K $21.08/SF
− OpEx
−$6.3K −$6.32/SF
NOI
$14.8K $14.76/SF
Area
Ottawa County, MI
Vacancy
2.40%
Lease Rate
$21.60 /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%
$295,140
Cap Rate 7%
$210,814
Cap Rate 9%
$163,967
Alternative Uses
Best Use
Industrial
$210.8K
$184.5K – $246.0K
NOI $14,757 @ 7.0% cap · market cap 7.38%
Second Best
Flex RnD
$51.1K
$44.7K – $59.6K
NOI $3,576 @ 7.0% cap · market cap 1.79%
Theoretical Best
Multifamily LT 5
$12.44M
$10.88M – $14.51M
NOI $870,469 @ 7.0% cap · market cap 435.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
91
Businesses Nearby
Well-served
Demand for This Use
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
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Under-construction industrial space offers a customizable layout, private bathroom, and power suited to varied business operations.
Where is this flex space located?
The property is located at 16943 Wood Lane Road Nunica, MI.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: 1,000 SF flex‑space unit; One of 6 small‑bay industrial condos in the first of four planned buildings; Under construction with a 2026 year built
