Storefront Property with Pole
For Sale
$849,900
5010 S M-106, Stockbridge, MI 49285
Commercial Sale, Stockbridge, MI
Property Size7,400 SF
Lot Size3.00 Acres
Price / SF$114.85
Days on Market260
Property Features for 5010 S M-106
General Information
Property type
Commercial Sale
Property subtype
Retail
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Elementary school district
Stockbridge
Middle school district
Stockbridge
High school district
Stockbridge
Directions
At the intersection of M106 and M52
Subdivision
Ingham County - 20
Standard status
Active
APN
33-16-16-34-200-012
Size
7,400 SF
Lot size
3.00 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
S 34-1-6-1 COM AT THE NE COR SEC 34 -S ALNG E SEC LN 180 FT TO POB -S 150 FT -W 592 FT -N 330 FT TO N SEC LN -E 232 FT
Tax Annual Amount
7172
Legal Description
S 34-1-6-1 COM AT THE NE COR SEC 34 -S ALNG E SEC LN 180 FT TO POB -S 150 FT -W 592 FT -N 330 FT TO N SEC LN -E 232 FT
Utilities
Sewer type
Septic Tank
Heating system
Forced Air
Water source
Well
Amenities
pole barn
Building Details
Year built
1972
Floors in Building
1
Number of units
1
Building materials
Aluminum Siding
Listing Agency:
Home 1st Real Estate
(517) 780-8090
Listed By:
Josh Watson · License #6501407816
(517) 812-6036
Added: Jan 7
Changed: Sep 7
Last Checked: Sep 24 at 11:06AM
MLS# 26000738
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 Stockbridge commercial property occupies 3 acres and includes a storefront building, a 60-by-120-foot pole barn, and tanning equipment that remains with the sale. The south portion of the building is occupied by a medical marijuana business under an existing lease, creating an established income component. The property was built in 1972 and features aluminum siding, forced-air heating, a private well, and septic service. Its configuration brings together customer-facing commercial space and substantial auxiliary storage in one property.
Key Highlights
- 3‑acre commercial property in Stockbridge, MI
- 60‑by‑120‑foot pole barn included
- Medical marijuana business occupies the south side under an existing lease
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
$51,033
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
6.00%
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%
$1,020,660
$1.0M
Cap Rate 7%
$729,043
$729.0K
Cap Rate 9%
$567,033
$567.0K
Market Conditions
NOI Build-Up for 7,400 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
$88.8K $12.00/SF
− Vacancy
−$15.9K −$2.15/SF
EGI
$72.9K $9.85/SF
− OpEx
−$21.9K −$2.96/SF
NOI
$51.0K $6.90/SF
Area
Ingham County, MI
Vacancy
17.90%
Lease Rate
$12.00 /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%
$1,020,660
Cap Rate 7%
$729,043
Cap Rate 9%
$567,033
Alternative Uses
Best Use
Retail
$729.0K
$637.9K – $850.6K
NOI $51,033 @ 7.0% cap · market cap 6.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,223 @ 7.0% cap · market cap 9.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
59
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49285, MI
5,866
Population
2,686
Households
2.2
Avg Household Size
44
Median Age
23%
College-Educated
91%
High-School Grad
76.0 sq mi
ZIP Area
77
Density / Sq Mi
$72,578
Median Household Income
$46,530
Median Earnings
$814
Median Rent
$208,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Commercial site combines leased occupancy, accessory storage, and well and septic service.
Where is this storefront property located?
The property is located at 5010 S M-106 Stockbridge, MI.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: 3‑acre commercial property in Stockbridge, MI; 60‑by‑120‑foot pole barn included; Medical marijuana business occupies the south side under an existing lease
