Commercial Land with Pole
For Sale
$199,900
62099 M-43, Bangor, MI 49013
LAND - Bangor, MI
Property Size1,800 SF
Lot Size3.64 Acres
Price / SF$111.06
Days on Market392
Property Features for 62099 M-43
General Information
Property type
Land
Property subtype
Other
Lot features
Level, Buildable, Building, Corner Lot
Elementary school district
Bangor
Middle school district
Bangor
High school district
Bangor
Directions
From Bangor, go West on M-43. Property will be on the corner of M-43 & 62nd St.
Subdivision
Southwestern Michigan - S
Standard status
Active
APN
80-04-003-017-15
Lot size
3.64 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
49-A2 3-2-16 784-24 801-984 *** COM E 1/4 COR; TH N ON E SEC L 1314.30 FT TO E 1/8 POST IN NE 1/4 AND POB; TH N89D51'45'' W ON SD 1/8 L 528.72 FT; TH N71D39'06'' E 520.19 FT TO CL OF MONROE RD NKA M43 HWY; TH S59D43'42'' E ON SD CL 429.56 FT TO SD E SEC L; TH S 280.42 FT ON SAME TO POB. *** SPLIT ON 01/25/2021 FROM 80-04-003-017-00; FOR 2021
Tax Annual Amount
590
Legal Description
49-A2 3-2-16 784-24 801-984 *** COM E 1/4 COR; TH N ON E SEC L 1314.30 FT TO E 1/8 POST IN NE 1/4 AND POB; TH N89D51'45'' W ON SD 1/8 L 528.72 FT; TH N71D39'06'' E 520.19 FT TO CL OF MONROE RD NKA M43 HWY; TH S59D43'42'' E ON SD CL 429.56 FT TO SD E SEC L; TH S 280.42 FT ON SAME TO POB. *** SPLIT ON 01/25/2021 FROM 80-04-003-017-00; FOR 2021
Utilities
Utilities
Cable Available
Listing Agency:
eXp Realty LLC
(269) 600-4397
Listed By:
Chris Speer
(269) 779-5031
Added: Jul 21, 2025
Changed: Jul 2
Last Checked: Aug 16 at 2:06PM
MLS# 25036086
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 3.64-acre property at 62099 M-43 in Bangor, Michigan includes an approximately 1,800-square-foot pole barn and a large parking lot. The parcel also features about 2 acres of well-maintained, producing blueberry plants at the rear of the property. The site is presented as having flexible zoning, supporting plans that may be commercial or residential in nature.
The property’s frontage is on M-43, providing visibility along the main highway corridor. It is described as just minutes from downtown Bangor, with South Haven and the Lake Michigan shoreline located nearby.
For buyers, developers, or owner-users, the combination of a sizable pole barn, parking area, and productive blueberry acreage can support a range of uses, from small-business and retail-style setups to residential development plans. The existing improvements offer a ready-to-adapt structure for a workshop, storage, or service-oriented business needs, while the established blueberry area may appeal for hobby farming or continued agricultural use alongside other site plans.
The property’s frontage is on M-43, providing visibility along the main highway corridor. It is described as just minutes from downtown Bangor, with South Haven and the Lake Michigan shoreline located nearby.
For buyers, developers, or owner-users, the combination of a sizable pole barn, parking area, and productive blueberry acreage can support a range of uses, from small-business and retail-style setups to residential development plans. The existing improvements offer a ready-to-adapt structure for a workshop, storage, or service-oriented business needs, while the established blueberry area may appeal for hobby farming or continued agricultural use alongside other site plans.
Key Highlights
- 3.6‑acre property with flexible commercial/residential zoning.
- Prime exposure on high‑traffic M‑43 corridor.
- 1,800 sq ft pole barn designed for retail/small business use.**
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
$9,297
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
4.65%
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%
$185,940
$185.9K
Cap Rate 7%
$132,814
$132.8K
Cap Rate 9%
$103,300
$103.3K
Market Conditions
NOI Build-Up for 1,800 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
$13.6K $7.56/SF
− Vacancy
−$327 −$0.18/SF
EGI
$13.3K $7.38/SF
− OpEx
−$4.0K −$2.21/SF
NOI
$9.3K $5.16/SF
Area
Van Buren County, MI
Vacancy
2.40%
Lease Rate
$7.56 /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%
$185,940
Cap Rate 7%
$132,814
Cap Rate 9%
$103,300
Alternative Uses
Best Use
Flex RnD
$286.3K
$250.5K – $334.0K
NOI $20,038 @ 7.0% cap · market cap 10.02%
Second Best
Industrial
$132.8K
$116.2K – $155.0K
NOI $9,297 @ 7.0% cap · market cap 4.65%
Theoretical Best
Multifamily LT 5
$22.26M
$19.47M – $25.97M
NOI $1,557,968 @ 7.0% cap · market cap 779.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
223
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 49013, MI
5,175
Population
2,045
Households
2.5
Avg Household Size
39
Median Age
16%
College-Educated
80%
High-School Grad
57.0 sq mi
ZIP Area
91
Density / Sq Mi
$58,264
Median Household Income
$33,589
Median Earnings
$757
Median Rent
$140,100
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 - Includes a pole barn and producing blueberry acreage with flexible zoning for commercial or residential uses.
Where is this flex space located?
The property is located at 62099 M-43 Bangor, MI.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: 3.6‑acre property with flexible commercial/residential zoning.; Prime exposure on high‑traffic M‑43 corridor.; 1,800 sq ft pole barn designed for retail/small business use.**
