Self-Storage Unit with
For Sale
$399,000
Pending
6313 JUST A MERE Road, Saugatuck, MI 49453
COMMERCIAL - Saugatuck, MI
Property Size2,460 SF
Days on Market476
Property Features for 6313 JUST A MERE Road
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Zoning description
I-1
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Elementary school district
Saugatuck-Douglas
Middle school district
Saugatuck-Douglas
High school district
Saugatuck-Douglas
Directions
Blue Star Hwy to 63rd south to Just a Mere Rd
Subdivision
Holland/Saugatuck - H
Standard status
Pending
APN
20-232-013-00
Size
2,460 SF
Taxes and HOA fees
Tax Year
2024
Tax Description
UNIT 13 JUST A MERE ROAD CONDOMINIUM SEC 11 T3N R16W (2024) SPLIT/COMBINED ON 06/13/2023 FROM 20-260-015-02;
Legal Description
UNIT 13 JUST A MERE ROAD CONDOMINIUM SEC 11 T3N R16W (2024) SPLIT/COMBINED ON 06/13/2023 FROM 20-260-015-02;
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Heating system
Forced Air
Cooling system
Central Air
Amenities
half bath
laundry room
Building Details
Year built
2024
Floors in Building
2
Number of units
1
Building materials
Vinyl Siding
Roof type
Composition
Listing Agency:
BHG Connections
(269) 400-5400
Listed By:
Tammy L Kerr · License #6502433373
(616) 218-0873
Added: Apr 24, 2025
Changed: Aug 4
Last Checked: Aug 12 at 3:06PM
MLS# 25017512
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 under-construction self-storage unit features an insulated interior with upgraded heat and central air, including a 34 x 60 main level and a 14 x 30 mezzanine. The unit totals 2,460 SF and includes a front 16 x 14 overhead door and a rear 14 x 14 overhead door. A parking pad and front and back service doors support straightforward day-to-day access.
The mezzanine includes two windows and provides access to the 3rd floor for additional storage. Interior utility and drainage features include 200 AMP electrical service, floors drains and oil separators, a 1/2 bath, and a laundry room. Construction materials include vinyl siding, and the roof is composition.
The site uses a shared septic system, and cable is available. No grow facilities are allowed in the development, and I-1 zoning ordinances apply.
The mezzanine includes two windows and provides access to the 3rd floor for additional storage. Interior utility and drainage features include 200 AMP electrical service, floors drains and oil separators, a 1/2 bath, and a laundry room. Construction materials include vinyl siding, and the roof is composition.
The site uses a shared septic system, and cable is available. No grow facilities are allowed in the development, and I-1 zoning ordinances apply.
Key Highlights
- 34 x 60 main level with 14 x 30 mezzanine totaling 2,460 SF
- Front 16 x 14 overhead door and rear 14 x 14 overhead door with service doors
- Insulated unit with upgraded heat and central air
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
$13,969
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
3.50%
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%
$279,380
$279.4K
Cap Rate 7%
$199,557
$199.6K
Cap Rate 9%
$155,211
$155.2K
Market Conditions
NOI Build-Up for 2,460 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
$16.9K $6.88/SF
− Vacancy
−$491 −$0.20/SF
EGI
$16.4K $6.68/SF
− OpEx
−$2.5K −$1.00/SF
NOI
$14.0K $5.68/SF
Area
Allegan County, MI
Vacancy
2.90%
Lease Rate
$6.88 /SF/Yr
Expense Ratio
15.00%
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%
$279,380
Cap Rate 7%
$199,557
Cap Rate 9%
$155,211
Alternative Uses
Best Use
Warehouse
$199.6K
$174.6K – $232.8K
NOI $13,969 @ 7.0% cap · market cap 3.50%
Second Best
Self Storage
$152.2K
$133.1K – $177.5K
NOI $10,651 @ 7.0% cap · market cap 2.67%
Theoretical Best
Hotel Hospitality
$23.10M
$20.21M – $26.95M
NOI $1,617,136 @ 7.0% cap · market cap 405.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
20
Businesses Nearby
Explore this area
Business Placement
Demographics for 49453, MI
2,950
Population
2,113
Households
1.4
Avg Household Size
53
Median Age
52%
College-Educated
98%
High-School Grad
10.4 sq mi
ZIP Area
284
Density / Sq Mi
$101,250
Median Household Income
$49,970
Median Earnings
$766
Median Rent
$487,400
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Insulated, under-construction storage unit with upgraded heat and central air plus front and rear overhead doors.
Where is this self storage facility located?
The property is located at 6313 JUST A MERE Road Saugatuck, MI.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 34 x 60 main level with 14 x 30 mezzanine totaling 2,460 SF; Front 16 x 14 overhead door and rear 14 x 14 overhead door with service doors; Insulated unit with upgraded heat and central air
