New Warehouse Unit with Overhead
For Sale
$279,900
6323 JUST A MERE Road, Saugatuck, MI 49453
COMMERCIAL - Saugatuck, MI
Property Size1,800 SF
Price / SF$155.50
Days on Market507
Property Features for 6323 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 Old Allegan Rd. Left on 63rd. Units on the left.
Subdivision
Holland/Saugatuck - H
Standard status
Active
APN
032023202300
Size
1,800 SF
Taxes and HOA fees
Tax Year
2024
Tax Description
See Attached Legal
Tax Annual Amount
295
Legal Description
See Attached Legal
Utilities
Utilities
Natural Gas Available
Sewer type
Septic Tank
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
2025
Floors in Building
1
Number of units
4
Building materials
Vinyl Siding, Stone
Roof type
Composition
Listing Agency:
BHG Connections
(269) 400-5400
Listed By:
Tammy L Kerr · License #6502433373
(616) 218-0873
Added: Apr 2, 2025
Changed: Aug 4
Last Checked: Aug 21 at 4:06AM
MLS# 25012988
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 warehouse unit is under construction at 6323 Just a Mere Road in Saugatuck, Michigan, with an anticipated 2025 completion. Unit 601 contains 1,800 square feet and is designed with 2x6 insulated construction, metal interior walls, a 14x14 overhead door, front service entry, and a rear upper window that may support a future mezzanine. The unit includes a half bath, floor drains with oil separators, and a shared septic system.
Building systems include a 5-ton A/C unit, 100,000 BTU forced-air furnace, 200 AMP electrical service, natural gas availability, one 96-inch fan, six LED lights, and eight electrical outlets. The property is located in Saugatuck, MI, and the development does not allow grow facilities. The roof is composition, with vinyl siding and stone among the construction materials.
Building systems include a 5-ton A/C unit, 100,000 BTU forced-air furnace, 200 AMP electrical service, natural gas availability, one 96-inch fan, six LED lights, and eight electrical outlets. The property is located in Saugatuck, MI, and the development does not allow grow facilities. The roof is composition, with vinyl siding and stone among the construction materials.
Key Highlights
- 1,800 SF warehouse unit under construction
- 14x14 overhead door at the front of Unit 601
- 2x6 insulated construction with metal interior walls
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
$10,221
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
3.65%
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%
$204,420
$204.4K
Cap Rate 7%
$146,014
$146.0K
Cap Rate 9%
$113,567
$113.6K
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
$12.4K $6.88/SF
− Vacancy
−$359 −$0.20/SF
EGI
$12.0K $6.68/SF
− OpEx
−$1.8K −$1.00/SF
NOI
$10.2K $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%
$204,420
Cap Rate 7%
$146,014
Cap Rate 9%
$113,567
Alternative Uses
Best Use
Warehouse
$146.0K
$127.8K – $170.4K
NOI $10,221 @ 7.0% cap · market cap 3.65%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$16.90M
$14.79M – $19.72M
NOI $1,183,270 @ 7.0% cap · market cap 422.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Drive-in doors
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
26
Businesses Nearby
Well-served
Demand for This Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Just Barns Too. — 6305-6323 just a mere rd, Saugatuck, MI 49453
- Just Storage of Saugatuck — 6308 Just A Mere Rd, Saugatuck, MI 49453
- U store — 3285 Jack Wilson Rd, Saugatuck, MI 49453
Frequently Asked Questions
What type of property is this?
Warehouse - Under construction with insulated walls, climate control, natural gas, and dedicated electrical service.
Where is this warehouse located?
The property is located at 6323 JUST A MERE Road Saugatuck, MI.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: 1,800 SF warehouse unit under construction; 14x14 overhead door at the front of Unit 601; 2x6 insulated construction with metal interior walls
