New Flex Space 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 Market505
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
Old Allegan Rd to 63rd. Left on 63rd to Just A Mere Rd. on the left.
Subdivision
Holland/Saugatuck - H
Standard status
Active
APN
032023202600
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 4, 2025
Changed: Aug 4
Last Checked: Aug 21 at 4:06AM
MLS# 25013386
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.
Unit 604 is an 1,800-square-foot flex space under construction with insulated 2-by-6 walls, metal interior walls, and a 14-by-14-foot overhead door at the front. The layout includes front service doors, a rear upper window suitable for a possible future mezzanine, and a half bathroom.
Building systems include a 5-ton central air-conditioning unit, a 100,000 BTU forced-air furnace, natural gas, a 20-gallon hot water tank, and 200-amp electrical service. Interior lighting includes six LED fixtures and a 96-inch fan, with eight electrical outlets distributed throughout the unit. The property uses a shared septic system with floor drains and oil separators. Grow facilities are not permitted in the development.
Building systems include a 5-ton central air-conditioning unit, a 100,000 BTU forced-air furnace, natural gas, a 20-gallon hot water tank, and 200-amp electrical service. Interior lighting includes six LED fixtures and a 96-inch fan, with eight electrical outlets distributed throughout the unit. The property uses a shared septic system with floor drains and oil separators. Grow facilities are not permitted in the development.
Key Highlights
- Unit 604 offers 1,800 SF of flex space
- 14x14 overhead door at the front of the unit
- 200 AMP electrical service with 8 electrical outlets
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
Industrial
$120.2K
$105.2K – $140.3K
NOI $8,417 @ 7.0% cap · market cap 3.01%
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
18
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.
Frequently Asked Questions
What type of property is this?
Flex space - Insulated flex unit with central air, forced-air heat, natural gas, and a shared septic system.
Where is this flex space 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: Unit 604 offers 1,800 SF of flex space; 14x14 overhead door at the front of the unit; 200 AMP electrical service with 8 electrical outlets
