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    6323 JUST A MERE Road unit 603 Saugatuck, MI 49453

    View on Map
    For Sale
    $297,900

    COMMERCIAL - Saugatuck, MI

    Property size:
    1,920 SF
    Added:
    Apr 4, 2025
    Days on Market:
    363
    Last Refresh:
    Apr 1 at 5:06 pm

    Property Features for 6323 JUST A MERE Road unit 603

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Property condition
    Under Construction
    Bathrooms
    1
    Rooms
    Bathroom 1
    Standard status
    Active
    APN
    032023202500
    Size
    1,920 SF

    Taxes and HOA fees

    TaxYear
    2024
    TaxDescription
    See attached document.
    TaxAnnualAmount
    295

    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

    We can help!

    Listing Contact
    Tammy L Kerr
    Tammy L Kerr

    Listing agent Tammy L Kerr License #6502335918

    Listing office BHG Connections 444 Center St, Douglas, MI

    Listing date Apr 4, 2025

    MLS# 25013381

    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.

    Overview

    New Construction Flex Space Available

    New construction is scheduled to begin in January 2026. The building will feature 2 by 6 construction with insulation, heat, and air conditioning. Unit 603 offers 1920 square feet of space, measuring 60x32, and includes a 14x14 overhead door at the front. A service door is located at the front, with a black eyebrow roof over the front door. A high upper window is situated in the back for a possible future mezzanine. The unit includes a half bath and the option to add a walk-in shower for an additional $5,000. It also features a 20-gallon hot water tank and a 5-ton A/C unit with a 100,000 BTU furnace. Interior metal walls, one 96'' fan, six LED lights, and eight electrical outlets (two on the back wall and three on each side wall) are included. The unit is equipped with 200 AMP electrical service, a shared septic system with floor drains and oil separators, and natural gas. Grow facilities are not permitted in this development. The property is subject to I-1 zoning ordinances. Association dues are $2500 per year. Taxes are To Be Determined.
    Location Intelligence

    Current Use by Public Records

    Flex space

    Map

    City
    Saugatuck
    County
    Allegan
    State
    Michigan
    Longitude
    -86.161091
    Latitude
    42.660368

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    FAQs

    What type of property is this?
    Flex space - New construction flex space with customizable options in Saugatuck.
    Where is this flex space located?
    The property is located at 6323 JUST A MERE Road unit 603 Saugatuck, MI.
    What is the asking price?
    The asking price for this property is $297,900.
    What are key features of this property?
    This property features: New construction starting January 2026; Spacious 1920 SF unit with a convenient 14x14 overhead door; Equipped with 200 AMP electrical service
    (616) 218-0873
    We can help!
    Listing Contact
    Tammy L Kerr
    Tammy L Kerr
    Real Estate License ID: 6502335918
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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