Insulated Storage Condo with
For Sale
$99,900
6340 Goose Drive, Freeland, MI 48623
COMMERCIAL - Freeland, MI
Property Size1,250 SF
Lot Size0.02 Acres
Price / SF$79.92
Days on Market44
Property Features for 6340 Goose Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Lot features
Dead End
Subdivision
Tittabawassee Twp (73026)
Standard status
Active
APN
29-13-3-27-3001-018
Size
1,250 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
2317
Utilities
Heating system
Radiant
Water source
Public
Building Details
Year built
2026
Roof type
Asphalt
Listing Agency:
Century 21 Signature Realty (Freeland) · Century 21 Real Estate
(989) 921-7000
Listed By:
Michael Schauman · License #6501377421
(989) 529-5100
Added: Jul 14
Changed: Aug 4
Last Checked: Aug 26 at 5:06PM
MLS# 50214829
Copyright © 2026 Multiple Listing Service MiRealSource. 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 insulated storage condo is built for year-round use and includes radiant tube heat, as well as white steel-finished interior walls and ceilings designed for a clean, durable interior. The unit measures 25' x 50' and features a convenient two-piece bathroom and an interior hose hookup. Access is provided by an oversized 16' x 14' overhead door for larger vehicles and equipment, plus a separate 3' x 6' 8" entry door with keypad access.
The property is located at 6340 Goose Drive in Freeland, Michigan. According to the listing, monthly association dues are $100 and cover exterior building maintenance, lawn care, and snow removal.
The condo is part of a fully customizable unit setup, allowing an owner to tailor the space for additional storage or workspace needs within the provided structure and finishes.
The property is located at 6340 Goose Drive in Freeland, Michigan. According to the listing, monthly association dues are $100 and cover exterior building maintenance, lawn care, and snow removal.
The condo is part of a fully customizable unit setup, allowing an owner to tailor the space for additional storage or workspace needs within the provided structure and finishes.
Key Highlights
- 25' x 50' insulated storage condo (Unit 8) built in 2026
- Radiant tube heat with fully insulated construction for year‑round use
- 16' x 14' overhead door for large vehicle and equipment access
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
$8,568
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
8.58%
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%
$171,360
$171.4K
Cap Rate 7%
$122,400
$122.4K
Cap Rate 9%
$95,200
$95.2K
Market Conditions
NOI Build-Up for 1,250 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
$10.5K $8.40/SF
− Vacancy
−$420 −$0.34/SF
EGI
$10.1K $8.06/SF
− OpEx
−$1.5K −$1.21/SF
NOI
$8.6K $6.85/SF
Area
Saginaw County, MI
Vacancy
4.00%
Lease Rate
$8.40 /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%
$171,360
Cap Rate 7%
$122,400
Cap Rate 9%
$95,200
Alternative Uses
Best Use
Self Storage
$145.7K
$127.5K – $170.0K
NOI $10,198 @ 7.0% cap · market cap 10.21%
Second Best
Warehouse
$122.4K
$107.1K – $142.8K
NOI $8,568 @ 7.0% cap · market cap 8.58%
Theoretical Best
Specialty Retail
$230.9K
$202.1K – $269.4K
NOI $16,166 @ 7.0% cap · market cap 16.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
71
Businesses Nearby
Explore this area
Business Placement
Demographics for 48623, MI
15,105
Population
5,495
Households
2.7
Avg Household Size
41
Median Age
33%
College-Educated
96%
High-School Grad
72.8 sq mi
ZIP Area
207
Density / Sq Mi
$96,371
Median Household Income
$54,433
Median Earnings
$1,176
Median Rent
$230,300
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 25' x 50' unit with radiant tube heat, a 16' x 14' overhead door, and keypad entry.
Where is this self storage facility located?
The property is located at 6340 Goose Drive Freeland, MI.
What is the asking price?
The asking price for this property is $99,900.
What are key features of this property?
This property features: 25' x 50' insulated storage condo (Unit 8) built in 2026; Radiant tube heat with fully insulated construction for year‑round use; 16' x 14' overhead door for large vehicle and equipment access
