Commercial Land with Multiple
For Sale
$899,900
650 S State Street, Stanton, MI 48888
Commercial, Stanton, MI
Property Size7,724 SF
Lot Size35.83 Acres
Price / SF$116.51
Days on Market190
Property Features for 650 S State Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
Commercial
Parking features
Parking Lot
Exterior features
Vinyl, Stone, Steel
Lot features
Freestanding
Directions
M66 North to property
Subdivision
Montcalm
Standard status
Active
Size
7,724 SF
Lot size
35.83 Acres
Taxes and HOA fees
Tax Description
685-311 S 1/2 OF N 1/2 OF NE 1/4 OF SF. 1/4 LYINGE OF PM RR R/W SEC 1 TION R7W
Tax Annual Amount
5120
Legal Description
685-311 S 1/2 OF N 1/2 OF NE 1/4 OF SF. 1/4 LYINGE OF PM RR R/W SEC 1 TION R7W
Utilities
Water source
Private
Building Details
Building materials
Frame
Roof type
Asphalt
Listing Agency:
FIVE STAR REAL ESTATE - MT. PLEASANT
(616) 791-1500
Listed By:
Lisa Reidt
(989) 763-4465
Added: Mar 4
Changed: Sep 2
Last Checked: Sep 10 at 1:06PM
MLS# 1942707
Copyright © 2026 Northern Great Lakes Realtors MLS. 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 commercially zoned property at 650 S State Street in Stanton combines substantial land with approximately 10,124 square feet of improvements. The main building contains 7,724 square feet, while a separate 40-by-60-foot pole building adds 5-inch concrete floors, 14-foot sidewalls, and 3-phase power. Radiant heat has been installed within the pole-building floor and requires connection. Exterior materials include vinyl, stone, and steel, with frame construction, an asphalt roof, private water, and a parking lot.
The property fronts the M-66 corridor and is approximately 20 minutes from an expressway. Two stocked ponds are included, measuring approximately 1.5 acres and 0.5 acres, with both reaching approximately 18 feet in depth. The offering includes multiple purchase configurations subject to split approval, including options involving the main building, pole building, ponds, and surrounding commercial land.
The property fronts the M-66 corridor and is approximately 20 minutes from an expressway. Two stocked ponds are included, measuring approximately 1.5 acres and 0.5 acres, with both reaching approximately 18 feet in depth. The offering includes multiple purchase configurations subject to split approval, including options involving the main building, pole building, ponds, and surrounding commercial land.
Key Highlights
- 7,724‑square‑foot main building included
- Approximately 10,124 square feet of buildings
- 40x60 pole building with 5‑inch concrete floors and 14' sidewalls
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
$80,182
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
8.91%
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%
$1,603,640
$1.6M
Cap Rate 7%
$1,145,457
$1.1M
Cap Rate 9%
$890,911
$890.9K
Market Conditions
NOI Build-Up for 7,724 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
$119.6K $15.48/SF
− Vacancy
−$5.0K −$0.65/SF
EGI
$114.5K $14.83/SF
− OpEx
−$34.4K −$4.45/SF
NOI
$80.2K $10.38/SF
Area
Montcalm County, MI
Vacancy
4.20%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
30.00%
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%
$1,603,640
Cap Rate 7%
$1,145,457
Cap Rate 9%
$890,911
Alternative Uses
Best Use
Retail
$1.15M
$1.00M – $1.34M
NOI $80,182 @ 7.0% cap · market cap 8.91%
Second Best
—
—
no second resolved use
Theoretical Best
Self Storage
$106.90M
$93.53M – $124.71M
NOI $7,482,696 @ 7.0% cap · market cap 831.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
195
Businesses Nearby
6k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar Tree
Shops & Services
6,242 visits/mo
0.4 miles
Demographics for 48888, MI
6,258
Population
2,928
Households
2.1
Avg Household Size
45
Median Age
13%
College-Educated
89%
High-School Grad
85.2 sq mi
ZIP Area
73
Density / Sq Mi
$55,954
Median Household Income
$36,164
Median Earnings
$899
Median Rent
$147,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Commercial land - Commercially zoned acreage fronts M-66 and includes a main building, outbuilding, and two stocked ponds.
Where is this commercial land located?
The property is located at 650 S State Street Stanton, MI.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: 7,724‑square‑foot main building included; Approximately 10,124 square feet of buildings; 40x60 pole building with 5‑inch concrete floors and 14' sidewalls
