Industrial Flex
For Sale
$305,000
8750 Portage Industrial Drive, Portage, MI 49024
Commercial Sale, Portage, MI
Property Size1,339 SF
Lot Size0.33 Acres
Price / SF$227.78
Days on Market93
Property Features for 8750 Portage Industrial Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Elementary school district
Portage
Middle school district
Portage
High school district
Portage
Directions
131 to Shaver Rd to Portage Industrial Dr.
Standard status
Active
APN
90-0021-332-O
Size
1,339 SF
Lot size
0.33 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SEC 21-3-11 BEG AT NW COR SW 1/4 SE 1/4 SEC 21, TH E 132 FT, TH S 140 FT, TH W 132 FT, TH N 140 FT TO P.O.B., EXC EASEME
Tax Annual Amount
5678
Legal Description
SEC 21-3-11 BEG AT NW COR SW 1/4 SE 1/4 SEC 21, TH E 132 FT, TH S 140 FT, TH W 132 FT, TH N 140 FT TO P.O.B., EXC EASEME
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1945
Floors in Building
1
Number of units
1
Building materials
Vinyl Siding
Listing Agency:
Coldwell Banker Woodland Schmidt · Coldwell Banker Real Estate
(616) 396-5221
Listed By:
Veronica Ramirez Garcia
(616) 886-2797
Added: Jun 18
Changed: Sep 7
Last Checked: Sep 18 at 10:06AM
MLS# 26030239
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 1,339-square-foot flex property combines warehouse space with an office area and bathroom, providing a mixed-use commercial layout within a compact building footprint. The structure was built in 1945 and features vinyl siding, forced-air heating, and central air conditioning. Cable service is available at the property.
Located at 8750 Portage Industrial Drive in Portage, Michigan, the property is positioned within an industrial corridor and offers access to major roadways. Its configuration is suited to industrial, manufacturing, distribution, contractor, service, or owner-user applications identified for the building.
Located at 8750 Portage Industrial Drive in Portage, Michigan, the property is positioned within an industrial corridor and offers access to major roadways. Its configuration is suited to industrial, manufacturing, distribution, contractor, service, or owner-user applications identified for the building.
Key Highlights
- 1,339‑square‑foot industrial/flex building
- Warehouse space paired with an office area
- Bathroom included within the building
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
$24,527
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
8.04%
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%
$490,540
$490.5K
Cap Rate 7%
$350,386
$350.4K
Cap Rate 9%
$272,522
$272.5K
Market Conditions
NOI Build-Up for 1,339 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
$29.6K $22.08/SF
− Vacancy
−$710 −$0.53/SF
EGI
$28.9K $21.55/SF
− OpEx
−$4.3K −$3.23/SF
NOI
$24.5K $18.32/SF
Area
Kalamazoo County, MI
Vacancy
2.40%
Lease Rate
$22.08 /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%
$490,540
Cap Rate 7%
$350,386
Cap Rate 9%
$272,522
Alternative Uses
Best Use
Warehouse
$350.4K
$306.6K – $408.8K
NOI $24,527 @ 7.0% cap · market cap 8.04%
Second Best
Industrial
$288.6K
$252.5K – $336.7K
NOI $20,199 @ 7.0% cap · market cap 6.62%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
176
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 49024, MI
30,332
Population
13,232
Households
2.3
Avg Household Size
39
Median Age
51%
College-Educated
97%
High-School Grad
17.2 sq mi
ZIP Area
1,763
Density / Sq Mi
$86,427
Median Household Income
$49,914
Median Earnings
$1,208
Median Rent
$248,700
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 Industrial in Midwest region
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Similar Off Market Nearby
- All Foods to Go Catering — 1807 Vanderbilt Ave, Portage, MI 49024
Frequently Asked Questions
What type of property is this?
Flex space - Compact industrial property combining warehouse, office, and bathroom space with central air and forced-air heating.
Where is this flex space located?
The property is located at 8750 Portage Industrial Drive Portage, MI.
What is the asking price?
The asking price for this property is $305,000.
What are key features of this property?
This property features: 1,339‑square‑foot industrial/flex building; Warehouse space paired with an office area; Bathroom included within the building
