Flex Space with Overhead
For Sale
$439,000
9167 1st Street, Baroda, MI 49101
Commercial Sale, Baroda, MI
Property Size6,250 SF
Lot Size0.30 Acres
Price / SF$61.83
Days on Market175
Property Features for 9167 1st Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
301
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Parking
25
Elementary school district
Lakeshore
Middle school district
Lakeshore
High school district
Lakeshore
Directions
I-94 to exit 16. North to Lemon Creek Rd, East to First St. South to building on Left.
Standard status
Active
APN
11-30-0014-0008-07-5
Size
7,100 SF
Lot size
0.30 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
COM 157.8'W & 1710'S 0 DEG 0'55''E OF N1/4 PST SEC 14 T6S R19W TH N89 DEG59'05''E 200.96'TH S 0 DEG 02' 26''E 66'TH S89D
Tax Annual Amount
2412
Legal Description
COM 157.8'W & 1710'S 0 DEG 0'55''E OF N1/4 PST SEC 14 T6S R19W TH N89 DEG59'05''E 200.96'TH S 0 DEG 02' 26''E 66'TH S89D
Utilities
Utilities
Cable Available
Heating system
Forced Air
Building Details
Year built
1993
Number of units
1
Building materials
Metal Siding
Roof type
Metal
Listing Agency:
Coldwell Banker Realty · Coldwell Banker Real Estate
(269) 469-3950
Listed By:
Mara Walsh
(773) 220-9062
Added: Mar 12
Changed: Aug 27
Last Checked: Sep 2 at 2:06AM
MLS# 26009501
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 flex property offers approximately 6,250 square feet of industrial space with 20-foot ceilings, 6-inch concrete floors, and insulation suited to year-round use. The building is equipped with 3-phase, 600-amp electrical service, updated HVAC, and automatic exhaust fans. Two 12' x 14' overhead doors support loading and equipment access. Office areas are positioned on both the main and upper levels, with bathrooms on each floor; the upper-level bathroom includes a shower.
The property sits on a 0.3-acre lot with a fully paved surface that provides access, maneuvering room, and parking. Its Baroda location is near I-94 and the US-31 Bypass along the Southwest Michigan Wine Trail. The building was constructed in 1993 and features metal siding and a metal roof.
The property sits on a 0.3-acre lot with a fully paved surface that provides access, maneuvering room, and parking. Its Baroda location is near I-94 and the US-31 Bypass along the Southwest Michigan Wine Trail. The building was constructed in 1993 and features metal siding and a metal roof.
Key Highlights
- Approximately 6,250 sq. ft. of industrial flex space with 20‑foot ceilings
- 3‑phase, 600‑amp electrical service with 6‑inch concrete floors
- Two 12' x 14' overhead doors for equipment and loading 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
$38,517
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
8.77%
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%
$770,340
$770.3K
Cap Rate 7%
$550,243
$550.2K
Cap Rate 9%
$427,967
$428.0K
Market Conditions
NOI Build-Up for 7,100 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
$49.4K $6.96/SF
− Vacancy
−$4.1K −$0.58/SF
EGI
$45.3K $6.38/SF
− OpEx
−$6.8K −$0.96/SF
NOI
$38.5K $5.42/SF
Area
Berrien County, MI
Vacancy
8.30%
Lease Rate
$6.96 /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%
$770,340
Cap Rate 7%
$550,243
Cap Rate 9%
$427,967
Alternative Uses
Best Use
Warehouse
$550.2K
$481.5K – $642.0K
NOI $38,517 @ 7.0% cap · market cap 8.77%
Second Best
Flex RnD
$507.8K
$444.4K – $592.5K
NOI $35,548 @ 7.0% cap · market cap 8.10%
Theoretical Best
Office A
$1.49M
$1.31M – $1.74M
NOI $104,582 @ 7.0% cap · market cap 23.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20 ft
Clear height
Yes
Heavy power
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
120
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 49101, MI
3,132
Population
1,343
Households
2.3
Avg Household Size
44
Median Age
26%
College-Educated
93%
High-School Grad
20.6 sq mi
ZIP Area
152
Density / Sq Mi
$70,167
Median Household Income
$48,707
Median Earnings
$1,040
Median Rent
$225,500
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?
Flex space - Versatile facility with two office levels, bathrooms, updated HVAC, and a paved lot for access and maneuvering.
Where is this flex space located?
The property is located at 9167 1st Street Baroda, MI.
What is the asking price?
The asking price for this property is $439,000.
What are key features of this property?
This property features: Approximately 6,250 sq. ft. of industrial flex space with 20‑foot ceilings; 3‑phase, 600‑amp electrical service with 6‑inch concrete floors; Two 12' x 14' overhead doors for equipment and loading access
