Industrial Flex
For Sale
Contact for pricing
1020 E JOLLY RD, Lansing, MI 48910
Industrial facility with warehouse space, office buildout, three-phase power, and an overhead door.
Property Size3,315 SF
Price / SF$72.37
Days on Market60
Property Features for 1020 E JOLLY RD
General Information
Standard status
Active
Size
3,315 SF
Class
C
Property subtype
Industrial, Mixed Use
Zoning
MX-C
Warehouse & Industrial
Clear Height
13 ft
Heavy Power
Yes
Building Details
Year Built
1960
Buildings
1
Stories
1
Units
1
Listing Agency:
Keller Williams Realty lansing-East
Listed By:
Max Billinghurst · License #8873056
(269) 339-1431
Source:
Crexi
Added: Jul 8
Changed: Aug 23
Last Checked: Aug 31 at 7:50PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty lansing-East
Investment Insights
Based on property information with market context.
1020 E. Jolly Rd is a versatile industrial facility designed for warehouse and light industrial uses, with a combined warehouse, office, and light industrial layout. The warehouse area offers 8'–13' clear ceiling heights and an 8' overhead door. Office buildout includes multiple private offices along with a reception area and administrative workspace.
The property is supported by three-phase power and has an updated HVAC system. It is described as well-suited for light manufacturing, warehousing, trade contractors, and other industrial users seeking flexible space.
This configuration provides a functional mix of operational and administrative space within a single facility, supporting a range of industrial and contractor-style business needs.
The property is supported by three-phase power and has an updated HVAC system. It is described as well-suited for light manufacturing, warehousing, trade contractors, and other industrial users seeking flexible space.
This configuration provides a functional mix of operational and administrative space within a single facility, supporting a range of industrial and contractor-style business needs.
Key Highlights
- Versatile industrial facility with warehouse, office, and light industrial uses
- 3‑phase power available
- Updated HVAC system
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
$21,539
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
8.98%
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%
$430,780
$430.8K
Cap Rate 7%
$307,700
$307.7K
Cap Rate 9%
$239,322
$239.3K
Market Conditions
NOI Build-Up for 3,315 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
$33.8K $10.20/SF
− Vacancy
−$3.0K −$0.92/SF
EGI
$30.8K $9.28/SF
− OpEx
−$9.2K −$2.78/SF
NOI
$21.5K $6.50/SF
Area
Lansing, MI
Vacancy
9.00%
Lease Rate
$10.20 /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%
$430,780
Cap Rate 7%
$307,700
Cap Rate 9%
$239,322
Alternative Uses
Best Use
Warehouse
$382.1K
$334.4K – $445.8K
NOI $26,750 @ 7.0% cap · market cap 11.15%
Second Best
Flex RnD
$365.7K
$320.0K – $426.6K
NOI $25,598 @ 7.0% cap · market cap 10.67%
Theoretical Best
Office A
$682.4K
$597.1K – $796.1K
NOI $47,766 @ 7.0% cap · market cap 19.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
13 ft
Clear height
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
622
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48910, MI
33,702
Population
17,119
Households
2
Avg Household Size
35
Median Age
32%
College-Educated
91%
High-School Grad
14.2 sq mi
ZIP Area
2,373
Density / Sq Mi
$52,154
Median Household Income
$36,643
Median Earnings
$1,003
Median Rent
$117,600
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 - Industrial facility with warehouse space, office buildout, three-phase power, and an overhead door.
Where is this flex space located?
The property is located at 1020 E JOLLY RD Lansing, MI.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: Versatile industrial facility with warehouse, office, and light industrial uses; 3‑phase power available; Updated HVAC system
