For Sale
$1,200,000
1025 Pyle Dr, Kingsford, MI 49802
15,260 sq ft industrial facility on 2 acres.
Property Size15,260 SF
Lot Size2.00 Acres
Price / SF$78.64
Days on Market93
Property Features for 1025 Pyle Dr
General Information
Standard status
Active
Property type
Warehouses, Flex space, Office Units, Industrial properties, Office Spaces
Size
15,260 SF
Total Parking Spaces
100
Lot size
2.00 Acres
Investment Type
Owner User
Building Details
Year Built
1985
Buildings
1
Stories
1
Units
1
Listed By:
Ryan Gordon
(906) 774-8570
Added: Jun 10
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
$91,142
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
7.60%
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%
$1,822,840
$1.8M
Cap Rate 7%
$1,302,029
$1.3M
Cap Rate 9%
$1,012,689
$1.0M
Market Conditions
NOI Build-Up for 15,260 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
$112.2K $7.35/SF
− Vacancy
−$4.9K −$0.32/SF
EGI
$107.2K $7.03/SF
− OpEx
−$16.1K −$1.05/SF
NOI
$91.1K $5.97/SF
Area
Dickinson County, MI
Vacancy
4.40%
Lease Rate
$7.35 /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%
$1,822,840
Cap Rate 7%
$1,302,029
Cap Rate 9%
$1,012,689
Alternative Uses
Best Use
Office B
$2.30M
$2.01M – $2.68M
NOI $160,894 @ 7.0% cap · market cap 13.41%
Second Best
Warehouse
$1.30M
$1.14M – $1.52M
NOI $91,142 @ 7.0% cap · market cap 7.60%
Theoretical Best
Office A
$2.94M
$2.57M – $3.43M
NOI $205,944 @ 7.0% cap · market cap 17.16%
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
232
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49802, MI
6,197
Population
2,768
Households
2.2
Avg Household Size
46
Median Age
26%
College-Educated
96%
High-School Grad
7.9 sq mi
ZIP Area
784
Density / Sq Mi
$61,067
Median Household Income
$37,633
Median Earnings
$861
Median Rent
$109,300
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 Office in Midwest region
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Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Warehouse - 15,260 sq ft industrial facility on 2 acres.
Where is this warehouse located?
The property is located at 1025 Pyle Dr Kingsford, MI.
What is the asking price?
The asking price for this property is $1,200,000.
