Industrial Warehouse with Loading
For Sale
$1,200,000
1025 Pyle Drive, Kingsford, MI 49802
COM/IND/BUS OPP, Kingsford, MI
Property Size15,260 SF
Lot Size2.00 Acres
Price / SF$78.64
Days on Market113
Property Features for 1025 Pyle Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Zoning description
Commercial
Lot features
Main Street, Industrial
Subdivision
Kingsford (22008)
Standard status
Active
Size
15,260 SF
Lot size
2.00 Acres
Utilities
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1985
Roof type
Metal
Listing Agency:
STEPHENS REAL ESTATE
(906) 774-8570
Listed By:
RYAN GORDON · License #6502420131
(906) 282-1644
Added: May 7
Changed: Aug 19
Last Checked: Aug 27 at 1:06AM
MLS# 50206742
Copyright © 2026 Upper Peninsula Association of Realtors. 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.
Built in 1985, this 15,260-square-foot industrial warehouse occupies 2 acres at 1025 Pyle Drive in Kingsford, Michigan. The facility includes a 14,000-square-foot open warehouse with a full-length floor drain, five Modine heaters, twenty 14-foot doors, and two dedicated loading docks. A separate 1,260-square-foot office suite supports administrative and operational functions.
The property has Commercial zoning, a metal roof, forced-air heating, central air, and public water. Its configuration provides substantial enclosed area for warehouse, distribution, manufacturing, or heavy equipment storage operations, with loading infrastructure designed for frequent material movement.
The property has Commercial zoning, a metal roof, forced-air heating, central air, and public water. Its configuration provides substantial enclosed area for warehouse, distribution, manufacturing, or heavy equipment storage operations, with loading infrastructure designed for frequent material movement.
Key Highlights
- 15,260‑square‑foot industrial facility on 2 acres
- 14,000‑square‑foot open warehouse with full‑length floor drain
- Twenty 14‑foot doors and two dedicated loading docks
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
Warehouse
$1.30M
$1.14M – $1.52M
NOI $91,142 @ 7.0% cap · market cap 7.60%
Second Best
Industrial
$1.08M
$945.1K – $1.26M
NOI $75,608 @ 7.0% cap · market cap 6.30%
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
Property Profile
Current Use
Lease Details
2
Dock-high doors
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
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - Large-format industrial facility with dedicated office space, multiple overhead doors, and supplemental heating.
Where is this warehouse located?
The property is located at 1025 Pyle Drive Kingsford, MI.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 15,260‑square‑foot industrial facility on 2 acres; 14,000‑square‑foot open warehouse with full‑length floor drain; Twenty 14‑foot doors and two dedicated loading docks
