Flex Space Garage
For Sale
$518,000
10320 N Holly Road #2- A&B, Grand Blanc, MI 48439
Finished commercial units offer dedicated workspace, storage capacity, and vehicle-oriented functionality.
Property Size3,000 SF
Price / SF$172.67
Days on Market80
Property Features for 10320 N Holly Road #2- A&B
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Commercial
Zoning
Commercial
Warehouse & Industrial
Clear Height
20 ft
Drive-In Doors
1
Power
100 amps
Taxes and HOA fees
Annual Taxes
$5,775
Amenities
security-gate access
outdoor lighting
snow removal
grounds maintenance
onsite dumpster
security cameras
Building Details
Building Size
3,000 SF
Year Built
2026
Stories
1
Listing Agency:
Gearhead Homes Realty Inc
(248) 974-6003
Listed By:
Brian McNamara · License #6501376331
(248) 974-6003
Source:
Phgrealty
Added: Jun 2
Changed: Aug 18
Last Checked: Aug 20 at 2:34PM
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 Gearhead Homes Realty Inc
Investment Insights
Based on property information with market context.
This flex-space property comprises 3000 sq. ft. garage units intended for vehicle storage, hobby use, small-business storage, or workspace. Each unit is finished with block and drywall interiors, R19 insulated walls, R38 insulated ceilings, reinforced concrete floors with a vapor barrier, LED lighting, and a private half bathroom. A floor drain includes an oil/water separation and filter system.
Units feature vaulted ceilings measuring 20' at the front and tapering to 17' at the rear, along with a 14' insulated garage door with window panels. Building systems include 100-amp electrical service, forced-air gas heat and A/C, a Wi-Fi thermostat, an interior hose bib, plumbing for water and gas, and a Comcast internet hookup. Utility-sink and ceiling-fan plumbing is included, with additional upgrades available after closing. Units may be combined for additional square footage. The property is located at 10320 N Holly Road in Grand Blanc, Michigan, and is zoned Commercial.
Units feature vaulted ceilings measuring 20' at the front and tapering to 17' at the rear, along with a 14' insulated garage door with window panels. Building systems include 100-amp electrical service, forced-air gas heat and A/C, a Wi-Fi thermostat, an interior hose bib, plumbing for water and gas, and a Comcast internet hookup. Utility-sink and ceiling-fan plumbing is included, with additional upgrades available after closing. Units may be combined for additional square footage. The property is located at 10320 N Holly Road in Grand Blanc, Michigan, and is zoned Commercial.
Key Highlights
- 3000 sq. ft. garage units configured for storage, workspace, hobbies, and vehicle use
- Vaulted ceilings measure 20' at the front and taper to 17' at the rear
- 14' insulated garage door with window panels and remote‑operated Jackshaft opener
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
$20,632
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
3.98%
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%
$412,640
$412.6K
Cap Rate 7%
$294,743
$294.7K
Cap Rate 9%
$229,244
$229.2K
Market Conditions
NOI Build-Up for 3,000 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
$27.0K $9.00/SF
− Vacancy
−$2.7K −$0.91/SF
EGI
$24.3K $8.09/SF
− OpEx
−$3.6K −$1.21/SF
NOI
$20.6K $6.88/SF
Area
Genesee County, MI
Vacancy
10.10%
Lease Rate
$9.00 /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%
$412,640
Cap Rate 7%
$294,743
Cap Rate 9%
$229,244
Alternative Uses
Best Use
Warehouse
$294.7K
$257.9K – $343.9K
NOI $20,632 @ 7.0% cap · market cap 3.98%
Second Best
Industrial
$242.7K
$212.4K – $283.2K
NOI $16,991 @ 7.0% cap · market cap 3.28%
Theoretical Best
Office A
$631.3K
$552.4K – $736.5K
NOI $44,190 @ 7.0% cap · market cap 8.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
20 ft
Clear height
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
523
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48439, MI
51,719
Population
22,101
Households
2.3
Avg Household Size
41
Median Age
43%
College-Educated
96%
High-School Grad
54.5 sq mi
ZIP Area
949
Density / Sq Mi
$88,505
Median Household Income
$47,506
Median Earnings
$1,035
Median Rent
$250,800
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 - Finished commercial units offer dedicated workspace, storage capacity, and vehicle-oriented functionality.
Where is this flex space located?
The property is located at 10320 N Holly Road #2- A&B Grand Blanc, MI.
What is the asking price?
The asking price for this property is $518,000.
What are key features of this property?
This property features: 3000 sq. ft. garage units configured for storage, workspace, hobbies, and vehicle use; Vaulted ceilings measure 20' at the front and taper to 17' at the rear; 14' insulated garage door with window panels and remote‑operated Jackshaft opener
