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    500 Washington St Coloma, MI 49038

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    For Lease
    $3 SF/Yr

    4,000 sq ft industrial space with flexible leasing options.

    Lot size:
    4.20 Acres

    Property Features for 500 Washington St

    General Information

    Property type
    Commercial
    Standard status
    Active
    Lot size
    4.20 Acres

    Building Details

    Year built
    1959

    We can help!

    Listing Contact
    Alexander Zeisberg
    Source: Elliman

    Listing Agency: Realty Executives Pro Brokers Listing Agent: Alexander Zeisberg

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Industrial Outbuilding with Vehicle Access

    This industrial outbuilding offers approximately 4,000 sq ft of clear, open space with excellent vehicle access. The structure, measuring roughly 40 ft by 100 ft, features a 14 ft sidewall height and up to 19 ft height at the peak. It is suitable for storage, shop use, equipment housing, or light industrial operations. Two drive-up bay doors, each approximately 9 ft tall by 8 ft 10 in wide, facilitate easy entry for trucks, vans, trailers, or equipment. The building includes overhead lighting and is situated on a large gravel lot with abundant parking and generous turnaround space for larger vehicles. The owner is open to adding power, lighting, HVAC, or other improvements depending on tenant needs, with build-out costs negotiable through the lease term. Flexible leasing options are available. The property has 240amp power/voltage. All measurements are approximate, and the tenant is responsible for verification.
    Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Coloma
    County
    Berrien
    State
    Michigan
    Longitude
    -86.312177
    Latitude
    42.189174

    Nearby Similar for Lease

    • $2.00 SF/Yr
      8,050 SF

      Coloma Warehouse Space for Lease

      8,050 SF warehouse space suitable for industrial use.
      500 Washington St, Coloma, MI 49038
      View Details
    • $3 SF/Yr
      4,000 SF

      Coloma Industrial Outbuilding For Lease

      4,000 SF industrial space with flexible leasing options.
      500 Washington St, Coloma, MI 49038
      View Details
    • $1.00 SF/Yr
      44,192 SF

      Flexible Industrial Space in Coloma

      44,500 sq ft industrial space for lease in Coloma, MI.
      500 Washington St, Coloma, MI 49038
      View Details
    • $2.00 SF/Yr

      Coloma Warehouse Space for Lease

      8,050 sq ft warehouse with drive-in bay door.
      500 Washington St, Coloma, MI 49038
      View Details
    • $1.00 SF/Yr

      Versatile Industrial Space Available

      44,500 sq ft flexible industrial space for lease.
      500 Washington St, Coloma, MI 49038
      View Details

    FAQs

    What type of property is this?
    Flex space - 4,000 sq ft industrial space with flexible leasing options.
    Where is this flex space located?
    The property is located at 500 Washington St Coloma, MI.
    What is the lease rate?
    The lease rate is $3 SF/Yr.
    What are key features of this property?
    This property features: - Approx. 4,000 sq ft of clear, open industrial space suitable for various uses.; - Excellent vehicle access with two drive-up bay doors (approx. 9 ft tall by 8 ft 10 in wide).; - Large gravel lot with abundant parking and generous turnaround space.
    (269) 235-9910
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    500 Washington St Coloma, MI 49038
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    Coloma, MI 49038
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    500 Washington St Coloma, MI 49038
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    We can help!
    Listing Contact
    Alexander Zeisberg
    (269) 235-9910
    Learn more
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