Building Details

Building Size 1,268 SF

Listing Agency: New Michigan Realty, LLC

Listed By: Joseph Tinpan · License #6501306210 Show Phone

Source: Cen21allstar

Added: Sep 21 Changed: Sep 22 Last Checked: Sep 24 at 6:38AM

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Investment Insights

Based on property information with market context.

This 1,268-square-foot flex space in LaSalle Township provides a practical commercial setting for business operations, equipment storage, or relocation of an existing operation. Occupancy documentation is already in place, and the property includes city water access for utility service.

Located along US-24 just south of Stein Rd., the property benefits from visibility to passing traffic. The space can accommodate a range of commercial needs while giving an owner or operator a clearly positioned site within the local area.

Key Highlights

• 1,268‑square‑foot flex space
• Certificate of Occupancy in hand
• Located along US‑24 in LaSalle Township

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

$7,716

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

5.94%

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%

$154,320 $154.3K

Cap Rate 7%

$110,229 $110.2K

Cap Rate 9%

$85,733 $85.7K

Market Conditions

NOI Build-Up for 1,268 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

$12.6K $9.96/SF

− Vacancy

−$758 −$0.60/SF

EGI

$11.9K $9.36/SF

− OpEx

−$4.2K −$3.28/SF

NOI

$7.7K $6.09/SF

Area

Monroe County, MI

Vacancy

6.00%

Lease Rate

$9.96 /SF/Yr

Expense Ratio

35.00%

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%

$154,320

Cap Rate 7%

$110,229

Cap Rate 9%

$85,733

Alternative Uses

Best Use

Industrial

$1.08M

$942.4K – $1.26M (±1% cap)

NOI $75,390 @ 7.0% cap · market cap 57.99%

Second Best

Retail

$174.0K

$152.3K – $203.0K (±1% cap)

NOI $12,182 @ 7.0% cap · market cap 9.37%

Theoretical Best

Warehouse

$1.31M

$1.14M – $1.53M (±1% cap)

NOI $91,545 @ 7.0% cap · market cap 70.42%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Building Supply HVAC Service Carpet & Flooring Store Florist Pet Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

30

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 48145, MI

3,332

Population

1,318

Households

2.5

Avg Household Size

47

Median Age

23%

College-Educated

89%

High-School Grad

17.0 sq mi

ZIP Area

196

Density / Sq Mi

$80,357

Median Household Income

$48,782

Median Earnings

$1,038

Median Rent

$227,700

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Flex space - Commercial space offers US-24 exposure, city water access, and a location south of Stein Rd.

Where is this flex space located?

The property is located at 12989 S Telegraph La Salle, MI.

What is the asking price?

The asking price for this property is $129,999.

What are key features of this property?

This property features: 1,268‑square‑foot flex space; Certificate of Occupancy in hand; Located along US‑24 in LaSalle Township