Office Warehouse with Divisible
For Sale
Contact for pricing
101 Innovation Pkwy, Williamston, MI 48895
Office warehouse built in 1996 with overhead door loading, divisible into three suites with separate electric and gas service.
Property Size10,622 SF
Price / SF$75.22
Days on Market527
Property Features for 101 Innovation Pkwy
General Information
Standard status
Active
Size
10,622 SF
Total Parking Spaces
42
Property subtype
FLEX_R_AND_D
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1996
Listing Agency:
RE/MAX Commercial Group
(517) 980-9299
Listed By:
Matthew Wisniewski, CCIM · License #6501360426
(517) 980-9299
Source:
Moodyscre
Added: Mar 13, 2025
Changed: Aug 8
Last Checked: Aug 8 at 6:16PM
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 RE/MAX Commercial Group
Investment Insights
Based on property information with market context.
This office warehouse property was built in 1996 and offers a flexible layout that can be divided into three distinct suites. Each suite has its own electric and gas service, providing separation for multiple users or operations within the same building. The center warehouse section includes overhead door access for loading and unloading. The property also includes an outbuilding that was previously used as a backup data center.
The building is set prominently along Williamston Rd on just over one acre in Williamston, Michigan, with 42 dedicated parking spaces. An additional 2.15 acres of adjacent land is available behind the property, which may support expansion or future development.
With office and warehouse functionality combined in one facility, this property is suited for businesses that need both workspace and direct loading access, while retaining the option to operate in separate suites.
The building is set prominently along Williamston Rd on just over one acre in Williamston, Michigan, with 42 dedicated parking spaces. An additional 2.15 acres of adjacent land is available behind the property, which may support expansion or future development.
With office and warehouse functionality combined in one facility, this property is suited for businesses that need both workspace and direct loading access, while retaining the option to operate in separate suites.
Key Highlights
- 10,094 SF office warehouse built in 1996 in Williamston, MI (48895)
- Divisible into three suites, each with its own electric and gas service
- Warehouse portion includes overhead door access for loading and unloading
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
$73,051
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
9.14%
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%
$1,461,020
$1.5M
Cap Rate 7%
$1,043,586
$1.0M
Cap Rate 9%
$811,678
$811.7K
Market Conditions
NOI Build-Up for 10,622 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
$95.6K $9.00/SF
− Vacancy
−$9.7K −$0.91/SF
EGI
$85.9K $8.09/SF
− OpEx
−$12.9K −$1.21/SF
NOI
$73.1K $6.88/SF
Area
Ingham 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%
$1,461,020
Cap Rate 7%
$1,043,586
Cap Rate 9%
$811,678
Alternative Uses
Best Use
Office B
$1.28M
$1.12M – $1.49M
NOI $89,594 @ 7.0% cap · market cap 11.21%
Second Best
Warehouse
$1.04M
$913.1K – $1.22M
NOI $73,051 @ 7.0% cap · market cap 9.14%
Theoretical Best
Office A
$1.71M
$1.49M – $1.99M
NOI $119,459 @ 7.0% cap · market cap 14.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
146
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 48895, MI
11,472
Population
5,019
Households
2.3
Avg Household Size
43
Median Age
50%
College-Educated
97%
High-School Grad
82.9 sq mi
ZIP Area
138
Density / Sq Mi
$100,565
Median Household Income
$57,330
Median Earnings
$1,005
Median Rent
$272,500
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Office warehouse built in 1996 with overhead door loading, divisible into three suites with separate electric and gas service.
Where is this flex space located?
The property is located at 101 Innovation Pkwy Williamston, MI.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 10,094 SF office warehouse built in 1996 in Williamston, MI (48895); Divisible into three suites, each with its own electric and gas service; Warehouse portion includes overhead door access for loading and unloading
