Manufacturing Shop
New
For Sale
$489,000
2602 Leith St, Flint, MI 48506
Well-lit commercial shop space offers flexible floor area for manufacturing and fabrication operations.
Property Size15,007 SF
Price / SF$132.16
Days on Market7
Property Features for 2602 Leith St
General Information
Standard status
Active
Size
15,007 SF
Property subtype
Commercial
Additional Details
Clear Height
14 ft
Taxes and HOA fees
Annual Taxes
$7,158
Building Details
Building Size
15,007 SF
Year Built
1954
Listing Agency:
(810) 701-2564
Listed By:
Greg Snyder
(810) 701-2564
Source:
Elliman
Added: Aug 15
Changed: Aug 16
Last Checked: Aug 20 at 10:08AM
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 Greg Snyder
Investment Insights
Based on property information with market context.
Built in 1954, this manufacturing property at 2602 Leith St in Flint provides over 3,700 square feet of commercial shop space. The interior includes well-lit floor area and 14 feet under the lights, supporting a range of manufacturing, machine shop, welding, and fabrication activities.
The property has a Walk Score of 29, a Transit Score of 31, and a Bike Score of 43. Its industrial-oriented configuration provides a straightforward setting for businesses seeking functional production space in Flint.
The property has a Walk Score of 29, a Transit Score of 31, and a Bike Score of 43. Its industrial-oriented configuration provides a straightforward setting for businesses seeking functional production space in Flint.
Key Highlights
- Over 3,700 square feet of commercial shop space
- 14 feet under the lights
- Well‑lit interior floor area
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
$20,956
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
4.29%
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%
$419,120
$419.1K
Cap Rate 7%
$299,371
$299.4K
Cap Rate 9%
$232,844
$232.8K
Market Conditions
NOI Build-Up for 3,700 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
$33.3K $9.00/SF
− Vacancy
−$3.4K −$0.91/SF
EGI
$29.9K $8.09/SF
− OpEx
−$9.0K −$2.43/SF
NOI
$21.0K $5.66/SF
Area
Genesee County, MI
Vacancy
10.10%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
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%
$419,120
Cap Rate 7%
$299,371
Cap Rate 9%
$232,844
Alternative Uses
Best Use
Industrial
$299.4K
$262.0K – $349.3K
NOI $20,956 @ 7.0% cap · market cap 4.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$778.6K
$681.3K – $908.3K
NOI $54,500 @ 7.0% cap · market cap 11.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14 ft
Clear height
Location Intelligence
Trade Area within ½ mile
205
Businesses Nearby
Explore this area
Business Placement
Demographics for 48506, MI
25,069
Population
11,114
Households
2.3
Avg Household Size
39
Median Age
9%
College-Educated
83%
High-School Grad
18.5 sq mi
ZIP Area
1,355
Density / Sq Mi
$44,416
Median Household Income
$31,740
Median Earnings
$897
Median Rent
$91,200
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?
Manufacturing property - Well-lit commercial shop space offers flexible floor area for manufacturing and fabrication operations.
Where is this manufacturing property located?
The property is located at 2602 Leith St Flint, MI.
What is the asking price?
The asking price for this property is $489,000.
What are key features of this property?
This property features: Over 3,700 square feet of commercial shop space; 14 feet under the lights; Well‑lit interior floor area
