Warehouse with Retail Showroom
For Sale
$867,000
Pending
13240 US 131 Highway N, Schoolcraft, MI 49087
COMMERCIAL - Schoolcraft, MI
Property Size10,350 SF
Lot Size7.53 Acres
Days on Market52
Property Features for 13240 US 131 Highway N
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
Commercial
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Parking
40
Interior features
Broadband
Elementary school district
Schoolcraft
Middle school district
Schoolcraft
High school district
Schoolcraft
Directions
US 131 Just South of W U Ave on the West Side of the road
Standard status
Pending
APN
14-18-130-051
Size
10,354 SF
Lot size
7.53 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Metes & Bounds
Tax Annual Amount
10700
Legal Description
Metes & Bounds
Utilities
Utilities
Natural Gas Available
Sewer type
Septic Tank
Heating system
Forced Air
Cooling system
Central Air
Water source
Well
Amenities
retail/showroom
12 ft ceilings
customer-facing areas
overhead doors
warehouse & storage area
14 ft ceilings
natural gas
single-phase & 3-phase electrical
mezzanine
parking
Building Details
Year built
1975
Floors in Building
2
Number of units
1
Building materials
Aluminum Siding
Roof type
Metal
Listing Agency:
RE/MAX Advantage · RE/MAX International
(269) 323-3900
Listed By:
Shelly Pattison · License #MI6501250397
(269) 217-4825
Added: Jul 1
Changed: Aug 5
Last Checked: Aug 21 at 2:06AM
MLS# 26033237
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This for-sale commercial property offers a versatile layout combining a front retail/showroom portion with an adjacent warehouse and storage area. The front features impressive 12-foot ceilings, customer-facing space, and two 8- and 2-foot grade-level overhead doors. The rear warehouse and storage section provides 14-foot ceilings and additional overhead doors sized 8 feet and 10 feet.
The building also includes a second-story mezzanine that can serve office, conference, and storage needs. Utilities are in place with natural gas and both single-phase and 3-phase electrical.
Set on 7.53 acres with parking and room for expansion, the property is positioned along US-131 and is suited for a range of commercial and industrial uses, including retail, warehousing, distribution, and contractor operations.
The building also includes a second-story mezzanine that can serve office, conference, and storage needs. Utilities are in place with natural gas and both single-phase and 3-phase electrical.
Set on 7.53 acres with parking and room for expansion, the property is positioned along US-131 and is suited for a range of commercial and industrial uses, including retail, warehousing, distribution, and contractor operations.
Key Highlights
- 7.53‑acre site with 10,350 SF commercial/industrial building with retail/showroom, warehouse, and storage areas
- Front retail/showroom includes 12 ft ceilings and customer‑facing space plus two 8 ft grade‑level overhead doors
- Rear warehouse/storage has 14 ft ceilings plus additional 8 ft and 10 ft overhead doors for inventory, manufacturing, service, or distribution
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
$71,405
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
8.24%
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%
$1,428,100
$1.4M
Cap Rate 7%
$1,020,071
$1.0M
Cap Rate 9%
$793,389
$793.4K
Market Conditions
NOI Build-Up for 10,354 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
$124.2K $12.00/SF
− Vacancy
−$22.2K −$2.15/SF
EGI
$102.0K $9.85/SF
− OpEx
−$30.6K −$2.96/SF
NOI
$71.4K $6.90/SF
Area
Kalamazoo County, MI
Vacancy
17.90%
Lease Rate
$12.00 /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%
$1,428,100
Cap Rate 7%
$1,020,071
Cap Rate 9%
$793,389
Alternative Uses
Best Use
Warehouse
$2.71M
$2.37M – $3.16M
NOI $189,660 @ 7.0% cap · market cap 21.88%
Second Best
Industrial
$2.23M
$1.95M – $2.60M
NOI $156,191 @ 7.0% cap · market cap 18.02%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14 ft
Clear height
2
Drive-in doors
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
131
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 49087, MI
6,403
Population
2,474
Households
2.6
Avg Household Size
42
Median Age
43%
College-Educated
98%
High-School Grad
62.5 sq mi
ZIP Area
102
Density / Sq Mi
$94,556
Median Household Income
$54,172
Median Earnings
$968
Median Rent
$279,800
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Flex-style building combines a front retail/showroom area with grade-level overhead doors and a rear warehouse section.
Where is this flex space located?
The property is located at 13240 US 131 Highway N Schoolcraft, MI.
What is the asking price?
The asking price for this property is $867,000.
What are key features of this property?
This property features: 7.53‑acre site with 10,350 SF commercial/industrial building with retail/showroom, warehouse, and storage areas; Front retail/showroom includes 12 ft ceilings and customer‑facing space plus two 8 ft grade‑level overhead doors; Rear warehouse/storage has 14 ft ceilings plus additional 8 ft and 10 ft overhead doors for inventory, manufacturing, service, or distribution
