Warehouse Property with
For Sale
$499,000
14043 Fulton Street, Lowell, MI 49331
Warehouse facilities on a substantial commercial site with utilities, accessibility features, and on-site parking.
Property Size5,606 SF
Lot Size9.75 Acres
Days on Market42
Property Features for 14043 Fulton Street
General Information
Standard status
Active
Size
5,606 SF
Lot size
9.75 Acres
Property subtype
Commercial
Site & Location
Road Access
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$2,414
Building Details
Building Size
5,606 SF
Year Built
1986
Buildings
1
Stories
5606
Units
1
Listing Agency:
Greenridge Realty (Summit)
(740) 475-7382
Listed By:
Barry D Kaufman
Source:
Erareardonrealty
Added: Jul 20
Changed: Aug 28
Last Checked: Aug 29 at 10:18AM
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 Greenridge Realty (Summit)
Investment Insights
Based on property information with market context.
This warehouse property, constructed in 1986, includes over 5,000 square feet of commercial space on a 9.75-acre site. The improvements are supported by full utilities, accessibility features, a new water heater, and abundant parking.
The property is located on Fulton Street in Lowell Township, Michigan. Its combination of warehouse space and a large site provides a substantial physical footprint for commercial operations and related outdoor needs.
The property is located on Fulton Street in Lowell Township, Michigan. Its combination of warehouse space and a large site provides a substantial physical footprint for commercial operations and related outdoor needs.
Key Highlights
- Over 5,000 square feet of warehouse space
- 9.75‑acre commercial site
- Full utilities serving the property
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
$31,833
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
6.38%
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%
$636,660
$636.7K
Cap Rate 7%
$454,757
$454.8K
Cap Rate 9%
$353,700
$353.7K
Market Conditions
NOI Build-Up for 5,606 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
$38.6K $6.88/SF
− Vacancy
−$1.1K −$0.20/SF
EGI
$37.5K $6.68/SF
− OpEx
−$5.6K −$1.00/SF
NOI
$31.8K $5.68/SF
Area
Kent County, MI
Vacancy
2.90%
Lease Rate
$6.88 /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%
$636,660
Cap Rate 7%
$454,757
Cap Rate 9%
$353,700
Alternative Uses
Best Use
Warehouse
$454.8K
$397.9K – $530.6K
NOI $31,833 @ 7.0% cap · market cap 6.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.00M
$877.3K – $1.17M
NOI $70,187 @ 7.0% cap · market cap 14.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
11
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49331, MI
18,023
Population
7,208
Households
2.5
Avg Household Size
40
Median Age
39%
College-Educated
96%
High-School Grad
91.5 sq mi
ZIP Area
197
Density / Sq Mi
$92,443
Median Household Income
$49,286
Median Earnings
$1,109
Median Rent
$293,600
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?
Warehouse - Warehouse facilities on a substantial commercial site with utilities, accessibility features, and on-site parking.
Where is this warehouse located?
The property is located at 14043 Fulton Street Lowell, MI.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Over 5,000 square feet of warehouse space; 9.75‑acre commercial site; Full utilities serving the property
