Building Details

Construction brick

Listing Agency: Sine & Monaghan Realtors LLC St Clair a***@sinemonaghan.com Show Phone

Listed By: Stefanie Distelrath · License #6501330941 Show Phone

Source: Xome

Added: Mar 6, 2022 Changed: Sep 2 Last Checked: Sep 5 at 3:36AM

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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 Sine & Monaghan Realtors LLC St Clair

Investment Insights

Based on property information with market context.

Former Pirrone Produce Company industrial site featuring a 2,400-square-foot brick office building with office areas plus kitchen, bathrooms, and a full basement. The office includes a generator, air conditioning, and forced-air heating. Several separate warehouse buildings are also included, built at different times as the company expanded.

The largest building was constructed in 2010 and features eight truck loading doors, 25-foot ceilings, and 3-phase power with 1,600 amps. The complex totals approximately 56,000 square feet across the buildings, with additional space for expansion on the 12.8-acre site. The facility previously supported sorting, washing, packing, and shipping produce to locations throughout the country, and is approximately five miles from the I-69 Capac exit.

Key Highlights

• 2400 SF brick office building with business space, kitchen, bathrooms, and a full basement
• Warehouse complex on 12.8 acres with approx. 56,000 SF across multiple buildings
• Largest building (built in 2010) includes 8 truck loading doors and 25‑foot ceilings

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

$339,822

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

9.06%

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%

$6,796,440 $6.8M

Cap Rate 7%

$4,854,600 $4.9M

Cap Rate 9%

$3,775,800 $3.8M

Market Conditions

NOI Build-Up for 58,000 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

$522.0K $9.00/SF

− Vacancy

−$36.5K −$0.63/SF

EGI

$485.5K $8.37/SF

− OpEx

−$145.6K −$2.51/SF

NOI

$339.8K $5.86/SF

Area

St. Clair County, MI

Vacancy

7.00%

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%

$6,796,440

Cap Rate 7%

$4,854,600

Cap Rate 9%

$3,775,800

Alternative Uses

Best Use

Warehouse

$5.89M

$5.16M – $6.88M (±1% cap)

NOI $412,641 @ 7.0% cap · market cap 11.00%

Second Best

Industrial

$4.85M

$4.25M – $5.66M (±1% cap)

NOI $339,822 @ 7.0% cap · market cap 9.06%

Theoretical Best

Multifamily LT 5

$43.60M

$38.15M – $50.87M (±1% cap)

NOI $3,052,172 @ 7.0% cap · market cap 81.39%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Distribution centers

Suggested Use

Top Pick Electrical Service Big Box & Wholesale Store Bakery Home Appliance Store Tech Support Center Food Market

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

25 ft

Clear height

8

Dock-high doors

Yes

Heavy power

Location Intelligence

Trade Area within ½ mile

2

Businesses Nearby

Explore this area Business Placement

Demographics for 48014, MI

4,323

Population

1,763

Households

2.5

Avg Household Size

40

Median Age

10%

College-Educated

90%

High-School Grad

36.8 sq mi

ZIP Area

117

Density / Sq Mi

$70,341

Median Household Income

$42,244

Median Earnings

$827

Median Rent

$208,400

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

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

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

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Frequently Asked Questions

What type of property is this?

Distribution center - Warehouse complex includes a brick office building and multiple warehouse structures with truck loading doors and high ceilings.

Where is this distribution center located?

The property is located at 15313 Bryce Capac, MI.

What is the asking price?

The asking price for this property is $3,750,000.

What are key features of this property?

This property features: 2400 SF brick office building with business space, kitchen, bathrooms, and a full basement; Warehouse complex on 12.8 acres with approx. 56,000 SF across multiple buildings; Largest building (built in 2010) includes 8 truck loading doors and 25‑foot ceilings