Industrial Warehouse Flex
15675 Morris Industrial Drive Schoolcraft, MI 49087
15675 Morris Industrial Drive, Schoolcraft, MI, 49087
$679,900
For Sale
$679,900
Warehouse and flex space on 4.18 acres with three overhead doors, 10' ceilings, and reinforced concrete floors.
Property Size6,400 SF
Lot Size4.18 Acres
Price / SF$106.23
Days on Market133
Property Features for 15675 Morris Industrial Drive
General Information
- Standard status
- Active
- Size
- 6,400 SF
- Lot size
- 4.18 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 2002
Listing agency
NAI Wisinski of West Michigan
(269) 459-0434
Listed by
Dane L Davis · License #6504368846
(269) 459-0434
Source
Phgrealty
Added: Mar 11 Updated: Jul 21 at 2:15AM Checked: Jul 21 at 2:15AM
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 NAI Wisinski of West Michigan
Investment Insights
Based on property information with market context.
This industrial warehouse flex property includes approximately 6,400 SF of space with 2,000 SF of office area. Improvements feature three overhead doors, 10' ceilings, and 6'' reinforced concrete floors throughout. The offering also includes 4.18 acres of land, providing room for expansion or redevelopment planning.
The property is located in Schoolcraft, Michigan, less than 1/4 mile from US-131. It is described as being in the US-131 Corridor Commercial/Industrial District, and 3-phase electric is available at the street.
On-site configuration supports a range of industrial uses such as warehousing and distribution, as well as manufacturing per the property’s stated possibilities.
The property is located in Schoolcraft, Michigan, less than 1/4 mile from US-131. It is described as being in the US-131 Corridor Commercial/Industrial District, and 3-phase electric is available at the street.
On-site configuration supports a range of industrial uses such as warehousing and distribution, as well as manufacturing per the property’s stated possibilities.
Key Highlights
- Industrial property built in 2002 with approximately 6,400 SF of warehouse/flex space.
- Set on 4.18 acres with expansion space and room for manufacturing, warehousing, distribution, or redevelopment.
- Warehouse features include 3 overhead doors and 10' ceilings.
Local Financial Insights For Flex RnD
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $70.7k | $11.04 |
| − Vacancy | −$4.2k | −$0.66 |
| EGI | $66.4k | $10.38 |
| − OpEx | −$23.2k | −$3.63 |
| NOI | $43.2k | $6.75 |
6,400 SF · lease $11.04/SF/yr · vacancy 6.00% · expense 35.00%
Alternative Uses
Best Use
Warehouse
$1.67M
$1.47M – $1.95M
NOI $117,232 @ 7.0% cap · market cap 17.24%
Second Best
Industrial
$1.38M
$1.21M – $1.61M
NOI $96,544 @ 7.0% cap · market cap 14.20%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - Warehouse and flex space on 4.18 acres with three overhead doors, 10' ceilings, and reinforced concrete floors.
Where is this flex space located?
The property is located at 15675 Morris Industrial Drive Schoolcraft, MI.
What is the asking price?
The asking price for this property is $679,900.
What are key features of this property?
This property features: Industrial property built in 2002 with approximately 6,400 SF of warehouse/flex space.; Set on 4.18 acres with expansion space and room for manufacturing, warehousing, distribution, or redevelopment.; Warehouse features include 3 overhead doors and 10' ceilings.
