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    Warehouse with Drive-In Doors and IOS Title is generated by Realmo AI

    15700 Winans St, West Olive, MI 49460

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    New 2026 build-to-suit industrial property with drive-in access, showroom/office space, and outdoor storage under IOS-permitting zoning.

    Type:INDUSTRIAL
    Property size:
    13,264 SF
    Price / SF:
    $320/SF
    Added:
    Jun 2, 2026
    Days on Market:
    7
    Last Refresh:
    Jun 5 at 2:33 am

    Property Features for 15700 Winans St

    General Information

    Standard status
    Active
    Size
    13,264 SF
    Property subtype
    INDUSTRIAL

    We can help!

    Listing Contact
    Carson Jeremiah
    Carson Jeremiah

    Listing agent Carson Jeremiah

    Listing office B+E

    Listing date Jun 2, 2026

    Source Moodyscre

    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 B+E

    HighLights

    • New 2026 build‑to‑suit industrial property just outside Grand Rapids with about 10,044 SF warehouse and 3,220 SF showroom/office.
    • Warehouse includes two drive‑in doors, supporting equipment storage and warehouse operations.
    • Outdoor storage (IOS) totals over 2.4 acres, with industrial zoning permitting outdoor storage.
    • NNN lease commenced May 2026 with minimal landlord responsibilities; includes 2.5% annual increases and two 5‑year options.
    • Property is leased to SRS Distribution Inc., a wholesale distributor of roofing and exterior building products.
    • Adjacent to U.S. Highway 31 with direct access to U.S. Highway 45, connecting efficiently to I‑96 and I‑196.

    Overview

    The property is a newly completed 2026 build-to-suit industrial facility featuring two buildings on site. Approximately 10,044 SF is dedicated to warehouse space for equipment storage, supported by two drive-in doors. An additional 3,220 SF is allocated to showroom and office use, creating a dedicated front-end function alongside warehouse operations. The site also offers over 2.4 acres of outdoor storage (IOS) and includes substantial paved areas for storage and maneuvering, with generous parking for cars, trucks, and trailers. Industrial zoning permits outdoor storage, supporting ongoing IOS use.

    The asset is located just outside Grand Rapids, Michigan, with direct access to major transportation corridors. The property is adjacent to U.S. Highway 31, with access to U.S. Highway 45, which connect efficiently to I-96 and I-196 and provide regional connectivity to key markets including Grand Rapids, Lansing, Detroit, and Chicago.

    For buyers, the property is leased to SRS Distribution Inc., a wholesale distributor of roofing and other exterior building products serving professional contractors. The facility is supported by a newly executed NNN lease that commenced in May of this year, with minimal landlord responsibilities. The lease includes 2.5% annual increases and two 5-year options, aligning with a long-term occupancy structure. The site further includes approximately 0.57 acres designated for potential future expansion, positioned to support additional storage for roofing and building materials.

    Local Financial Insights For Warehouse

    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 $286.5k $21.60
    − Vacancy −$23.8k −$1.79
    EGI $262.7k $19.81
    − OpEx −$39.4k −$2.97
    NOI $223.3k $16.84
    13,264 SF · lease $21.60/SF/yr · vacancy 8.30% · expense 15.00%

    Alternative Uses

    Best Use
    Warehouse
    $3.19M
    $2.79M – $3.72M (±1% cap)
    NOI $223,314 @ 7.0% cap · market cap 5.25%
    Second Best
    Industrial
    $2.80M
    $2.45M – $3.26M (±1% cap)
    NOI $195,738 @ 7.0% cap · market cap 4.61%
    Theoretical Best
    Multifamily LT 5
    $164.94M
    $144.32M – $192.43M (±1% cap)
    NOI $11,545,901 @ 7.0% cap · market cap 271.67%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Mattson Landscaping Landscaping

    Suggested Use

    Restaurant Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Auto Parts Store Hotel & Motel Food Market Discount Store Garden Center Car Rental Facility

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    West Olive
    County
    Ottawa
    State
    Michigan
    Longitude
    -86.174494
    Latitude
    42.963907

    Nearby Similar for Sale

    • $1,799,900
      54,000 SF

      West Olive Farmland and Facility

      20-acre property with packing facility and blueberry field.
      11871 144th Avenue, West Olive, MI 49460
      View Details
    • $4,250,000
      13,264 SF

      Industrial Warehouse For Sale

      Industrial warehouse property offered for sale, suited for buyers seeking flexible warehouse space.
      15700 Winans Street, West Olive, MI 49460
      View Details

    FAQs

    What type of property is this?
    Flex space - New 2026 build-to-suit industrial property with drive-in access, showroom/office space, and outdoor storage under IOS-permitting zoning.
    Where is this flex space located?
    The property is located at 15700 Winans St West Olive, MI.
    What is the asking price?
    The asking price for this property is $4,250,000.
    What are key features of this property?
    This property features: New 2026 build‑to‑suit industrial property just outside Grand Rapids with about 10,044 SF warehouse and 3,220 SF showroom/office.; Warehouse includes two drive‑in doors, supporting equipment storage and warehouse operations.; Outdoor storage (IOS) totals over 2.4 acres, with industrial zoning permitting outdoor storage.
    (646) 770-0659 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Carson Jeremiah
    Carson Jeremiah
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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