Flex Space With Overhead
For Sale
$259,000
16-6357 E Railway Cmn, Williamsburg, MI 49690
Business park unit suited to storage, personal property, recreation, or light commercial activity.
Property Size2,500 SF
Price / SF$103.60
Days on Market405
Property Features for 16-6357 E Railway Cmn
General Information
Standard status
Active
Size
2,500 SF
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Warehouse & Industrial
Warehouse Space
2,500 SF
Power
200 amps
Amenities
shared bathroom
Listing Agency:
Coldwell Banker Schmidt Traverse City
(231) 218-4463
Listed By:
Karen Schmidt · License #6501234844
(231) 218-4463
Source:
Exprealty
Added: Jul 23, 2025
Changed: Aug 30
Last Checked: Aug 30 at 7:02PM
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 Coldwell Banker Schmidt Traverse City
Investment Insights
Based on property information with market context.
This 2,500-square-foot flex unit occupies a 50' x 50' footprint within Railway Commons Business Park. The space includes a 14' x 14' insulated overhead door with an opener, two windows, and a separate service entrance. Plumbing is in place for a gas heater, while cold water and a hose bib support practical utility needs. Electrical service is rated at 200 amps.
Occupants also have access to a shared bathroom equipped with a sink and laundry tub. The property is in Acme Township with access to M-72 and US-31, supporting convenient travel to and from the business park. Stated potential uses include business, personal, recreational, storage, and light commercial functions.
Occupants also have access to a shared bathroom equipped with a sink and laundry tub. The property is in Acme Township with access to M-72 and US-31, supporting convenient travel to and from the business park. Stated potential uses include business, personal, recreational, storage, and light commercial functions.
Key Highlights
- 2,500‑square‑foot flex unit with a 50' x 50' footprint
- 14' x 14' insulated overhead door with opener
- 200‑amp electrical service
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
$19,895
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
7.68%
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%
$397,900
$397.9K
Cap Rate 7%
$284,214
$284.2K
Cap Rate 9%
$221,056
$221.1K
Market Conditions
NOI Build-Up for 2,500 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
$24.9K $9.96/SF
− Vacancy
−$1.5K −$0.60/SF
EGI
$23.4K $9.36/SF
− OpEx
−$3.5K −$1.40/SF
NOI
$19.9K $7.96/SF
Area
Grand Traverse County, MI
Vacancy
6.00%
Lease Rate
$9.96 /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%
$397,900
Cap Rate 7%
$284,214
Cap Rate 9%
$221,056
Alternative Uses
Best Use
Flex RnD
$367.9K
$321.9K – $429.2K
NOI $25,752 @ 7.0% cap · market cap 9.94%
Second Best
Warehouse
$284.2K
$248.7K – $331.6K
NOI $19,895 @ 7.0% cap · market cap 7.68%
Theoretical Best
Office A
$543.1K
$475.2K – $633.6K
NOI $38,016 @ 7.0% cap · market cap 14.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
56
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49690, MI
6,494
Population
3,476
Households
1.9
Avg Household Size
50
Median Age
45%
College-Educated
97%
High-School Grad
82.7 sq mi
ZIP Area
79
Density / Sq Mi
$105,701
Median Household Income
$47,114
Median Earnings
$1,279
Median Rent
$329,100
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Business park unit suited to storage, personal property, recreation, or light commercial activity.
Where is this flex space located?
The property is located at 16-6357 E Railway Cmn Williamsburg, MI.
What is the asking price?
The asking price for this property is $259,000.
What are key features of this property?
This property features: 2,500‑square‑foot flex unit with a 50' x 50' footprint; 14' x 14' insulated overhead door with opener; 200‑amp electrical service
