Small-Bay Flex Space
For Sale
$200,000
16943 Wood Lane Road, Nunica, MI 49448
Commercial Sale, Nunica, MI
Property Size1,000 SF
Price / SF$200
Days on Market47
Property Features for 16943 Wood Lane Road
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Elementary school district
Spring Lake
Middle school district
Spring Lake
High school district
Spring Lake
Standard status
Active
APN
70-04-16-451-011
Size
1,000 SF
Taxes and HOA fees
Tax Description
SOUTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SECTION 16 TOWN 8 NORTH RANGE 15 WEST CROCKERY TOWNSHIP OTTAWA COUNTY MICHIGAN
Legal Description
SOUTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SECTION 16 TOWN 8 NORTH RANGE 15 WEST CROCKERY TOWNSHIP OTTAWA COUNTY MICHIGAN
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Heating system
Forced Air
Building Details
Year built
2026
Floors in Building
1
Number of units
1
Building materials
Vinyl Siding, Metal Siding
Roof type
Metal
Listing Agency:
Harbour Pointe Realty
(616) 481-6450
Listed By:
Stephanie Harris
(616) 520-5062
Added: Jul 26
Changed: Aug 27
Last Checked: Sep 10 at 3:06PM
MLS# 26038572
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This under-construction flex space condominium is part of a six-unit small-bay industrial condominium development. The unit measures 1,000 square feet and is planned with a bathroom, ample power, and customization options for amenities and sizing. Forced-air heating, a metal roof, and vinyl and metal siding are specified for the building.
The project is planned as the first of four buildings at 16943 Wood Lane Road in Nunica, Michigan. Cable service is available, and the property is served by a septic tank. Construction is scheduled for completion in 2026.
The project is planned as the first of four buildings at 16943 Wood Lane Road in Nunica, Michigan. Cable service is available, and the property is served by a septic tank. Construction is scheduled for completion in 2026.
Key Highlights
- 1,000‑square‑foot flex space condominium
- One of 6 small‑bay industrial condo units
- First building in a planned four‑building development
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
$14,757
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
7.38%
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%
$295,140
$295.1K
Cap Rate 7%
$210,814
$210.8K
Cap Rate 9%
$163,967
$164.0K
Market Conditions
NOI Build-Up for 1,000 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
$21.6K $21.60/SF
− Vacancy
−$518 −$0.52/SF
EGI
$21.1K $21.08/SF
− OpEx
−$6.3K −$6.32/SF
NOI
$14.8K $14.76/SF
Area
Ottawa County, MI
Vacancy
2.40%
Lease Rate
$21.60 /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%
$295,140
Cap Rate 7%
$210,814
Cap Rate 9%
$163,967
Alternative Uses
Best Use
Industrial
$210.8K
$184.5K – $246.0K
NOI $14,757 @ 7.0% cap · market cap 7.38%
Second Best
Flex RnD
$51.1K
$44.7K – $59.6K
NOI $3,576 @ 7.0% cap · market cap 1.79%
Theoretical Best
Multifamily LT 5
$12.44M
$10.88M – $14.51M
NOI $870,469 @ 7.0% cap · market cap 435.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
91
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49448, MI
4,027
Population
1,700
Households
2.4
Avg Household Size
39
Median Age
35%
College-Educated
93%
High-School Grad
33.0 sq mi
ZIP Area
122
Density / Sq Mi
$81,536
Median Household Income
$50,000
Median Earnings
$738
Median Rent
$266,200
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?
Flex space - Under-construction industrial condominium with a private bathroom, configurable improvements, and ample power for business operations.
Where is this flex space located?
The property is located at 16943 Wood Lane Road Nunica, MI.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: 1,000‑square‑foot flex space condominium; One of 6 small‑bay industrial condo units; First building in a planned four‑building development
