Commercial Industrial Flex
1920 N State Road Ionia, MI 48846
1920 N State Road, Ionia, MI, 48846
$5,000,000
For Sale
$5,000,000
Approx. 39,000 SF of improvements sit on a contiguous +/-35-acre commercial/industrial site with frontage on M-66.
Property Size39,000 SF
Lot Size35.00 Acres
Price / SF$128.21
Days on Market232
Property Features for 1920 N State Road
General Information
- Standard status
- Active
- Size
- 39,000 SF
- Lot size
- 35.00 Acres
- Property subtype
- Commercial
Listing agency
Five Star Real Estate (Courtland)
(616) 232-8911
Listed by
Dylon C de Leon
(616) 232-8911
Source
Homesforsaleinmich
Added: Dec 1, 2025 Updated: Jul 21 at 1:57PM Checked: Jul 21 at 1:57PM
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 Five Star Real Estate (Courtland)
Investment Insights
Based on property information with market context.
This +/-35-acre commercial/industrial property includes approximately 39,000 SF of improvements and is configured as a large contiguous site. Functional buildings are on-site, supporting a flexible commercial and industrial use profile for qualified buyers.
The property is located on M-66 in Ionia Township and features frontage, which can support a variety of site-oriented operations. Buyer to verify all information.
While specific building details are not provided, the combination of sizable land area, on-site improvements, and frontage makes the site suitable for organizations looking for a flexible footprint within a single continuous parcel.
The property is located on M-66 in Ionia Township and features frontage, which can support a variety of site-oriented operations. Buyer to verify all information.
While specific building details are not provided, the combination of sizable land area, on-site improvements, and frontage makes the site suitable for organizations looking for a flexible footprint within a single continuous parcel.
Key Highlights
- Approx. 39,000 SF of improvements on a contiguous +/-35‑acre commercial/industrial site
- Frontage on M‑66 in Ionia Township
- Large contiguous site with functional buildings
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 | $664.6k | $17.04 |
| − Vacancy | −$29.9k | −$0.77 |
| EGI | $634.7k | $16.27 |
| − OpEx | −$222.1k | −$5.70 |
| NOI | $412.5k | $10.58 |
39,000 SF · lease $17.04/SF/yr · vacancy 4.50% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$5.89M
$5.16M – $6.88M
NOI $412,526 @ 7.0% cap · market cap 8.25%
Second Best
Industrial
$2.61M
$2.28M – $3.04M
NOI $182,377 @ 7.0% cap · market cap 3.65%
Theoretical Best
Specialty Retail
$7.43M
$6.50M – $8.67M
NOI $520,196 @ 7.0% cap · market cap 10.40%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Lillie's Foreign & Domestic ...
Auto Repair Shop
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - Approx. 39,000 SF of improvements sit on a contiguous +/-35-acre commercial/industrial site with frontage on M-66.
Where is this flex space located?
The property is located at 1920 N State Road Ionia, MI.
What is the asking price?
The asking price for this property is $5,000,000.
What are key features of this property?
This property features: Approx. 39,000 SF of improvements on a contiguous +/-35‑acre commercial/industrial site; Frontage on M‑66 in Ionia Township; Large contiguous site with functional buildings
