Flex Space with
For Sale
$385,000
Pending
1983 N Lapeer Rd, Lapeer, MI 48446
Commercial flex facility combining customer-facing showroom space with rear operational areas and overhead loading access.
Property Size3,360 SF
Lot Size0.70 Acres
Days on Market71
Property Features for 1983 N Lapeer Rd
General Information
Standard status
Pending
Size
3,360 SF
Lot size
0.70 Acres
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
dual overhead roll-up doors
Building Details
Year Built
1997
Buildings
1
Building Size
3,360 SF
Listing Agency:
Realty Executives Main St LLC
Listed By:
George Brennan Jr
(810) 614-1026
Source:
Metrodetroithomeguide
Added: Aug 7
Changed: Oct 1
Last Checked: Oct 14 at 11:29PM
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 Realty Executives Main St LLC
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Investment Insights
Based on property information with market context.
This 3,360 gross square foot flex property combines a front retail and showroom component with adaptable rear space for loading, storage, staging, equipment access, or business operations. Two overhead roll-up doors support movement between the building and the paved asphalt parking area. The property previously housed Sam & Jake’s Tools.
The 0.70-acre parcel is positioned along N. Lapeer Road, also designated M-24, with direct highway frontage. Customer parking is located toward the front of the site, while the deep lot provides additional area for service vehicles, inventory, or other operational needs. The address is 1983 N Lapeer Road, Lapeer, MI 48446.
The 0.70-acre parcel is positioned along N. Lapeer Road, also designated M-24, with direct highway frontage. Customer parking is located toward the front of the site, while the deep lot provides additional area for service vehicles, inventory, or other operational needs. The address is 1983 N Lapeer Road, Lapeer, MI 48446.
Key Highlights
- 3,360 gross sq. ft. flex facility on a 0.70‑acre lot
- Front retail/showroom area with adaptable rear operational space
- Two overhead roll‑up doors for loading, equipment access, or storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,451
Cap Rate
7.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$589,020
$589.0K
Cap Rate 7%
$420,729
$420.7K
Cap Rate 9%
$327,233
$327.2K
Market Conditions
NOI Build-Up for 3,360 SF
Gross rent
$50.4K $15.00/SF
− Vacancy
−$5.1K −$1.52/SF
EGI
$45.3K $13.49/SF
− OpEx
−$15.9K −$4.72/SF
NOI
$29.5K $8.77/SF
Area
Lapeer County, MI
Vacancy
10.10%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$589,020
Cap Rate 7%
$420,729
Cap Rate 9%
$327,233
Alternative Uses
Best Use
Flex RnD
$420.7K
$368.1K – $490.9K
NOI $29,451 @ 7.0% cap · market cap 7.65%
Second Best
Retail
$331.0K
$289.7K – $386.2K
NOI $23,172 @ 7.0% cap · market cap 6.02%
Theoretical Best
Healthcare Medical
$550.2K
$481.5K – $641.9K
NOI $38,516 @ 7.0% cap · market cap 10.00%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48446, MI
30,788
Population
12,797
Households
2.4
Avg Household Size
45
Median Age
20%
College-Educated
93%
High-School Grad
121.9 sq mi
ZIP Area
253
Density / Sq Mi
$66,382
Median Household Income
$40,263
Median Earnings
$976
Median Rent
$206,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Commercial flex facility combining customer-facing showroom space with rear operational areas and overhead loading access.
Where is this flex space located?
The property is located at 1983 N Lapeer Rd Lapeer, MI.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: 3,360 gross sq. ft. flex facility on a 0.70‑acre lot; Front retail/showroom area with adaptable rear operational space; Two overhead roll‑up doors for loading, equipment access, or storage
