Flex Space on Creek-Adjacent
For Sale
$1,980,000
200 N 30th Street, Escanaba, MI 49829
COMMERCIAL - Escanaba, MI
Property Size8,918 SF
Lot Size4.63 Acres
Price / SF$222.02
Days on Market577
Property Features for 200 N 30th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial,Industrial
Zoning description
Commercial, Industrial
Parking features
Parking Lot
Exterior features
Fence Owned
Fencing
Fenced
Lot features
Corner Lot
Subdivision
Escanaba (21010)
Standard status
Active
Size
8,918 SF
Lot size
4.63 Acres
Utilities
Heating system
Oil, Space Heater
Cooling system
Central Air, Exhaust Fan (Cooling)
Water source
Public
Water front features
Creek
Building Details
Year built
1981
Roof type
Metal
Listing Agency:
KEY REALTY DELTA COUNTY LLC
(906) 233-7455
Listed By:
JAMIE BEAVER · License #6502370675
(906) 399-9033
Added: Jan 20, 2025
Changed: Aug 4
Last Checked: Aug 20 at 10:06PM
MLS# 50164932
Copyright © 2026 Upper Peninsula Association of Realtors. 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.
Flex space building totaling 8,918 SF on a 3.129-acre lot, built in 1981. The property offers 488 feet of frontage on 1st Ave North and 213 feet on North 30th, with a unique lot shape. A 200 x 200 paved parking lot supports vehicle and event parking needs, and the site includes fencing (fenced, fence owned). The building features a metal roof, public water, oil heating with space heater(s), and central air with an exhaust fan (cooling).
Zoned for commercial and industrial use (Commercial,Industrial), the property is located in Escanaba and is described as highly visible with frontage on 1st Ave North and North 30th. The surrounding area includes nearby shopping and entertainment options, including Menards, a movie theater, shopping malls, Walmart, Aldi, and Meijer. The remarks also note proximity to the hospital and the airport.
This flex space configuration and site setup can support a range of business uses consistent with a commercial-industrial zoning designation.
Zoned for commercial and industrial use (Commercial,Industrial), the property is located in Escanaba and is described as highly visible with frontage on 1st Ave North and North 30th. The surrounding area includes nearby shopping and entertainment options, including Menards, a movie theater, shopping malls, Walmart, Aldi, and Meijer. The remarks also note proximity to the hospital and the airport.
This flex space configuration and site setup can support a range of business uses consistent with a commercial-industrial zoning designation.
Key Highlights
- 8,918 SF flex space building on a 3.129‑acre lot
- 488 feet frontage on 1st Ave North and 213 feet on North 30th
- 200 x 200 paved parking lot
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
$63,300
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
3.20%
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%
$1,266,000
$1.3M
Cap Rate 7%
$904,286
$904.3K
Cap Rate 9%
$703,333
$703.3K
Market Conditions
NOI Build-Up for 8,918 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
$107.0K $12.00/SF
− Vacancy
−$9.6K −$1.08/SF
EGI
$97.4K $10.92/SF
− OpEx
−$34.1K −$3.82/SF
NOI
$63.3K $7.10/SF
Area
Delta County, MI
Vacancy
9.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
35.00%
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%
$1,266,000
Cap Rate 7%
$904,286
Cap Rate 9%
$703,333
Alternative Uses
Best Use
Flex RnD
$904.3K
$791.3K – $1.06M
NOI $63,300 @ 7.0% cap · market cap 3.20%
Second Best
Industrial
$787.9K
$689.5K – $919.3K
NOI $55,156 @ 7.0% cap · market cap 2.79%
Theoretical Best
Office A
$1.75M
$1.53M – $2.04M
NOI $122,204 @ 7.0% cap · market cap 6.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
585
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 49829, MI
17,009
Population
8,729
Households
1.9
Avg Household Size
45
Median Age
19%
College-Educated
90%
High-School Grad
66.8 sq mi
ZIP Area
255
Density / Sq Mi
$45,808
Median Household Income
$31,366
Median Earnings
$667
Median Rent
$139,000
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 - Flex space building with metal roof, central air, and oil heat on a creek-adjacent commercial-industrial site.
Where is this flex space located?
The property is located at 200 N 30th Street Escanaba, MI.
What is the asking price?
The asking price for this property is $1,980,000.
What are key features of this property?
This property features: 8,918 SF flex space building on a 3.129‑acre lot; 488 feet frontage on 1st Ave North and 213 feet on North 30th; 200 x 200 paved parking lot
