Midland Industrial Building For
For Sale
Contact for pricing
2007 Austin St, Midland, MI
40,167 SF industrial building with office and warehouse space.
Property Size40,167 SF
Lot Size2.87 Acres
Price / SF$59.73
Days on Market258
Property Features for 2007 Austin St
General Information
Standard status
Active
Size
40,167 SF
Lot size
2.87 Acres
Property subtype
INDUSTRIAL
Listing Agency:
Trademark Commercial Group
(989) 295-0353
Listed By:
Gretchen Witherspoon,SIOR,CCIM
(989) 295-0353
Source:
Moodyscre
Added: Nov 24, 2025
Changed: Jul 6
Last Checked: Aug 8 at 12:25PM
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 Trademark Commercial Group
Investment Insights
Based on property information with market context.
This is a 40,167 square foot industrial building situated on approximately 3.712 acres, which includes both the building on the land parcel and an adjoining parking lot parcel. The land parcel is 2.87 acres with the building, plus 0.842 acres for the adjoining parking lot. The entire building is finished as training and office space, but the high bay area can be converted to warehouse, shop, or industrial use by removing the drop ceiling. Approximately 11,000 square feet is one-story office space. The remaining 29,000 square feet of the building has a drop ceiling with an approximate 20-foot concealed ceiling height. The building features one dock/recessed truck well. The property is meticulously maintained, in excellent condition, and has easy access to US-10 Expressway, and is 17 miles to I-75.
Key Highlights
- Approximately 40,167 SF industrial building on 3.712 acres (including adjoining parking lot).
- High bay area adaptable to Warehouse/Shop/Industrial use by removing drop ceiling.
- Meticulously maintained and in excellent condition.
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
$205,057
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
8.55%
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%
$4,101,140
$4.1M
Cap Rate 7%
$2,929,386
$2.9M
Cap Rate 9%
$2,278,411
$2.3M
Market Conditions
NOI Build-Up for 40,167 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
$313.3K $7.80/SF
− Vacancy
−$20.4K −$0.51/SF
EGI
$292.9K $7.29/SF
− OpEx
−$87.9K −$2.19/SF
NOI
$205.1K $5.11/SF
Area
Midland County, MI
Vacancy
6.50%
Lease Rate
$7.80 /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%
$4,101,140
Cap Rate 7%
$2,929,386
Cap Rate 9%
$2,278,411
Alternative Uses
Best Use
Office B
$5.39M
$4.72M – $6.29M
NOI $377,409 @ 7.0% cap · market cap 15.73%
Second Best
Warehouse
$3.27M
$2.86M – $3.81M
NOI $228,614 @ 7.0% cap · market cap 9.53%
Theoretical Best
Flex RnD
$7.25M
$6.34M – $8.46M
NOI $507,488 @ 7.0% cap · market cap 21.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
224
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Midland Towne Center Storage — 1583 Washington St, Midland, MI 48640
Frequently Asked Questions
What type of property is this?
Warehouse - 40,167 SF industrial building with office and warehouse space.
Where is this warehouse located?
The property is located at 2007 Austin St Midland, MI.
What is the asking price?
The asking price for this property is $2,399,000.
What are key features of this property?
This property features: Approximately 40,167 SF industrial building on 3.712 acres (including adjoining parking lot).; High bay area adaptable to Warehouse/Shop/Industrial use by removing drop ceiling.; Meticulously maintained and in excellent condition.
