Flex Space with Retail
For Sale
$349,900
212 S Carpenter, Kingsford, MI 49802
A customer-facing storefront is complemented by heated storage with double-door delivery access.
Property Size5,000 SF
Lot Size1.38 Acres
Price / SF$69.98
Days on Market207
Property Features for 212 S Carpenter
General Information
Standard status
Active
Size
5,000 SF
Lot size
1.38 Acres
Property subtype
Commercial/Industrial
Site & Location
Pylon Signage
Yes
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Warehouse Space
2,500 SF
Cold Storage
Yes
Additional Details
Property Use
Retail
Amenities
kitchen
his-and-her restrooms
2 pole advertising signs
Security Lighting
Wheelchair Access
Building Details
Year Built
1940
Buildings
1
Building Size
5,000 SF
Listing Agency:
Leeds Real Estate
(906) 779-5333
Listed By:
Linda Plumley · License #UPAR
(906) 396-9737
Source:
Jabachler
Added: Apr 7
Changed: Oct 27
Last Checked: Oct 27 at 4:17AM
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 Leeds Real Estate
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Investment Insights
Based on property information with market context.
This 5,000-square-foot flex property combines a finished 2,500-square-foot retail area with 2,500 square feet of heated storage. Large windows bring natural light into the front space, which also has air conditioning, a kitchen, a walk-in cooler, open floor area, and two restrooms. The rear includes high ceilings, double doors, walk-in freezer space, a prep room, and a private office with a half bath.
The 1.38-acre site has 487 feet of frontage on Carpenter Avenue (M-95) and two access points from M-95. A blacktopped, illuminated parking area and two pole signs are also on the property. Built in 1940, the building offers retail and storage functions within one property.
The 1.38-acre site has 487 feet of frontage on Carpenter Avenue (M-95) and two access points from M-95. A blacktopped, illuminated parking area and two pole signs are also on the property. Built in 1940, the building offers retail and storage functions within one property.
Key Highlights
- 5,000‑square‑foot building with 2,500 square feet of finished retail area and 2,500 square feet of heated storage
- 1.38‑acre site with 487 feet of frontage on Carpenter Avenue (M‑95)
- Two access points from M‑95
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,863
Cap Rate
8.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$597,260
$597.3K
Cap Rate 7%
$426,614
$426.6K
Cap Rate 9%
$331,811
$331.8K
Market Conditions
NOI Build-Up for 5,000 SF
Gross rent
$36.8K $7.35/SF
− Vacancy
−$1.6K −$0.32/SF
EGI
$35.1K $7.03/SF
− OpEx
−$5.3K −$1.05/SF
NOI
$29.9K $5.97/SF
Area
Dickinson County, MI
Vacancy
4.40%
Lease Rate
$7.35 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$597,260
Cap Rate 7%
$426,614
Cap Rate 9%
$331,811
Alternative Uses
Best Use
Retail
$644.4K
$563.9K – $751.8K
NOI $45,108 @ 7.0% cap · market cap 12.89%
Second Best
Warehouse
$426.6K
$373.3K – $497.7K
NOI $29,863 @ 7.0% cap · market cap 8.53%
Theoretical Best
Office A
$964.0K
$843.5K – $1.12M
NOI $67,478 @ 7.0% cap · market cap 19.28%
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
594
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49802, MI
6,197
Population
2,768
Households
2.2
Avg Household Size
46
Median Age
26%
College-Educated
96%
High-School Grad
7.9 sq mi
ZIP Area
784
Density / Sq Mi
$61,067
Median Household Income
$37,633
Median Earnings
$861
Median Rent
$109,300
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 - A customer-facing storefront is complemented by heated storage with double-door delivery access.
Where is this flex space located?
The property is located at 212 S Carpenter Kingsford, MI.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: 5,000‑square‑foot building with 2,500 square feet of finished retail area and 2,500 square feet of heated storage; 1.38‑acre site with 487 feet of frontage on Carpenter Avenue (M‑95); Two access points from M‑95
