Flint, MI Industrial
For Sale
Contact for pricing
2120 Kansas Avenue, Flint, MI 48506
Industrial property in Flint, MI, leased to White Cap.
Property Size12,300 SF
Price / SF$73.17
Days on Market101
Property Features for 2120 Kansas Avenue
General Information
Standard status
Active
Size
12,300 SF
Property subtype
Industrial
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$69,000
Building Details
Year Built
1962
Tenancy
Single
Listing Agency:
Sands Investment Group Austin
Listed By:
Austin Marsh · License #TX 734360
Source:
Crexi
Added: May 14
Changed: Aug 14
Last Checked: Aug 21 at 8:07AM
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 Sands Investment Group Austin
Investment Insights
Based on property information with market context.
Sands Investment Group is offering for sale an industrial property located in Flint, MI. The property is occupied by White Cap, which recently acquired Colony Hardware. Following the acquisition, this facility is the only White Cap location within a 30-mile radius and the sole White Cap in the Flint, MI market. The property provides a functional industrial space with existing rents leased to an industry-leading tenant. The building has a size of 12,300 square feet.
Key Highlights
- Leased to White Cap, an industry‑leading tenant.
- Only White Cap facility within 30 miles.
- Sole White Cap in the Flint, MI market.
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
$69,664
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
7.74%
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%
$1,393,280
$1.4M
Cap Rate 7%
$995,200
$995.2K
Cap Rate 9%
$774,044
$774.0K
Market Conditions
NOI Build-Up for 12,300 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
$110.7K $9.00/SF
− Vacancy
−$11.2K −$0.91/SF
EGI
$99.5K $8.09/SF
− OpEx
−$29.9K −$2.43/SF
NOI
$69.7K $5.66/SF
Area
Genesee County, MI
Vacancy
10.10%
Lease Rate
$9.00 /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%
$1,393,280
Cap Rate 7%
$995,200
Cap Rate 9%
$774,044
Alternative Uses
Best Use
Warehouse
$1.21M
$1.06M – $1.41M
NOI $84,591 @ 7.0% cap · market cap 9.40%
Second Best
Industrial
$995.2K
$870.8K – $1.16M
NOI $69,664 @ 7.0% cap · market cap 7.74%
Theoretical Best
Office A
$2.59M
$2.26M – $3.02M
NOI $181,177 @ 7.0% cap · market cap 20.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
500
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48506, MI
25,069
Population
11,114
Households
2.3
Avg Household Size
39
Median Age
9%
College-Educated
83%
High-School Grad
18.5 sq mi
ZIP Area
1,355
Density / Sq Mi
$44,416
Median Household Income
$31,740
Median Earnings
$897
Median Rent
$91,200
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Warehouse - Industrial property in Flint, MI, leased to White Cap.
Where is this warehouse located?
The property is located at 2120 Kansas Avenue Flint, MI.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Leased to White Cap, an industry‑leading tenant.; Only White Cap facility within 30 miles.; Sole White Cap in the Flint, MI market.
