Light-Industrial Flex
New
For Sale
$599,000
216 Hill, Capac, MI 48014
Office and shop areas provide a practical setup for industrial or commercial operations.
Property Size4,704 SF
Lot Size2.00 Acres
Price / SF$127.34
Days on Market4
Property Features for 216 Hill
General Information
Standard status
Active
Size
4,704 SF
Lot size
2.00 Acres
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Warehouse & Industrial
Office Build-Out
700 SF
Three-Phase Power
Yes
Taxes and HOA fees
Annual Taxes
$4,405
Listing Agency:
EXP Realty - Marysville
(810) 650-8057
Listed By:
Robert Walker · License #6505396716
(810) 650-8057
Source:
Exprealty
Added: Aug 27
Changed: Aug 29
Last Checked: Aug 29 at 11:14PM
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 EXP Realty - Marysville
Investment Insights
Based on property information with market context.
This 4,704-square-foot flex property combines approximately 700 square feet of air-conditioned office space with a shop area equipped with three-phase power and a high overhead door. City water and sewer serve the building, supporting a functional light-industrial configuration.
The property encompasses approximately 2 acres along a paved road at 216 Hill in Capac, Michigan, with access to I-69 approximately 1.5 miles away. Lots 8, 9, 10, and 11 are included, providing a sizable site for the existing improvements and future expansion or additional outbuildings as described in the property information.
The property encompasses approximately 2 acres along a paved road at 216 Hill in Capac, Michigan, with access to I-69 approximately 1.5 miles away. Lots 8, 9, 10, and 11 are included, providing a sizable site for the existing improvements and future expansion or additional outbuildings as described in the property information.
Key Highlights
- 4,704‑square‑foot flex property on approximately 2 acres
- Approximately 700 square feet of air‑conditioned office space
- Shop area with three‑phase power and a high overhead door
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
$33,467
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
5.59%
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%
$669,340
$669.3K
Cap Rate 7%
$478,100
$478.1K
Cap Rate 9%
$371,856
$371.9K
Market Conditions
NOI Build-Up for 4,704 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
$42.3K $9.00/SF
− Vacancy
−$3.0K −$0.63/SF
EGI
$39.4K $8.37/SF
− OpEx
−$5.9K −$1.26/SF
NOI
$33.5K $7.11/SF
Area
St. Clair County, MI
Vacancy
7.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
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%
$669,340
Cap Rate 7%
$478,100
Cap Rate 9%
$371,856
Alternative Uses
Best Use
Flex RnD
$814.1K
$712.3K – $949.8K
NOI $56,985 @ 7.0% cap · market cap 9.51%
Second Best
Warehouse
$478.1K
$418.3K – $557.8K
NOI $33,467 @ 7.0% cap · market cap 5.59%
Theoretical Best
Multifamily LT 5
$3.54M
$3.09M – $4.13M
NOI $247,542 @ 7.0% cap · market cap 41.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
57
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48014, MI
4,323
Population
1,763
Households
2.5
Avg Household Size
40
Median Age
10%
College-Educated
90%
High-School Grad
36.8 sq mi
ZIP Area
117
Density / Sq Mi
$70,341
Median Household Income
$42,244
Median Earnings
$827
Median Rent
$208,400
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Office and shop areas provide a practical setup for industrial or commercial operations.
Where is this flex space located?
The property is located at 216 Hill Capac, MI.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 4,704‑square‑foot flex property on approximately 2 acres; Approximately 700 square feet of air‑conditioned office space; Shop area with three‑phase power and a high overhead door
