Light Industrial Warehouse For
For Sale
$299,999
24 Leonard Road, Battle Creek, MI 49037
Freestanding, newly constructed warehouse suitable for cannabis or industrial use.
Property Size1,619 SF
Lot Size4.41 Acres
Days on Market313
Property Features for 24 Leonard Road
General Information
Standard status
Active
Size
1,619 SF
Lot size
4.41 Acres
Property subtype
Commercial
Building Details
Building Size
1,619 SF
Year Built
1930
Listing Agency:
C3 CRE, LLC
Listed By:
Corbin Yaldoo · License #6502431997
(248) 220-1110
Source:
Elliman
Added: Nov 27, 2025
Changed: Sep 20
Last Checked: Oct 5 at 4:52PM
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 C3 CRE, LLC
Investment Insights
Based on property information with market context.
This newly constructed, freestanding light industrial warehouse is available for sale. Previously used as a cannabis processing facility with an active license, the property is suitable for cannabis processors or traditional light industrial users. The building features ceiling heights ranging from 16 to 9 feet and electrical service of 208 - 230/360 V. It includes a supply fan with a 2-speed belt drive/6-ton system with a 2-stage compressor. The property has one loading garage door, measuring 7-2 in height and 6-8 feet in width. The property is in excellent condition, offering ample on-site parking and convenient entry/exit access. This presents a significant opportunity in a market with limited newer industrial buildings for an owner/investor or user.
Key Highlights
- Newly constructed freestanding light industrial warehouse.
- Cannabis processing license in place, suitable for cannabis processors.
- 16‑9 feet ceiling heights.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,159
Cap Rate
4.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$243,180
$243.2K
Cap Rate 7%
$173,700
$173.7K
Cap Rate 9%
$135,100
$135.1K
Market Conditions
NOI Build-Up for 1,619 SF
Gross rent
$15.3K $9.48/SF
− Vacancy
−$1.0K −$0.64/SF
EGI
$14.3K $8.84/SF
− OpEx
−$2.1K −$1.33/SF
NOI
$12.2K $7.51/SF
Area
Calhoun County, MI
Vacancy
6.80%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$243,180
Cap Rate 7%
$173,700
Cap Rate 9%
$135,100
Alternative Uses
Best Use
Warehouse
$173.7K
$152.0K – $202.7K
NOI $12,159 @ 7.0% cap · market cap 4.05%
Second Best
Industrial
$143.0K
$125.2K – $166.9K
NOI $10,013 @ 7.0% cap · market cap 3.34%
Theoretical Best
Healthcare Medical
$19.21M
$16.80M – $22.41M
NOI $1,344,361 @ 7.0% cap · market cap 448.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
77
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49037, MI
21,427
Population
9,971
Households
2.1
Avg Household Size
37
Median Age
12%
College-Educated
88%
High-School Grad
19.3 sq mi
ZIP Area
1,110
Density / Sq Mi
$42,598
Median Household Income
$32,024
Median Earnings
$843
Median Rent
$90,600
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?
Warehouse - Freestanding, newly constructed warehouse suitable for cannabis or industrial use.
Where is this warehouse located?
The property is located at 24 Leonard Road Battle Creek, MI.
What is the asking price?
The asking price for this property is $299,999.
What are key features of this property?
This property features: Newly constructed freestanding light industrial warehouse.; Cannabis processing license in place, suitable for cannabis processors.; 16‑9 feet ceiling heights.
