Flex Building With Grade-Level
For Sale
Contact for pricing
2585 28th Street Southwest, Wyoming, MI 49519
The building combines workshop, office, and showroom areas with direct grade-level access.
Property Size4,756 SF
Price / SF$189.23
Days on Market8
Property Features for 2585 28th Street Southwest
General Information
Standard status
Active
Size
4,756 SF
Property subtype
Retail
Lease Type
NNN
Site & Location
Pylon Signage
Yes
Road Access
Yes
Fenced Yard
Yes
Warehouse & Industrial
Office Build-Out
1,312 SF
Drive-In Doors
4
Amenities
4 grade level doors
fenced in rear yard
Building Details
Year Built
1959
Buildings
1
Building Size
4,756 SF
Listing Agency:
Bradley Company
Listed By:
Jordan Wenzel · License #6501452030APP23
Source:
Crexi
Added: Jul 30
Changed: Aug 4
Last Checked: Aug 5 at 2:57PM
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 Bradley Company
Investment Insights
Based on property information with market context.
This 4,756-square-foot flex building is configured for a combination of workshop, office, and showroom functions. The workshop area totals 3,444 square feet, while the office and showroom component adds 1,312 square feet. Four grade-level doors support convenient movement between the building and the exterior. A fenced rear yard and large pylon sign are also part of the property.
Built in 1959, the property is located at 2585 28th Street Southwest in Wyoming, Michigan. Its commercial configuration accommodates both operational and customer-facing space within one building, with the workshop and office/showroom areas clearly differentiated.
Built in 1959, the property is located at 2585 28th Street Southwest in Wyoming, Michigan. Its commercial configuration accommodates both operational and customer-facing space within one building, with the workshop and office/showroom areas clearly differentiated.
Key Highlights
- 4,756‑square‑foot flex building
- 3,444 square feet of workshop area
- 1,312 square feet of office/showroom space
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
$49,372
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
5.49%
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%
$987,440
$987.4K
Cap Rate 7%
$705,314
$705.3K
Cap Rate 9%
$548,578
$548.6K
Market Conditions
NOI Build-Up for 4,756 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
$73.6K $15.48/SF
− Vacancy
−$3.1K −$0.65/SF
EGI
$70.5K $14.83/SF
− OpEx
−$21.2K −$4.45/SF
NOI
$49.4K $10.38/SF
Area
Kent County, MI
Vacancy
4.20%
Lease Rate
$15.48 /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%
$987,440
Cap Rate 7%
$705,314
Cap Rate 9%
$548,578
Alternative Uses
Best Use
Retail
$705.3K
$617.2K – $822.9K
NOI $49,372 @ 7.0% cap · market cap 5.49%
Second Best
Office B
$678.9K
$594.0K – $792.0K
NOI $47,521 @ 7.0% cap · market cap 5.28%
Theoretical Best
Office A
$850.6K
$744.3K – $992.4K
NOI $59,545 @ 7.0% cap · market cap 6.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Drive-in doors
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
511
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49519, MI
28,025
Population
11,693
Households
2.4
Avg Household Size
34
Median Age
28%
College-Educated
90%
High-School Grad
8.0 sq mi
ZIP Area
3,503
Density / Sq Mi
$75,373
Median Household Income
$39,240
Median Earnings
$1,176
Median Rent
$220,300
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - The building combines workshop, office, and showroom areas with direct grade-level access.
Where is this flex space located?
The property is located at 2585 28th Street Southwest Wyoming, 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: 4,756‑square‑foot flex building; 3,444 square feet of workshop area; 1,312 square feet of office/showroom space
