Steel Flex Warehouse
For Sale
$209,900
2695 Hein Road, Muskegon, MI 49445
COMMERCIAL - Muskegon, MI
Property Size1,500 SF
Lot Size0.09 Acres
Price / SF$139.93
Days on Market95
Property Features for 2695 Hein Road
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Interior features
Broadband
Elementary school district
Reeths-Puffer
Middle school district
Reeths-Puffer
High school district
Reeths-Puffer
Standard status
Active
Size
1,500 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
DALTON TOWNSHIPSUITE SPACE 1 CONDOMINIUM UNIT J-103SEC 31 T11N R16W
Legal Description
DALTON TOWNSHIPSUITE SPACE 1 CONDOMINIUM UNIT J-103SEC 31 T11N R16W
Building Details
Year built
2025
Number of units
1
Listing Agency:
RE/MAX Lakeshore · RE/MAX International
(616) 935-1150
Listed By:
Sandi L Gentry · License #6506045021
(616) 638-3900
Added: May 19
Changed: Aug 4
Last Checked: Aug 21 at 11:06AM
MLS# 26023358
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This for-sale steel flex/warehouse unit is 25 by 60 with a fully finished interior. The space features 6-inch concrete floors, 18-foot ceilings with lighting and a ceiling fan, and a 14 by 14 overhead door for straightforward loading access. A full bath is included, along with 3-phase power and city water and sewer. Heating and cooling are supported by two mini-split systems. Fast fiber internet is also noted for modern business connectivity.
The unit is part of a professionally maintained association with dues of $75 per month, covering snow removal and common area upkeep. The property is located just minutes from Highway 31, supporting convenient regional access for daily operations.
Designed for flexibility, the finished interior and overhead door make the unit workable for a range of uses, including storage and business space. With the combination of finished amenities, service utilities, and loading capability, it can suit tenants or buyers seeking a clean, move-in-ready option for operating on-site or running a company headquarters from within the same footprint.
The unit is part of a professionally maintained association with dues of $75 per month, covering snow removal and common area upkeep. The property is located just minutes from Highway 31, supporting convenient regional access for daily operations.
Designed for flexibility, the finished interior and overhead door make the unit workable for a range of uses, including storage and business space. With the combination of finished amenities, service utilities, and loading capability, it can suit tenants or buyers seeking a clean, move-in-ready option for operating on-site or running a company headquarters from within the same footprint.
Key Highlights
- Fully finished interior suitable for business or personal use.
- Durable construction with 6'' concrete floors and 18' ceilings.
- 14 x 14 overhead door and 3‑phase power** for operational versatility.
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
$17,471
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
8.32%
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%
$349,420
$349.4K
Cap Rate 7%
$249,586
$249.6K
Cap Rate 9%
$194,122
$194.1K
Market Conditions
NOI Build-Up for 1,500 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
$21.1K $14.04/SF
− Vacancy
−$505 −$0.34/SF
EGI
$20.6K $13.70/SF
− OpEx
−$3.1K −$2.06/SF
NOI
$17.5K $11.65/SF
Area
Muskegon County, MI
Vacancy
2.40%
Lease Rate
$14.04 /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%
$349,420
Cap Rate 7%
$249,586
Cap Rate 9%
$194,122
Alternative Uses
Best Use
Warehouse
$249.6K
$218.4K – $291.2K
NOI $17,471 @ 7.0% cap · market cap 8.32%
Second Best
Industrial
$205.5K
$179.9K – $239.8K
NOI $14,388 @ 7.0% cap · market cap 6.85%
Theoretical Best
Hotel Hospitality
$14.09M
$12.33M – $16.43M
NOI $986,059 @ 7.0% cap · market cap 469.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18 ft
Clear height
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
55
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49445, MI
21,245
Population
9,109
Households
2.3
Avg Household Size
43
Median Age
29%
College-Educated
96%
High-School Grad
61.1 sq mi
ZIP Area
348
Density / Sq Mi
$80,514
Median Household Income
$45,874
Median Earnings
$1,163
Median Rent
$209,800
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 - Immaculate steel unit with finished interior, 18' ceilings, and an overhead door for versatile operational use.
Where is this flex space located?
The property is located at 2695 Hein Road Muskegon, MI.
What is the asking price?
The asking price for this property is $209,900.
What are key features of this property?
This property features: Fully finished interior suitable for business or personal use.; Durable construction with **6'' concrete floors and 18' ceilings.**; 14 x 14 overhead door and 3‑phase power** for operational versatility.
