Industrial Property with Truck
For Sale
Contact for pricing
2751 N Water St, Bay City, MI 48706
Industrial-zoned property includes a dedicated shop and truck port.
Property Size7,500 SF
Lot Size3.30 Acres
Price / SF$70
Days on Market16
Property Features for 2751 N Water St
General Information
Standard status
Active
Size
7,500 SF
Lot size
3.30 Acres
Property subtype
Industrial
Zoning
Industrial
Listing Agency:
Henry Johnson Real Estate
Listed By:
Henry Johnson · License #MI 6502112983
Source:
Crexi
Added: Aug 20
Changed: Sep 4
Last Checked: Sep 1 at 1:13AM
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 Henry Johnson Real Estate
Investment Insights
Based on property information with market context.
Located at 2751 N Water St in Bay City, this Industrial-zoned property occupies 3.3 acres and includes a 7,500-square-foot industrial shop. A separate 5,000-square-foot truck port adds covered space for truck-related operations and equipment. The combination of enclosed industrial workspace and dedicated truck-port area creates a straightforward configuration for industrial use.
Key Highlights
- 7,500‑square‑foot industrial shop
- 5,000‑square‑foot truck port
- 3.3‑acre industrial property
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
$45,982
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
8.76%
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%
$919,640
$919.6K
Cap Rate 7%
$656,886
$656.9K
Cap Rate 9%
$510,911
$510.9K
Market Conditions
NOI Build-Up for 7,500 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
$57.3K $7.64/SF
− Vacancy
−$3.2K −$0.43/SF
EGI
$54.1K $7.21/SF
− OpEx
−$8.1K −$1.08/SF
NOI
$46.0K $6.13/SF
Area
Bay County, MI
Vacancy
5.59%
Lease Rate
$7.64 /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%
$919,640
Cap Rate 7%
$656,886
Cap Rate 9%
$510,911
Alternative Uses
Best Use
Warehouse
$656.9K
$574.8K – $766.4K
NOI $45,982 @ 7.0% cap · market cap 8.76%
Second Best
Industrial
$541.0K
$473.4K – $631.1K
NOI $37,868 @ 7.0% cap · market cap 7.21%
Theoretical Best
Office A
$1.36M
$1.19M – $1.58M
NOI $95,040 @ 7.0% cap · market cap 18.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
135
Businesses Nearby
Explore this area
Business Placement
Demographics for 48706, MI
39,381
Population
18,163
Households
2.2
Avg Household Size
45
Median Age
24%
College-Educated
93%
High-School Grad
66.3 sq mi
ZIP Area
594
Density / Sq Mi
$61,908
Median Household Income
$40,151
Median Earnings
$887
Median Rent
$142,300
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Industrial property - Industrial-zoned property includes a dedicated shop and truck port.
Where is this industrial property located?
The property is located at 2751 N Water St Bay City, MI.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 7,500‑square‑foot industrial shop; 5,000‑square‑foot truck port; 3.3‑acre industrial property
