Building Details

Buildings 1

Listing Agency: ERA Reardon - Brooklyn Show Phone

Listed By: TIMOTHY L JACOBS Show Phone

Source: Exprealty

Added: Sep 15 Changed: Sep 19 Last Checked: Sep 22 at 7:48PM

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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 ERA Reardon - Brooklyn

Investment Insights

Based on property information with market context.

This warehouse property includes a newer 24-by-30-foot barn with 12-foot interior height. The building has two overhead doors and a separate service door, providing multiple entry points for storage or warehouse use.

The property is located at 2881 Wetherby Rd in Clarklake, just off US 127 for convenient regional access.

Key Highlights

• 24 X 30 Barn
• 12‑foot height
• 2 overhead doors

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

$6,074

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

8.10%

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%

$121,480 $121.5K

Cap Rate 7%

$86,771 $86.8K

Cap Rate 9%

$67,489 $67.5K

Market Conditions

NOI Build-Up for 720 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

$7.9K $11.04/SF

− Vacancy

−$803 −$1.12/SF

EGI

$7.1K $9.92/SF

− OpEx

−$1.1K −$1.49/SF

NOI

$6.1K $8.44/SF

Area

Jackson County, MI

Vacancy

10.10%

Lease Rate

$11.04 /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%

$121,480

Cap Rate 7%

$86,771

Cap Rate 9%

$67,489

Alternative Uses

Best Use

Warehouse

$86.8K

$75.9K – $101.2K (±1% cap)

NOI $6,074 @ 7.0% cap · market cap 8.10%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$114.9K

$100.6K – $134.1K (±1% cap)

NOI $8,046 @ 7.0% cap · market cap 10.73%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Warehouses

Suggested Use

Top Pick Parking Lot & Garage Plumbing Service Furniture & Home Goods Garden Center Storage Facility Carpet & Flooring Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

12 ft

Clear height

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

44

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 49234, MI

2,580

Population

1,234

Households

2.1

Avg Household Size

52

Median Age

35%

College-Educated

97%

High-School Grad

21.3 sq mi

ZIP Area

121

Density / Sq Mi

$113,333

Median Household Income

$54,356

Median Earnings

$1,166

Median Rent

$280,800

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this warehouses located? What is the asking price? Find similar properties What are key features of this property?

Similar Off Market Nearby

• Citizen Storage — 9416 S Meridian Rd, Clarklake, MI 49234

Frequently Asked Questions

What type of property is this?

Warehouse - Standalone storage building with multiple access points near US 127.

Where is this warehouse located?

The property is located at 2881 Wetherby Rd Clarklake, MI.

What is the asking price?

The asking price for this property is $75,000.

What are key features of this property?

This property features: 24 X 30 Barn; 12‑foot height; 2 overhead doors