Flex Industrial Block
2970 Cherryhill Drive Fort Gratiot, MI 48059
2970 Cherryhill Drive, Fort Gratiot, MI, 48059
$749,900
For Sale
$749,900
Versatile block building with three 13-foot bay doors, office/reception, two bathrooms, plus 2003 pole-barn auto shop.
Property Size3,200 SF
Price / SF$234.34
Days on Market128
Property Features for 2970 Cherryhill Drive
General Information
- Standard status
- Active
- Size
- 3,200 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1989
Listing agency
Epique Realty
(810) 305-3456
Listed by
Cory Shivers
(810) 305-3456
Source
Homesforsaleinmich
Added: Mar 17 Updated: Jul 22 at 4:48AM Checked: Jul 22 at 4:48AM
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 Epique Realty
Investment Insights
Based on property information with market context.
This versatile block building offers adaptable open space for a range of commercial uses. The layout includes a dedicated office area with reception space and two bathrooms, supported by three 13-foot bay doors for service, storage, or light industrial operations. The property was previously configured as two separate units and can be converted back for multi-tenant use or owner-user flexibility. Each side has separate HVAC systems, allowing independent climate control.
The interior was most recently operated as a gym, and the open configuration can support other uses such as fitness, service, warehouse, or contractor-related operations. Zoning is listed as Miscellaneous Commercial Services.
Also included is a 2,400-square-foot pole barn working auto shop built in 2003. The listing notes that equipment, tools, inventory, and car hoists are not included, but may be negotiable. See Parcell ID# 74-20-015-1008-500 for legal description.
The interior was most recently operated as a gym, and the open configuration can support other uses such as fitness, service, warehouse, or contractor-related operations. Zoning is listed as Miscellaneous Commercial Services.
Also included is a 2,400-square-foot pole barn working auto shop built in 2003. The listing notes that equipment, tools, inventory, and car hoists are not included, but may be negotiable. See Parcell ID# 74-20-015-1008-500 for legal description.
Key Highlights
- 3,200 SF block commercial building built in 1989 with three 13‑ft bay doors for service, storage, or light industrial use
- Includes office/reception space and two bathrooms, providing separation for staff and customer functions
- Previously configured as two separate units and can be converted back for multi‑tenant or owner‑user flexibility
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $60.7k | $18.96 |
| − Vacancy | −$1.6k | −$0.49 |
| EGI | $59.1k | $18.47 |
| − OpEx | −$17.7k | −$5.54 |
| NOI | $41.4k | $12.93 |
3,200 SF · lease $18.96/SF/yr · vacancy 2.60% · expense 30.00%
Alternative Uses
Best Use
Retail
$590.9K
$517.1K – $689.4K
NOI $41,366 @ 7.0% cap · market cap 5.52%
Second Best
Flex RnD
$553.8K
$484.6K – $646.1K
NOI $38,765 @ 7.0% cap · market cap 5.17%
Theoretical Best
Multifamily LT 5
$2.41M
$2.10M – $2.81M
NOI $168,396 @ 7.0% cap · market cap 22.46%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - Versatile block building with three 13-foot bay doors, office/reception, two bathrooms, plus 2003 pole-barn auto shop.
Where is this flex space located?
The property is located at 2970 Cherryhill Drive Fort Gratiot, MI.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: 3,200 SF block commercial building built in 1989 with three 13‑ft bay doors for service, storage, or light industrial use; Includes office/reception space and two bathrooms, providing separation for staff and customer functions; Previously configured as two separate units and can be converted back for multi‑tenant or owner‑user flexibility
