Versatile Commercial/Industrial Property on
For Sale
$1,175,000
3090 W Cook Road, Grand Blanc, MI 48439
Commercial/industrial property with frontage on US-23, multiple buildings, parking.
Property Size18,000 SF
Price / SF$65.28
Days on Market1200
Property Features for 3090 W Cook Road
General Information
Standard status
Active
Size
18,000 SF
Property subtype
Industrial
Amenities
Central Air
3
Concrete
Metal, Asphalt
407626486174396
Building Details
Year Built
1970
Listing Agency:
The Agency of Gateway
(810) 643-3430
Listed By:
Thomas Diegel · License #6501397878
(810) 513-4632
Source:
Xome
Added: May 23, 2023
Changed: Sep 3
Last Checked: Sep 2 at 1:31PM
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 The Agency of Gateway
Investment Insights
Based on property information with market context.
This commercial and industrial property offers 407 feet of frontage on US-23, situated just south of the Grand Blanc Rd exit. The property includes multiple buildings, featuring a newly renovated office building and substantial indoor space. There is also a large parking area. The property is suitable for a range of business operations. The current owner is relocating to a larger facility due to the expansion of their manufacturing division. Land contract terms are possible.
Key Highlights
- 407 feet of frontage on US‑23.
- Multiple buildings, including a newly renovated office building.
- Massive amounts of indoor 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
$101,947
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
8.68%
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%
$2,038,940
$2.0M
Cap Rate 7%
$1,456,386
$1.5M
Cap Rate 9%
$1,132,744
$1.1M
Market Conditions
NOI Build-Up for 18,000 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
$162.0K $9.00/SF
− Vacancy
−$16.4K −$0.91/SF
EGI
$145.6K $8.09/SF
− OpEx
−$43.7K −$2.43/SF
NOI
$101.9K $5.66/SF
Area
Genesee County, MI
Vacancy
10.10%
Lease Rate
$9.00 /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%
$2,038,940
Cap Rate 7%
$1,456,386
Cap Rate 9%
$1,132,744
Alternative Uses
Best Use
Office B
$2.83M
$2.48M – $3.30M
NOI $198,294 @ 7.0% cap · market cap 16.88%
Second Best
Industrial
$1.46M
$1.27M – $1.70M
NOI $101,947 @ 7.0% cap · market cap 8.68%
Theoretical Best
Office A
$3.79M
$3.31M – $4.42M
NOI $265,137 @ 7.0% cap · market cap 22.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
8
Businesses Nearby
Explore this area
Business Placement
Demographics for 48439, MI
51,719
Population
22,101
Households
2.3
Avg Household Size
41
Median Age
43%
College-Educated
96%
High-School Grad
54.5 sq mi
ZIP Area
949
Density / Sq Mi
$88,505
Median Household Income
$47,506
Median Earnings
$1,035
Median Rent
$250,800
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?
Industrial property - Commercial/industrial property with frontage on US-23, multiple buildings, parking.
Where is this industrial property located?
The property is located at 3090 W Cook Road Grand Blanc, MI.
What is the asking price?
The asking price for this property is $1,175,000.
What are key features of this property?
This property features: 407 feet of frontage on US‑23.; Multiple buildings, including a newly renovated office building.; Massive amounts of indoor space.
