Brick Flex Office/Warehouse
For Sale
$399,900
317 S Grand Street, Marshall, MI 49068
COMMERCIAL - Marshall, MI
Property Size3,640 SF
Lot Size0.56 Acres
Price / SF$109.86
Days on Market124
Property Features for 317 S Grand Street
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Interior features
Broadband
Elementary school district
Marshall
Middle school district
Marshall
High school district
Marshall
Directions
South of the circle on Kalamazoo to Spruce then East to Grand then North to property
Standard status
Active
APN
53-000-745-00
Size
3,640 SF
Lot size
0.56 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
LL@LO
Tax Annual Amount
5495
Legal Description
LL@LO
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1998
Floors in Building
1
Number of units
2
Building materials
Brick
Roof type
Composition
Listing Agency:
Berkshire Hathaway HomeServices Michigan Real Estate
(269) 789-0140
Listed By:
Brian Fazekas · License #6506047758
(269) 209-2286
Added: Apr 15
Changed: Aug 4
Last Checked: Aug 16 at 9:06PM
MLS# 26015495
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 brick commercial duplex offers a total of 3,640 square feet of flexible office/warehouse space, currently divided into two separate units. Each unit is approximately 1,800 square feet and includes 12-foot overhead doors and 14-foot ceilings. The building also features new furnaces and a separating firewall between the two units.
The property is located at 317 S Grand Street in Marshall, Michigan (Calhoun County). It is described as being in excellent condition and provides separate utilities for each unit.
The current layout supports either an owner-operator setup or multi-tenant occupancy, with independent unit separation and functional overhead door access suited to light warehouse and office use.
The property is located at 317 S Grand Street in Marshall, Michigan (Calhoun County). It is described as being in excellent condition and provides separate utilities for each unit.
The current layout supports either an owner-operator setup or multi-tenant occupancy, with independent unit separation and functional overhead door access suited to light warehouse and office use.
Key Highlights
- 3,640 sq ft of flexible office/warehouse space suitable for various business needs.
- Two separate units, each with approximately 1,800 sq ft, offering multi‑tenant or individual use options.
- Features 12' overhead doors and 14‑foot ceilings, ideal for warehouse or commercial operations.
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
$27,337
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
6.84%
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%
$546,740
$546.7K
Cap Rate 7%
$390,529
$390.5K
Cap Rate 9%
$303,744
$303.7K
Market Conditions
NOI Build-Up for 3,640 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
$34.5K $9.48/SF
− Vacancy
−$2.3K −$0.64/SF
EGI
$32.2K $8.84/SF
− OpEx
−$4.8K −$1.33/SF
NOI
$27.3K $7.51/SF
Area
Calhoun County, MI
Vacancy
6.80%
Lease Rate
$9.48 /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%
$546,740
Cap Rate 7%
$390,529
Cap Rate 9%
$303,744
Alternative Uses
Best Use
Flex RnD
$704.6K
$616.6K – $822.1K
NOI $49,325 @ 7.0% cap · market cap 12.33%
Second Best
Warehouse
$390.5K
$341.7K – $455.6K
NOI $27,337 @ 7.0% cap · market cap 6.84%
Theoretical Best
Healthcare Medical
$43.18M
$37.78M – $50.38M
NOI $3,022,529 @ 7.0% cap · market cap 755.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14 ft
Clear height
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
793
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49068, MI
14,325
Population
6,901
Households
2.1
Avg Household Size
45
Median Age
36%
College-Educated
96%
High-School Grad
129.9 sq mi
ZIP Area
110
Density / Sq Mi
$78,476
Median Household Income
$47,198
Median Earnings
$904
Median Rent
$196,800
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 - Brick commercial duplex totaling 3,640 SF includes two units with 12' overhead doors and separate utilities.
Where is this flex space located?
The property is located at 317 S Grand Street Marshall, MI.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: 3,640 sq ft of flexible office/warehouse space suitable for various business needs.; Two separate units, each with approximately 1,800 sq ft, offering multi‑tenant or individual use options.; Features **12' overhead doors and 14‑foot ceilings**, ideal for warehouse or commercial operations.
