Flex Industrial Property with 14-Foot
For Sale
Contact for pricing
401 Kent Ct, Midland, MI 48642
6,000 SF flex building with office-ready ground floor, tall-shop ceilings, five 14' overhead doors, plus cold storage.
Property Size8,560 SF
Price / SF$64.25
Days on Market163
Property Features for 401 Kent Ct
General Information
Standard status
Active
Size
8,560 SF
Property subtype
Industrial, Retail
Zoning
RC, Regional Commercial
Additional Details
Heavy Power
Yes
Building Details
Year Built
1969
Buildings
2
Stories
2
Listing Agency:
Northern Oak CRE LLC
Listed By:
Jonathan Norton · License #MI 6502432709
Source:
Crexi
Added: Mar 30
Changed: Aug 27
Last Checked: Sep 7 at 12:05AM
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 Northern Oak CRE LLC
Investment Insights
Based on property information with market context.
Located in Midland, MI, this well-maintained flex industrial property combines a finished office component with a functional shop for commercial and industrial operations. The main 6,000 SF building includes a ground-level office space described as clean and move-in ready, along with a spacious shop area with tall ceilings. Five 14-foot overhead doors provide direct access, and the shop is equipped with an in-floor drain, above-ground vehicle hoist, heavy-duty air compressor, and 3-phase power. Additional storage is available on two levels, and there is a dedicated second-floor classroom wing that can support training, administration, or expansion.
At the rear of the property, a 2,580 SF cold storage pole barn features a drive-thru design with 10-foot tall doors, adding specialized storage capability. The site includes two large paved parking areas and additional excess land, offering flexibility for future development or outdoor use.
A recently inspected roof is reported to be in good condition, supporting immediate usability alongside long-term peace of mind.
At the rear of the property, a 2,580 SF cold storage pole barn features a drive-thru design with 10-foot tall doors, adding specialized storage capability. The site includes two large paved parking areas and additional excess land, offering flexibility for future development or outdoor use.
A recently inspected roof is reported to be in good condition, supporting immediate usability alongside long-term peace of mind.
Key Highlights
- 6,000 SF flex industrial building with office‑ready ground floor and additional storage on two levels
- Spacious shop area with tall ceilings and five 14‑foot overhead doors for easy loading and operations
- In‑floor drain, above‑ground vehicle hoist, heavy‑duty air compressor, and 3‑phase power included
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
$48,720
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
8.86%
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%
$974,400
$974.4K
Cap Rate 7%
$696,000
$696.0K
Cap Rate 9%
$541,333
$541.3K
Market Conditions
NOI Build-Up for 8,560 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
$61.6K $7.20/SF
− Vacancy
−$4.3K −$0.50/SF
EGI
$57.3K $6.70/SF
− OpEx
−$8.6K −$1.00/SF
NOI
$48.7K $5.69/SF
Area
Midland County, MI
Vacancy
7.00%
Lease Rate
$7.20 /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%
$974,400
Cap Rate 7%
$696,000
Cap Rate 9%
$541,333
Alternative Uses
Best Use
Flex RnD
$1.55M
$1.35M – $1.80M
NOI $108,151 @ 7.0% cap · market cap 19.66%
Second Best
Office B
$1.15M
$1.01M – $1.34M
NOI $80,430 @ 7.0% cap · market cap 14.62%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
143
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48642, MI
33,457
Population
14,663
Households
2.3
Avg Household Size
40
Median Age
42%
College-Educated
96%
High-School Grad
104.7 sq mi
ZIP Area
320
Density / Sq Mi
$77,690
Median Household Income
$48,407
Median Earnings
$1,100
Median Rent
$194,100
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?
Flex space - 6,000 SF flex building with office-ready ground floor, tall-shop ceilings, five 14' overhead doors, plus cold storage.
Where is this flex space located?
The property is located at 401 Kent Ct Midland, MI.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 6,000 SF flex industrial building with office‑ready ground floor and additional storage on two levels; Spacious shop area with tall ceilings and five 14‑foot overhead doors for easy loading and operations; In‑floor drain, above‑ground vehicle hoist, heavy‑duty air compressor, and 3‑phase power included
