Four-Suite Flex Space
For Sale
$699,000
4036 Oakes St SW, Grandville, MI 49418
Clear-span commercial space configured for multiple industrial occupants with overhead-door access.
Property Size7,680 SF
Price / SF$91.02
Days on Market35
Property Features for 4036 Oakes St SW
General Information
Standard status
Active
Size
7,680 SF
Property subtype
Industrial
Zoning
NW- North Wilson Formed Based Code District
Amenities
Power
Water
Sewer
Natural Gas
Building Details
Year Built
1959
Tenancy
Multiple Tenants
Listing Agency:
NAI Wisinski of West Michigan
(616) 450-2041
Listed By:
Kyle Kunst · License #6502343182
(616) 450-2041
Source:
Carwm.resimplifi
Added: Jul 28
Changed: Aug 30
Last Checked: Aug 30 at 10:41PM
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 NAI Wisinski of West Michigan
Investment Insights
Based on property information with market context.
This flex space property includes a 7,680-square-foot clear-span industrial building on 0.61 acres. The interior is arranged as four industrial suites, providing a multi-tenant configuration with practical separation between occupants. Four overhead doors measuring 12 feet by 12 feet support access for industrial operations and material handling.
Built in 1959, the property is located at 4036 Oakes St SW in Grandville, Michigan. Zoning is NW—North Wilson Formed Based Code District.
Built in 1959, the property is located at 4036 Oakes St SW in Grandville, Michigan. Zoning is NW—North Wilson Formed Based Code District.
Key Highlights
- 7,680 SF clear‑span industrial building
- 0.61‑acre property
- Four industrial suites in a multi‑tenant configuration
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
$43,610
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
6.24%
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%
$872,200
$872.2K
Cap Rate 7%
$623,000
$623.0K
Cap Rate 9%
$484,556
$484.6K
Market Conditions
NOI Build-Up for 7,680 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
$52.8K $6.88/SF
− Vacancy
−$1.5K −$0.20/SF
EGI
$51.3K $6.68/SF
− OpEx
−$7.7K −$1.00/SF
NOI
$43.6K $5.68/SF
Area
Kent County, MI
Vacancy
2.90%
Lease Rate
$6.88 /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%
$872,200
Cap Rate 7%
$623,000
Cap Rate 9%
$484,556
Alternative Uses
Best Use
Warehouse
$623.0K
$545.1K – $726.8K
NOI $43,610 @ 7.0% cap · market cap 6.24%
Second Best
Industrial
$513.1K
$448.9K – $598.6K
NOI $35,914 @ 7.0% cap · market cap 5.14%
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $96,153 @ 7.0% cap · market cap 13.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
983
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49418, MI
30,520
Population
12,801
Households
2.4
Avg Household Size
38
Median Age
40%
College-Educated
96%
High-School Grad
19.0 sq mi
ZIP Area
1,606
Density / Sq Mi
$83,485
Median Household Income
$48,260
Median Earnings
$1,218
Median Rent
$296,300
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Clear-span commercial space configured for multiple industrial occupants with overhead-door access.
Where is this flex space located?
The property is located at 4036 Oakes St SW Grandville, MI.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 7,680 SF clear‑span industrial building; 0.61‑acre property; Four industrial suites in a multi‑tenant configuration
