Flex Space with High
For Sale
$197,200
5070 INDUSTRIAL PARK Drive, Montague, MI 49437
COMMERCIAL - Montague, MI
Property Size1,500 SF
Lot Size0.03 Acres
Price / SF$131.47
Days on Market425
Property Features for 5070 INDUSTRIAL PARK Drive
General Information
Property type
Commercial Sale
Property subtype
Retail
Property condition
Under Construction
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Interior features
Broadband
Elementary school district
Montague
Middle school district
Montague
High school district
Montague
Directions
Head north on US-31, take the Fruitvale Rd exit, turn east onto Fruitvale Rd, then turn north onto Industrial Park Dr.
Subdivision
Muskegon County - M
Standard status
Active
APN
21-515-000-0002-00
Size
1,500 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Description
Part of 5070 Industrial Park Drive Unit 2
Tax Annual Amount
5000
Legal Description
Part of 5070 Industrial Park Drive Unit 2
Utilities
Heating system
Forced Air
Amenities
top-tier security
Building Details
Floors in Building
1
Number of units
14
Listing Agency:
Beycome Brokerage Realty LLC
(804) 656-5007
Listed By:
Steven Koleno · License #3469487
(804) 656-5007
Added: Jun 23, 2025
Changed: Aug 4
Last Checked: Aug 21 at 7:06AM
MLS# 25031005
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 1,500-square-foot flex space is under construction and configured as a customizable garage condo. The unit provides 20-foot ceilings, a 14-foot overhead door, a 100-amp electrical panel, LED lighting, forced-air heating and cooling, water, sewer, and sprayed foam insulation. A mezzanine can be added for storage or workspace, subject to the available configuration.
The property is located at 5070 Industrial Park Drive in Montague, Michigan, within a secluded wooded setting and approximately 1 mile from the Montague boat launch. Broadband is available, and the space includes a bathroom. Its combination of utility connections, climate control, and adaptable interior volume supports storage, workshop, and other flex-space applications described for the property.
The property is located at 5070 Industrial Park Drive in Montague, Michigan, within a secluded wooded setting and approximately 1 mile from the Montague boat launch. Broadband is available, and the space includes a bathroom. Its combination of utility connections, climate control, and adaptable interior volume supports storage, workshop, and other flex-space applications described for the property.
Key Highlights
- 1,500 square feet with 20‑foot ceilings
- 14‑foot overhead door accommodates boats, RVs, trailers, and large equipment
- 100‑amp electrical panel, LED lighting, and full HVAC with heating and cooling
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
$17,471
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%
$349,420
$349.4K
Cap Rate 7%
$249,586
$249.6K
Cap Rate 9%
$194,122
$194.1K
Market Conditions
NOI Build-Up for 1,500 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
$21.1K $14.04/SF
− Vacancy
−$505 −$0.34/SF
EGI
$20.6K $13.70/SF
− OpEx
−$3.1K −$2.06/SF
NOI
$17.5K $11.65/SF
Area
Muskegon County, MI
Vacancy
2.40%
Lease Rate
$14.04 /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%
$349,420
Cap Rate 7%
$249,586
Cap Rate 9%
$194,122
Alternative Uses
Best Use
Warehouse
$249.6K
$218.4K – $291.2K
NOI $17,471 @ 7.0% cap · market cap 8.86%
Second Best
Industrial
$205.5K
$179.9K – $239.8K
NOI $14,388 @ 7.0% cap · market cap 7.30%
Theoretical Best
Hotel Hospitality
$14.09M
$12.33M – $16.43M
NOI $986,059 @ 7.0% cap · market cap 500.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20 ft
Clear height
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
55
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 49437, MI
6,928
Population
3,229
Households
2.1
Avg Household Size
45
Median Age
26%
College-Educated
96%
High-School Grad
65.6 sq mi
ZIP Area
106
Density / Sq Mi
$77,224
Median Household Income
$39,356
Median Earnings
$772
Median Rent
$201,100
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 - Customizable garage-style space with overhead access, HVAC, utilities, and electrical service for varied commercial or personal uses.
Where is this flex space located?
The property is located at 5070 INDUSTRIAL PARK Drive Montague, MI.
What is the asking price?
The asking price for this property is $197,200.
What are key features of this property?
This property features: 1,500 square feet with 20‑foot ceilings; 14‑foot overhead door accommodates boats, RVs, trailers, and large equipment; 100‑amp electrical panel, LED lighting, and full HVAC with heating and cooling
