Pole Building on Commercial
For Sale
$450,000
51774 Co 652 Rd, Mattawan, MI 49071
Commercially zoned 5-acre parcel featuring a pole building with 10- to 12-foot ceilings.
Property Size3,456 SF
Lot Size5.00 Acres
Price / SF$130.21
Days on Market128
Property Features for 51774 Co 652 Rd
General Information
Standard status
Active
Size
3,456 SF
Lot size
5.00 Acres
Property subtype
Industrial
Additional Details
Highway Access
Yes
Clear Height
12 ft
Amenities
3
Metal
1651320
Building Details
Year Built
1975
Listing Agency:
Evenboer Walton, REALTORS
(269) 207-1060
Listed By:
Bill Evenboer · License #6502128196
(269) 207-1060
Source:
Xome
Added: Apr 7
Changed: Aug 8
Last Checked: Aug 12 at 3:26AM
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 Evenboer Walton, REALTORS
Investment Insights
Based on property information with market context.
Located at 51774 Co Rd 652 Unit, Mattawan, MI 49071, this commercially zoned 5-acre parcel includes a 3,400-square-foot pole building with 10- to 12-foot ceilings. The property offers a straightforward warehouse-style structure suited to light industrial and storage uses consistent with its commercial zoning.
Access is supported by proximity to the I-94 Mattawan exit, reported as less than 1/2 mile away, placing the site within a growing commercial corridor.
The parcel may be combined with two other parcels to bring the total to 18.5 acres, with the possibility of adding another 1.5 acres for up to 20 acres total. This makes the site a practical option for buyers looking for scale beyond a single parcel while retaining access to the existing building configuration.
Access is supported by proximity to the I-94 Mattawan exit, reported as less than 1/2 mile away, placing the site within a growing commercial corridor.
The parcel may be combined with two other parcels to bring the total to 18.5 acres, with the possibility of adding another 1.5 acres for up to 20 acres total. This makes the site a practical option for buyers looking for scale beyond a single parcel while retaining access to the existing building configuration.
Key Highlights
- Commercially zoned 5‑acre parcel with a 3,400 SF pole building
- Pole building features 10- to 12‑foot ceilings
- Metal roof
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
$21,675
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
4.82%
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%
$433,500
$433.5K
Cap Rate 7%
$309,643
$309.6K
Cap Rate 9%
$240,833
$240.8K
Market Conditions
NOI Build-Up for 3,456 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
$26.1K $7.56/SF
− Vacancy
−$627 −$0.18/SF
EGI
$25.5K $7.38/SF
− OpEx
−$3.8K −$1.11/SF
NOI
$21.7K $6.27/SF
Area
Van Buren County, MI
Vacancy
2.40%
Lease Rate
$7.56 /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%
$433,500
Cap Rate 7%
$309,643
Cap Rate 9%
$240,833
Alternative Uses
Best Use
Warehouse
$309.6K
$270.9K – $361.3K
NOI $21,675 @ 7.0% cap · market cap 4.82%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$42.73M
$37.39M – $49.85M
NOI $2,991,299 @ 7.0% cap · market cap 664.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12 ft
Clear height
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
87
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49071, MI
10,748
Population
4,415
Households
2.4
Avg Household Size
40
Median Age
40%
College-Educated
97%
High-School Grad
29.4 sq mi
ZIP Area
366
Density / Sq Mi
$105,779
Median Household Income
$48,494
Median Earnings
$1,161
Median Rent
$261,900
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.
Similar Off Market Nearby
- Prairie View Storage — 51350 Co Rd 652, Mattawan, MI 49071
- Midway Self Storage & U-Haul Mattawan — 24560 Cole Ave, Mattawan, MI 49071
Frequently Asked Questions
What type of property is this?
Warehouse - Commercially zoned 5-acre parcel featuring a pole building with 10- to 12-foot ceilings.
Where is this warehouse located?
The property is located at 51774 Co 652 Rd Mattawan, MI.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Commercially zoned 5‑acre parcel with a 3,400 SF pole building; Pole building features 10- to 12‑foot ceilings; Metal roof
