Two-Level Office Flex
New
For Sale
$465,000
536 Oak Street, Ferrysburg, MI 49409
Commercial Sale, Ferrysburg, MI
Property Size6,186 SF
Lot Size0.21 Acres
Price / SF$75.39
Days on Market3
Property Features for 536 Oak Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
CC-Core Commerc
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Elementary school district
Grand Haven
Middle school district
Grand Haven
High school district
Grand Haven
Directions
M104 to Pine to 5th to Oak.
Standard status
Active
APN
70-03-16-254-004
Size
6,168 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
LOT 52 FERRY HEIGHTS SUB
Tax Annual Amount
7318
Legal Description
LOT 52 FERRY HEIGHTS SUB
Utilities
Utilities
Cable Available
Heating system
Forced Air
Amenities
kitchenette
shower
central air
Building Details
Year built
1955
Floors in Building
2
Number of units
1
Building materials
Wood Siding, Stone
Roof type
Composition, Rubber
Listing Agency:
Capstone Real Estate LLC
(616) 847-1031
Listed By:
David Ten Cate · License #6502325769
(616) 502-1155
Added: Sep 24
Last Checked: Sep 26 at 5:06AM
MLS# 26051029
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 flex property combines 4,440 square feet of warehouse area with 1,728 square feet of office space arranged across two levels. The warehouse has a 10-foot-high, 12-foot-wide overhead door, a kitchenette, a restroom, and daylight windows. Four private offices are split between the floors; the office area also includes a restroom with shower and central air.
Built in 1955, the property sits on a 0.21-acre lot and provides on-site parking. Access to US-31 connects the site with the Tri-Cities area.
Built in 1955, the property sits on a 0.21-acre lot and provides on-site parking. Access to US-31 connects the site with the Tri-Cities area.
Key Highlights
- 4,440 square feet of warehouse space and 1,728 square feet of office area
- Warehouse access through a 10' high by 12' wide overhead door
- Four private offices arranged across two levels
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
$22,059
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
4.74%
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%
$441,180
$441.2K
Cap Rate 7%
$315,129
$315.1K
Cap Rate 9%
$245,100
$245.1K
Market Conditions
NOI Build-Up for 6,168 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
$37.0K $6.00/SF
− Vacancy
−$3.1K −$0.50/SF
EGI
$33.9K $5.50/SF
− OpEx
−$11.9K −$1.93/SF
NOI
$22.1K $3.58/SF
Area
Ottawa County, MI
Vacancy
8.30%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
35.00%
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%
$441,180
Cap Rate 7%
$315,129
Cap Rate 9%
$245,100
Alternative Uses
Best Use
Warehouse
$1.48M
$1.30M – $1.73M
NOI $103,845 @ 7.0% cap · market cap 22.33%
Second Best
Industrial
$1.30M
$1.14M – $1.52M
NOI $91,022 @ 7.0% cap · market cap 19.57%
Theoretical Best
Multifamily LT 5
$76.70M
$67.11M – $89.48M
NOI $5,369,053 @ 7.0% cap · market cap 1,154.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
268
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49409, MI
180
Population
50
Households
3.6
Avg Household Size
33
Median Age
19%
College-Educated
100%
High-School Grad
0.1 sq mi
ZIP Area
1,800
Density / Sq Mi
$47,125
Median Earnings
$165,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Separate warehouse and private office areas support a range of commercial operations.
Where is this flex space located?
The property is located at 536 Oak Street Ferrysburg, MI.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: 4,440 square feet of warehouse space and 1,728 square feet of office area; Warehouse access through a 10' high by 12' wide overhead door; Four private offices arranged across two levels
