Flex Industrial Building with New Garage
For Sale
$265,000
Pending
5482 Miller Rd, Swartz Creek, MI 48473
Nearly brand-new flex/industrial building with updated roof, vinyl siding, bathroom, office area, and modern garage doors.
Property Size1,963 SF
Days on Market133
Property Features for 5482 Miller Rd
General Information
Standard status
Pending
Size
1,963 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$2,988
Building Details
Building Size
1,963 SF
Year Built
1950
Listing Agency:
The Brokerage Real Estate Enthusiasts
Listed By:
Nykole Pfaff · License #6501377378
(810) 875-3908
Source:
Elliman
Added: Apr 28
Changed: Aug 22
Last Checked: Sep 7 at 8:52AM
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 The Brokerage Real Estate Enthusiasts
Investment Insights
Based on property information with market context.
This nearly brand-new flex/industrial building offers an updated interior and a modern exterior. Constructed of solid block and described as exceptionally well insulated, the building is designed to help maintain comfortable temperatures year-round with energy-efficient heating and cooling. Exterior improvements include a new roof and new vinyl siding, along with modern garage doors. The interior layout includes a dedicated office area and a bathroom to support day-to-day business use.
Located at 5482 Miller Rd in Swartz Creek, the property sits on a high-traffic main road with strong visibility and accessibility. It is positioned just minutes from I-69 and I-75, supporting convenient access for employees, customers, and deliveries. The building is also right next door to GM.
For sale and positioned as move-in-ready, this updated structure is presented as a clean, functional space for operating a business with straightforward on-site office and restroom support.
Located at 5482 Miller Rd in Swartz Creek, the property sits on a high-traffic main road with strong visibility and accessibility. It is positioned just minutes from I-69 and I-75, supporting convenient access for employees, customers, and deliveries. The building is also right next door to GM.
For sale and positioned as move-in-ready, this updated structure is presented as a clean, functional space for operating a business with straightforward on-site office and restroom support.
Key Highlights
- 1950‑built commercial flex/industrial building updated with a new roof, new vinyl siding, and modern garage doors
- Solid block construction with strong insulation to help maintain comfortable temperatures and support energy efficiency
- Interior includes a bathroom and a dedicated office area for flexible business use
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
$11,118
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
4.20%
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%
$222,360
$222.4K
Cap Rate 7%
$158,829
$158.8K
Cap Rate 9%
$123,533
$123.5K
Market Conditions
NOI Build-Up for 1,963 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
$17.7K $9.00/SF
− Vacancy
−$1.8K −$0.91/SF
EGI
$15.9K $8.09/SF
− OpEx
−$4.8K −$2.43/SF
NOI
$11.1K $5.66/SF
Area
Genesee County, MI
Vacancy
10.10%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
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%
$222,360
Cap Rate 7%
$158,829
Cap Rate 9%
$123,533
Alternative Uses
Best Use
Industrial
$158.8K
$139.0K – $185.3K
NOI $11,118 @ 7.0% cap · market cap 4.20%
Second Best
Flex RnD
$157.3K
$137.7K – $183.5K
NOI $11,012 @ 7.0% cap · market cap 4.16%
Theoretical Best
Office A
$413.1K
$361.4K – $481.9K
NOI $28,915 @ 7.0% cap · market cap 10.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
234
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48473, MI
22,035
Population
9,853
Households
2.2
Avg Household Size
45
Median Age
25%
College-Educated
95%
High-School Grad
56.2 sq mi
ZIP Area
392
Density / Sq Mi
$76,765
Median Household Income
$40,908
Median Earnings
$1,092
Median Rent
$191,700
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 - Nearly brand-new flex/industrial building with updated roof, vinyl siding, bathroom, office area, and modern garage doors.
Where is this flex space located?
The property is located at 5482 Miller Rd Swartz Creek, MI.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: 1950‑built commercial flex/industrial building updated with a new roof, new vinyl siding, and modern garage doors; Solid block construction with strong insulation to help maintain comfortable temperatures and support energy efficiency; Interior includes a bathroom and a dedicated office area for flexible business use
