Building Details

Buildings 1

Building Size 2,376 SF

Listing Agency: Chuck Jaqua, REALTOR Show Phone

Listed By: JoAnne Potts · License #6501248779 Show Phone

Source: Jimdehaan

Added: Oct 20 Changed: Oct 21 Last Checked: Oct 23 at 6:34AM

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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 Chuck Jaqua, REALTOR

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Investment Insights

Based on property information with market context.

This 44-by-54-foot warehouse has a heated front shop area measuring 31 by 54 feet, with hydronic floor heat supplied by a mini boiler. Three bays are served by two 12-by-12-foot doors and one 10-by-10-foot door. The 13-by-54-foot rear section spans the building’s length and has a 12-by-12-foot door; it has no concrete floor or heat. Water and sewer are connected, and a bathroom is plumbed. An additional lot is included and is identified as a possible building site.

Key Highlights

• 44‑by‑54‑foot warehouse with a 31‑by‑54‑foot heated front shop area
• Hydronic floor heat in the front shop, supplied by a mini boiler
• Three bays: two 12‑by‑12‑foot doors and one 10‑by‑10‑foot door

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$14,902

Cap Rate

6.34%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$298,040 $298.0K

Cap Rate 7%

$212,886 $212.9K

Cap Rate 9%

$165,578 $165.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,376 SF

Gross rent

$18.0K $7.56/SF

− Vacancy

−$431 −$0.18/SF

EGI

$17.5K $7.38/SF

− OpEx

−$2.6K −$1.11/SF

NOI

$14.9K $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 Rate 5%

$298,040

Cap Rate 7%

$212,886

Cap Rate 9%

$165,578

Alternative Uses

Best Use

Warehouse

$212.9K

$186.3K – $248.4K (±1% cap)

NOI $14,902 @ 7.0% cap · market cap 6.34%

Second Best

—

—

no second resolved use

Theoretical Best

Multifamily LT 5

$29.38M

$25.71M – $34.28M (±1% cap)

NOI $2,056,518 @ 7.0% cap · market cap 875.11%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Warehouses

Suggested Use

Top Pick Building Supply Storage Facility Garden Center Bakery Restaurant Hotel & Motel

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

13

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 49064, MI

3,854

Population

1,746

Households

2.2

Avg Household Size

41

Median Age

20%

College-Educated

80%

High-School Grad

48.1 sq mi

ZIP Area

80

Density / Sq Mi

$61,863

Median Household Income

$38,115

Median Earnings

$756

Median Rent

$163,400

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Similar For Sale Nearby

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Similar Off Market Nearby

• Blackwood Self Storage of Paw Paw - Lawrence — 45045 W Red Arrow Hwy, Paw Paw, MI 49079

Frequently Asked Questions

What type of property is this?

Warehouse - The front shop area has hydronic floor heat, while the rear section provides separate unfinished space.

Where is this warehouse located?

The property is located at 57320 46 1/2 Street Lawrence, MI.

What is the asking price?

The asking price for this property is $235,000.

What are key features of this property?

This property features: 44‑by‑54‑foot warehouse with a 31‑by‑54‑foot heated front shop area; Hydronic floor heat in the front shop, supplied by a mini boiler; Three bays: two 12‑by‑12‑foot doors and one 10‑by‑10‑foot door