Commercial Land with Existing
New
For Sale
$375,000
5742 Peck Road, Croswell, MI 48422
Commercial-zoned parcel includes an existing building and fenced rear area.
Property Size3,742 SF
Days on Market4
Property Features for 5742 Peck Road
General Information
Standard status
Active
Size
3,742 SF
Property subtype
Commercial
Zoning
Commercial
Building Details
Building Size
3,742 SF
Year Built
9999
Listing Agency:
Epique Inc.
(810) 712-1568
Listed By:
Michael Rickerman · License #6506045489
Source:
Buyatthelake
Added: Aug 18
Changed: Aug 19
Last Checked: Aug 21 at 1:55PM
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 Epique Inc.
Investment Insights
Based on property information with market context.
This 3.16-acre commercial parcel includes a 3,700+ square-foot building requiring complete renovation. The front section measures 40 by 40 feet and contains 1,582 square feet with upper-level storage. A rear section measuring 40 by 54 feet provides 2,160 square feet and additional upper-level storage. The building is served by two garage doors: a 12-foot-high by 12-foot-wide front door and a 10-foot-high by 8-foot-wide side door.
The property is positioned at the intersection of Peck Road (M-90) and Wildcat Road in Croswell, Michigan. A fenced portion is located at the rear of the parcel. Commercial zoning applies to the property. Debris and miscellaneous items are present inside and outside the building, and the property requires caution during inspection.
The property is positioned at the intersection of Peck Road (M-90) and Wildcat Road in Croswell, Michigan. A fenced portion is located at the rear of the parcel. Commercial zoning applies to the property. Debris and miscellaneous items are present inside and outside the building, and the property requires caution during inspection.
Key Highlights
- 3.16 acres zoned Commercial
- 3,700+ Sq Ft building requiring complete renovation
- Located at Peck Road (M‑90) and Wildcat Road
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
$24,294
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
6.48%
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%
$485,880
$485.9K
Cap Rate 7%
$347,057
$347.1K
Cap Rate 9%
$269,933
$269.9K
Market Conditions
NOI Build-Up for 3,742 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
$30.1K $8.04/SF
− Vacancy
−$1.5K −$0.40/SF
EGI
$28.6K $7.64/SF
− OpEx
−$4.3K −$1.15/SF
NOI
$24.3K $6.49/SF
Area
Sanilac County, MI
Vacancy
5.00%
Lease Rate
$8.04 /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%
$485,880
Cap Rate 7%
$347,057
Cap Rate 9%
$269,933
Alternative Uses
Best Use
Warehouse
$347.1K
$303.7K – $404.9K
NOI $24,294 @ 7.0% cap · market cap 6.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$794.7K
$695.4K – $927.2K
NOI $55,631 @ 7.0% cap · market cap 14.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
11
Businesses Nearby
Explore this area
Business Placement
Demographics for 48422, MI
6,130
Population
2,875
Households
2.1
Avg Household Size
43
Median Age
14%
College-Educated
89%
High-School Grad
95.2 sq mi
ZIP Area
64
Density / Sq Mi
$57,078
Median Household Income
$33,312
Median Earnings
$807
Median Rent
$162,000
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?
Commercial land - Commercial-zoned parcel includes an existing building and fenced rear area.
Where is this commercial land located?
The property is located at 5742 Peck Road Croswell, MI.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 3.16 acres zoned Commercial; 3,700+ Sq Ft building requiring complete renovation; Located at Peck Road (M‑90) and Wildcat Road
