Listing Agency: Epique Inc. m***@epique.me Show Phone

Listed By: Michael Rickerman Show Phone

Added: Apr 28 Changed: Oct 8 Last Checked: Oct 22 at 3:06AM

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MLS# 50205644

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Investment Insights

Based on property information with market context.

This flex-space property includes a 3.16-acre parcel and a 3,742-square-foot building arranged in front and rear sections. The front section measures 40 by 40 feet and contains 1,582 square feet with upper-level storage. The rear section measures 40 by 54 feet, provides 2,160 square feet, and also includes upper-level storage. The building requires complete renovation, and debris and miscellaneous items are present inside and outside.

A fenced portion occupies the rear of the property. Two garage doors support building access: 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, identified as M-90, and Wildcat Road, with a private water source serving the site.

Key Highlights

• 3.16‑acre flex‑space property with a 3,742‑square‑foot building
• Building includes 1,582 SF front section and 2,160 SF rear section
• Fenced rear portion of the property

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$20,007

Cap Rate

5.34%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$400,140 $400.1K

Cap Rate 7%

$285,814 $285.8K

Cap Rate 9%

$222,300 $222.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,742 SF

Gross rent

$30.1K $8.04/SF

− Vacancy

−$1.5K −$0.40/SF

EGI

$28.6K $7.64/SF

− OpEx

−$8.6K −$2.29/SF

NOI

$20.0K $5.35/SF

Area

Sanilac County, MI

Vacancy

5.00%

Lease Rate

$8.04 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$400,140

Cap Rate 7%

$285,814

Cap Rate 9%

$222,300

Alternative Uses

Best Use

Flex RnD

$575.4K

$503.5K – $671.3K (±1% cap)

NOI $40,279 @ 7.0% cap · market cap 10.74%

Second Best

Industrial

$285.8K

$250.1K – $333.5K (±1% cap)

NOI $20,007 @ 7.0% cap · market cap 5.34%

Theoretical Best

Office A

$794.7K

$695.4K – $927.2K (±1% cap)

NOI $55,631 @ 7.0% cap · market cap 14.83%

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

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

Flex space

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Auto Repair Shop Storage Facility Wine and Liquor Store Restaurant Nursing Home

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

2

Drive-in doors

Yes

Fenced yard

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

11

Businesses Nearby

Well-served

Demand for This Use

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

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Flex property with enclosed rear yard, overhead doors, storage areas, and access from two intersecting roads.

Where is this flex space 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‑acre flex‑space property with a 3,742‑square‑foot building; Building includes 1,582 SF front section and 2,160 SF rear section; Fenced rear portion of the property