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    Industrial Building with Fenced Yard Title is generated by Realmo AI

    5742 Peck Road, Croswell, MI 48422

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    For Sale
    $375,000

    COMMERCIAL - Croswell, MI

    Property size:
    3,742 SF
    Lot size:
    3.16 Acres
    Price / SF:
    $100/SF
    Added:
    Apr 28, 2026
    Days on Market:
    40
    Last Refresh:
    Jun 6 at 1:06 am

    Property Features for 5742 Peck Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    150-033-100-010-00
    Size
    3,742 SF
    Lot size
    3.16 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    2640

    Utilities

    Water source
    Private

    We can help!

    Listing Contact
    Michael Rickerman
    Michael Rickerman

    Listing agent Michael Rickerman License #6506045489

    Listing office Epique Inc. 411 S Main Street, Houston, MI

    Listing date Apr 28, 2026

    MLS# 50205644

    Copyright © 2026 Multiple Listing Service MiRealSource. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 3.16‑acre commercial property on the corner of Peck Road (M‑90) and Wildcat Road for high‑traffic intersection visibility
    • 3,700+ SF building with two sections: 1,582 SF (40x40) and 2,160 SF (40x54)
    • Upper level storage included in both front and rear portions of the building
    • Two garage doors: 12'H x 12'W front door and 10'H x 8'W side door
    • Fenced rear portion of the property provides a defined outdoor area
    • Property has a private water source; building requires complete renovation and caution is advised due to debris

    Overview

    This property includes a 3,700+ square foot industrial building on 3.16 acres, with a fenced rear portion. The building is split into two main sections, with the front portion measuring 40x40 and the rear portion measuring 40x54, and both include upper-level storage. Access is provided by two garage doors: a 12'H x 12'W front door and a 10'H x 8'W side door. The building requires a complete renovation, and use of the property should be exercised carefully due to debris and miscellaneous items located inside and outside.

    Located in Croswell, Michigan at the intersection of Peck Road (M-90) and Wildcat Road, the site is positioned for strong street visibility from two heavily traveled roads. The overall configuration supports separate front and rear building areas, with the fenced rear adding definition for outdoor storage and staging needs.

    For buyers and operators, this is a workable industrial renovation project for business uses that can accommodate a two-section warehouse layout and upper-level storage. The combination of multiple roll-up doors and a fenced rear area may support logistics, light industrial operations, or other warehouse-style requirements where controlled outdoor storage is useful, subject to final design and permitting based on the intended use.

    Local Financial Insights For Warehouse

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $30.1k $8.04
    − Vacancy −$1.5k −$0.40
    EGI $28.6k $7.64
    − OpEx −$4.3k −$1.15
    NOI $24.3k $6.49
    3,742 SF · lease $8.04/SF/yr · vacancy 5.00% · expense 15.00%

    Alternative Uses

    Best Use
    Warehouse
    $347.1K
    $303.7K – $404.9K (±1% cap)
    NOI $24,294 @ 7.0% cap · market cap 6.48%
    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 local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Auto Repair Shop Gym & Fitness Center Storage Facility (Bike/Boat/Book/etc) Store Wine and Liquor Store Nursing Home (Bike/Boat/Book/etc) Store Nursing Home

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Croswell
    County
    Sanilac
    State
    Michigan
    Longitude
    -82.590643
    Latitude
    43.265593

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    FAQs

    What type of property is this?
    Commercial land - Industrial building on a highly visible corner lot with fenced rear storage and multiple garage doors.
    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‑acre commercial property on the corner of Peck Road (M‑90) and Wildcat Road for high‑traffic intersection visibility; 3,700+ SF building with two sections: 1,582 SF (40x40) and 2,160 SF (40x54); Upper level storage included in both front and rear portions of the building
    (810) 712-1568
    We can help!
    Listing Contact
    Michael Rickerman
    Michael Rickerman
    Real Estate License ID: 6506045489
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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