Clear-Span Flex Industrial
For Sale
$230,000
5782 JAMES DR, Stevensville, MI 49127
Recently renovated clear-span, steel-frame building with an 8-by-10 overhead door and paved road access alongside the parcel.
Property Size1,584 SF
Price / SF$145.20
Days on Market81
Property Features for 5782 JAMES DR
General Information
Standard status
Active
Size
1,584 SF
Property subtype
Industrial
Additional Details
Road Access
Yes
Amenities
3
113123
Building Details
Year Built
1969
Listing Agency:
(269) 921-1125
Listed By:
Vision Real Estate Lakeshore
Source:
Xome
Added: May 21
Changed: Aug 8
Last Checked: Aug 9 at 5:27AM
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 Vision Real Estate Lakeshore
Investment Insights
Based on property information with market context.
This recently renovated clear-span, steel-frame multi-use building is configured for flexible use, with numerous new features referenced in the rehab. The building measures 1,584 square feet and includes a single overhead door measuring 8 feet in height by 10 feet in width. The property has been rehabbed for a robotics assembly business, supporting light industrial and hands-on workspace needs.
The parcel sits alongside paved Jory Ln, which runs and ends alongside the property, providing straightforward access to the building.
Overall, the clear-span layout and dedicated overhead door make the space well-suited for light manufacturing, assembly-style work, or adaptable commercial uses that benefit from an open interior.
The parcel sits alongside paved Jory Ln, which runs and ends alongside the property, providing straightforward access to the building.
Overall, the clear-span layout and dedicated overhead door make the space well-suited for light manufacturing, assembly-style work, or adaptable commercial uses that benefit from an open interior.
Key Highlights
- Recently renovated clear‑span, steel‑frame multi‑use building (built in 1969)
- 8 ft by 10 ft overhead door provides access for equipment and vehicles
- Paved Jory Ln runs/ends alongside the parcel for direct paved road access
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
$7,931
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
3.45%
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%
$158,620
$158.6K
Cap Rate 7%
$113,300
$113.3K
Cap Rate 9%
$88,122
$88.1K
Market Conditions
NOI Build-Up for 1,584 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
$13.3K $8.40/SF
− Vacancy
−$1.1K −$0.70/SF
EGI
$12.2K $7.70/SF
− OpEx
−$4.3K −$2.70/SF
NOI
$7.9K $5.01/SF
Area
Berrien County, MI
Vacancy
8.30%
Lease Rate
$8.40 /SF/Yr
Expense Ratio
35.00%
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%
$158,620
Cap Rate 7%
$113,300
Cap Rate 9%
$88,122
Alternative Uses
Best Use
Flex RnD
$113.3K
$99.1K – $132.2K
NOI $7,931 @ 7.0% cap · market cap 3.45%
Second Best
Industrial
$101.1K
$88.5K – $118.0K
NOI $7,077 @ 7.0% cap · market cap 3.08%
Theoretical Best
Office A
$333.3K
$291.7K – $388.9K
NOI $23,332 @ 7.0% cap · market cap 10.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
213
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 49127, MI
10,811
Population
5,043
Households
2.1
Avg Household Size
45
Median Age
47%
College-Educated
98%
High-School Grad
17.1 sq mi
ZIP Area
632
Density / Sq Mi
$96,781
Median Household Income
$44,903
Median Earnings
$1,103
Median Rent
$287,000
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?
Flex space - Recently renovated clear-span, steel-frame building with an 8-by-10 overhead door and paved road access alongside the parcel.
Where is this flex space located?
The property is located at 5782 JAMES DR Stevensville, MI.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: Recently renovated clear‑span, steel‑frame multi‑use building (built in 1969); 8 ft by 10 ft overhead door provides access for equipment and vehicles; Paved Jory Ln runs/ends alongside the parcel for direct paved road access
