Renovated Flex
For Sale
$230,000
5782 James Drive, Stevensville, MI 49127
Clear-span steel construction supports manufacturing, studio, retail, and other commercial configurations.
Property Size1,584 SF
Days on Market42
Property Features for 5782 James Drive
General Information
Standard status
Active
Size
1,584 SF
Property subtype
Commercial
Additional Details
Clear Span
Yes
Taxes and HOA fees
Annual Taxes
$2,223
Building Details
Building Size
1,584 SF
Year Built
1969
Buildings
1
Stories
1
Units
1
Construction
steel frame
Listing Agency:
Vision Real Estate Lakeshore
(269) 921-1125
Listed By:
Paul J Dumke · License #6502372552
Source:
Erareardonrealty
Added: Jul 20
Changed: Aug 30
Last Checked: Aug 25 at 9:15AM
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 updated commercial building features clear-span interiors and steel-frame construction, providing a flexible base for multiple business applications. The property was rehabilitated for a robotics assembly operation and includes an overhead door measuring 8 feet high by 10 feet wide.
Paved Jory Lane runs alongside the parcel and terminates near the property. The building’s stated use potential includes light manufacturing, art studio, retail, and personal workshop applications. Located at 5782 James Drive in Stevensville, Michigan, the property combines a renovated structure with adaptable commercial functionality.
Paved Jory Lane runs alongside the parcel and terminates near the property. The building’s stated use potential includes light manufacturing, art studio, retail, and personal workshop applications. Located at 5782 James Drive in Stevensville, Michigan, the property combines a renovated structure with adaptable commercial functionality.
Key Highlights
- Recently renovated clear‑span steel‑frame building
- Rehabilitated for a robotics assembly business
- Overhead door measures 8 ft. high by 10 ft. wide
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
Property Profile
Current Use
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 - Clear-span steel construction supports manufacturing, studio, retail, and other commercial configurations.
Where is this flex space located?
The property is located at 5782 James Drive 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 building; Rehabilitated for a robotics assembly business; Overhead door measures 8 ft. high by 10 ft. wide
