Multi-Use Retail
For Sale
$320,000
6017 Pierson Road, Flushing, MI 48433
Flex-style retail warehouse with large overhead doors and 2 included outbuildings within a high-traffic industrial park.
Property Size2,972 SF
Price / SF$107.67
Days on Market176
Property Features for 6017 Pierson Road
General Information
Standard status
Active
Size
2,972 SF
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$10,351
Amenities
3
226X167X229X194
Listing Agency:
Wentworth Real Estate Group
(810) 923-4297
Listed By:
Andrew Belson · License #6501370141
(810) 923-4297
Source:
Xome
Added: Feb 25
Changed: Aug 19
Last Checked: Aug 20 at 4:38AM
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 Wentworth Real Estate Group
Investment Insights
Based on property information with market context.
This multi-use property combines retail and warehouse space, offered as a flex-style building with a total retail/warehouse area listed at 2,972 square feet. The site includes large overhead doors, supporting practical loading and storage needs, and features two large outbuildings included with the offering.
The property is located in a high-traffic industrial park, aligning it with tenants seeking visibility and convenient customer or vehicle access for mixed retail and light operational uses.
A triple net lease option is also noted as available, providing an additional structure to consider for qualified buyers or operators.
The property is located in a high-traffic industrial park, aligning it with tenants seeking visibility and convenient customer or vehicle access for mixed retail and light operational uses.
A triple net lease option is also noted as available, providing an additional structure to consider for qualified buyers or operators.
Key Highlights
- Flex‑style retail warehouse with 2,972 SF and large overhead doors
- Multi‑use setup with retail and warehouse space
- Includes 2 large outbuildings
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
$20,439
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
6.39%
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%
$408,780
$408.8K
Cap Rate 7%
$291,986
$292.0K
Cap Rate 9%
$227,100
$227.1K
Market Conditions
NOI Build-Up for 2,972 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
$26.7K $9.00/SF
− Vacancy
−$2.7K −$0.91/SF
EGI
$24.0K $8.09/SF
− OpEx
−$3.6K −$1.21/SF
NOI
$20.4K $6.88/SF
Area
Genesee County, MI
Vacancy
10.10%
Lease Rate
$9.00 /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%
$408,780
Cap Rate 7%
$291,986
Cap Rate 9%
$227,100
Alternative Uses
Best Use
Retail
$440.7K
$385.7K – $514.2K
NOI $30,852 @ 7.0% cap · market cap 9.64%
Second Best
Warehouse
$292.0K
$255.5K – $340.7K
NOI $20,439 @ 7.0% cap · market cap 6.39%
Theoretical Best
Office A
$625.4K
$547.2K – $729.6K
NOI $43,777 @ 7.0% cap · market cap 13.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
135
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 48433, MI
26,688
Population
10,597
Households
2.5
Avg Household Size
44
Median Age
29%
College-Educated
95%
High-School Grad
55.5 sq mi
ZIP Area
481
Density / Sq Mi
$81,301
Median Household Income
$45,126
Median Earnings
$982
Median Rent
$197,400
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flex-style retail warehouse with large overhead doors and 2 included outbuildings within a high-traffic industrial park.
Where is this flex space located?
The property is located at 6017 Pierson Road Flushing, MI.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: Flex‑style retail warehouse with 2,972 SF and large overhead doors; Multi‑use setup with retail and warehouse space; Includes 2 large outbuildings
