Warehouse with Roll-Up
New
For Sale
$139,900
619 Twin Hills Drive, Watervliet, MI 49098
Pole barn warehouse provides substantial storage capacity with dedicated electrical service and utility connections available at the street.
Property Size1,500 SF
Price / SF$93.27
Days on Market4
Property Features for 619 Twin Hills Drive
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Land
Warehouse & Industrial
Clear Height
12 ft
Warehouse Space
1,500 SF
Power
200 amps
Additional Details
Utilities to Site
Yes
Building Details
Year Built
2019
Buildings
1
Building Size
1,500 SF
Construction
pole barn
Listing Agency:
Michigan Lake & Land LLC
(269) 422-1111
Listed By:
Tim O'Leary · License #6504362071
(269) 313-2330
Source:
Jimdehaan
Added: Sep 9
Changed: Sep 10
Last Checked: Sep 12 at 6:39AM
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 Michigan Lake & Land LLC
Investment Insights
Based on property information with market context.
This warehouse property includes a 50' x 30' pole barn built in 2019, offering enclosed storage with 12' ceilings and a 14' x 10' roll-up door. The building has 200 Amp electric service, supporting practical storage and warehouse use for boats, RVs, trailers, and other larger equipment.
Public water and sewer are available at the street, along with other utilities. The property is near Paw Paw Lake and within walking distance of surrounding amenities, providing convenient access for personal or equipment storage.
Public water and sewer are available at the street, along with other utilities. The property is near Paw Paw Lake and within walking distance of surrounding amenities, providing convenient access for personal or equipment storage.
Key Highlights
- 50' x 30' pole barn built in 2019
- 12' ceilings provide substantial vertical storage capacity
- 14' x 10' roll‑up door
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
$8,137
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
5.82%
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%
$162,740
$162.7K
Cap Rate 7%
$116,243
$116.2K
Cap Rate 9%
$90,411
$90.4K
Market Conditions
NOI Build-Up for 1,500 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
$10.4K $6.96/SF
− Vacancy
−$867 −$0.58/SF
EGI
$9.6K $6.38/SF
− OpEx
−$1.4K −$0.96/SF
NOI
$8.1K $5.42/SF
Area
Berrien County, MI
Vacancy
8.30%
Lease Rate
$6.96 /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%
$162,740
Cap Rate 7%
$116,243
Cap Rate 9%
$90,411
Alternative Uses
Best Use
Warehouse
$116.2K
$101.7K – $135.6K
NOI $8,137 @ 7.0% cap · market cap 5.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$315.6K
$276.2K – $368.3K
NOI $22,095 @ 7.0% cap · market cap 15.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
12 ft
Clear height
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
46
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49098, MI
5,739
Population
3,032
Households
1.9
Avg Household Size
44
Median Age
21%
College-Educated
88%
High-School Grad
32.6 sq mi
ZIP Area
176
Density / Sq Mi
$56,899
Median Household Income
$30,278
Median Earnings
$1,253
Median Rent
$150,500
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.
Similar Off Market Nearby
- J & J Self Storage — 154 W St Joseph St, Watervliet, MI 49098
- Blackwood Self Storage of Paw Paw Lake — 8298 Forest Beach Rd, Watervliet, MI 49098
Frequently Asked Questions
What type of property is this?
Warehouse - Pole barn warehouse provides substantial storage capacity with dedicated electrical service and utility connections available at the street.
Where is this warehouse located?
The property is located at 619 Twin Hills Drive Watervliet, MI.
What is the asking price?
The asking price for this property is $139,900.
What are key features of this property?
This property features: 50' x 30' pole barn built in 2019; 12' ceilings provide substantial vertical storage capacity; 14' x 10' roll‑up door
