Standalone Manufacturing
For Sale
$149,900
6242 Lovers Lane, Portage, MI 49002
Commercial Sale, Portage, MI
Property Size1,066 SF
Lot Size0.36 Acres
Price / SF$140.62
Days on Market100
Property Features for 6242 Lovers Lane
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
I-1
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1, Basement
Elementary school district
Portage
Middle school district
Portage
High school district
Portage
Standard status
Active
APN
00010-040-O
Size
1,066 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
On file.
Tax Annual Amount
2915
Legal Description
On file.
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1929
Floors in Building
1
Number of units
1
Listing Agency:
NAI Wisinski of West Michigan
(269) 353-0311
Listed By:
Bailey Aivars · License #6501380623
(269) 459-0433
Added: Jun 16
Changed: Sep 16
Last Checked: Sep 23 at 5:06AM
MLS# 26029615
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This standalone 1,066-square-foot manufacturing building sits on a 0.36-acre parcel and is configured for dental laboratory operations or other light industrial applications. Existing infrastructure includes a central vacuum system, dust collector, and ventilation hood. Dental lab equipment may be included in the sale. The building also provides a rear accessibility ramp, bathroom, basement, forced-air heating, and central air conditioning.
Constructed in 1929, the property received a new roof in 2024 and a new awning in 2025. It is zoned I-1 Industrial and is located within an Opportunity Zone. Cable is available, and the property is served by a septic tank.
Constructed in 1929, the property received a new roof in 2024 and a new awning in 2025. It is zoned I-1 Industrial and is located within an Opportunity Zone. Cable is available, and the property is served by a septic tank.
Key Highlights
- 1,066 SF standalone manufacturing building on 0.36 acres
- I‑1 Industrial zoning supports manufacturing and light industrial applications
- Central vacuum system, dust collector, and ventilation hood infrastructure
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
$7,191
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
4.80%
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%
$143,820
$143.8K
Cap Rate 7%
$102,729
$102.7K
Cap Rate 9%
$79,900
$79.9K
Market Conditions
NOI Build-Up for 1,066 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
$11.8K $11.04/SF
− Vacancy
−$706 −$0.66/SF
EGI
$11.1K $10.38/SF
− OpEx
−$3.9K −$3.63/SF
NOI
$7.2K $6.75/SF
Area
Kalamazoo County, MI
Vacancy
6.00%
Lease Rate
$11.04 /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%
$143,820
Cap Rate 7%
$102,729
Cap Rate 9%
$79,900
Alternative Uses
Best Use
Industrial
$229.7K
$201.0K – $268.0K
NOI $16,081 @ 7.0% cap · market cap 10.73%
Second Best
Flex RnD
$102.7K
$89.9K – $119.9K
NOI $7,191 @ 7.0% cap · market cap 4.80%
Theoretical Best
Warehouse
$279.0K
$244.1K – $325.5K
NOI $19,527 @ 7.0% cap · market cap 13.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
304
Businesses Nearby
Explore this area
Business Placement
Demographics for 49002, MI
19,553
Population
8,975
Households
2.2
Avg Household Size
41
Median Age
43%
College-Educated
96%
High-School Grad
17.3 sq mi
ZIP Area
1,130
Density / Sq Mi
$71,621
Median Household Income
$45,938
Median Earnings
$910
Median Rent
$223,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Manufacturing property - I-1 Industrial property with lab infrastructure, recent exterior improvements, and potential for light industrial use.
Where is this manufacturing property located?
The property is located at 6242 Lovers Lane Portage, MI.
What is the asking price?
The asking price for this property is $149,900.
What are key features of this property?
This property features: 1,066 SF standalone manufacturing building on 0.36 acres; I‑1 Industrial zoning supports manufacturing and light industrial applications; Central vacuum system, dust collector, and ventilation hood infrastructure
