Insulated Storage Condo with Radiant
For Sale
$195,000
6340 Goose Drive, Freeland, MI 48623
COMMERCIAL - Freeland, MI
Property Size2,500 SF
Lot Size0.05 Acres
Price / SF$78
Days on Market50
Property Features for 6340 Goose Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Lot features
Dead End
Subdivision
Tittabawassee Twp (73026)
Standard status
Active
APN
29-13-3-27-3001-015
Size
2,500 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
3611
Utilities
Heating system
Radiant
Water source
Public
Building Details
Year built
2026
Roof type
Asphalt
Listing Agency:
Century 21 Signature Realty (Freeland) · Century 21 Real Estate
(989) 921-7000
Listed By:
Michael Schauman · License #6501377421
(989) 529-5100
Added: Jul 2
Changed: Aug 4
Last Checked: Aug 20 at 6:06PM
MLS# 50213553
Copyright © 2026 Multiple Listing Service MiRealSource. 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 insulated storage condo (Unit 5) offers a built-for-year-round setup with radiant tube heat and white steel-finished interior walls and ceilings. The unit includes a convenient two-piece bathroom and an interior hose hookup, along with a separate 3' x 6'8" entry door with keypad access for secure convenience. For moving larger items, Unit 5 has two oversized 16' x 14' overhead doors designed for wide access.
The property is located at 6340 Goose Drive in Freeland, Michigan (48623). Ownership is described as low maintenance, with monthly association dues of $200 covering exterior building maintenance, lawn care, and snow removal.
With a fully customizable interior, this unit is configured as a secure enclosed space for storage and workspace uses, with ample room to adapt for different needs within the insulated shell.
The property is located at 6340 Goose Drive in Freeland, Michigan (48623). Ownership is described as low maintenance, with monthly association dues of $200 covering exterior building maintenance, lawn care, and snow removal.
With a fully customizable interior, this unit is configured as a secure enclosed space for storage and workspace uses, with ample room to adapt for different needs within the insulated shell.
Key Highlights
- Unit 5 is a 50' x 50' insulated storage condo built in 2026
- Radiant tube heat with a public water source; asphalt roof
- Two oversized 16' x 14' overhead doors for large vehicles and equipment
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
$17,136
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
8.79%
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%
$342,720
$342.7K
Cap Rate 7%
$244,800
$244.8K
Cap Rate 9%
$190,400
$190.4K
Market Conditions
NOI Build-Up for 2,500 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
$21.0K $8.40/SF
− Vacancy
−$840 −$0.34/SF
EGI
$20.2K $8.06/SF
− OpEx
−$3.0K −$1.21/SF
NOI
$17.1K $6.85/SF
Area
Saginaw County, MI
Vacancy
4.00%
Lease Rate
$8.40 /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%
$342,720
Cap Rate 7%
$244,800
Cap Rate 9%
$190,400
Alternative Uses
Best Use
Self Storage
$291.4K
$255.0K – $339.9K
NOI $20,396 @ 7.0% cap · market cap 10.46%
Second Best
Warehouse
$244.8K
$214.2K – $285.6K
NOI $17,136 @ 7.0% cap · market cap 8.79%
Theoretical Best
Specialty Retail
$461.9K
$404.2K – $538.9K
NOI $32,333 @ 7.0% cap · market cap 16.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Drive-in doors
Location Intelligence
Trade Area within ½ mile
71
Businesses Nearby
Explore this area
Business Placement
Demographics for 48623, MI
15,105
Population
5,495
Households
2.7
Avg Household Size
41
Median Age
33%
College-Educated
96%
High-School Grad
72.8 sq mi
ZIP Area
207
Density / Sq Mi
$96,371
Median Household Income
$54,433
Median Earnings
$1,176
Median Rent
$230,300
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?
Self storage facility - Insulated 50' x 50' storage condo with radiant tube heat, two oversized overhead doors, bathroom, and keypad entry.
Where is this self storage facility located?
The property is located at 6340 Goose Drive Freeland, MI.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: Unit 5 is a 50' x 50' insulated storage condo built in 2026; Radiant tube heat with a public water source; asphalt roof; Two oversized 16' x 14' overhead doors for large vehicles and equipment
