Flex Building with Overhead Door
For Sale
Contact for pricing
6398 Blue Star Highway, Saugatuck, MI 49453
A 4,000 SF flex-style building with overhead door access, office area, kitchen/break area, and storage on 3.274 acres.
Property Size4,000 SF
Lot Size3.27 Acres
Price / SF$287.50
Days on Market122
Property Features for 6398 Blue Star Highway
General Information
Standard status
Active
Size
4,000 SF
Total Parking Spaces
20
Lot size
3.27 Acres
Property subtype
Retail, Office, Mixed Use
Zoning
C-3
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Additional Details
Drive-In Doors
1
Building Details
Year Built
2006
Units
20
Listing Agency:
Wildlife Realty
Listed By:
Blake VerWoert · License #6502424945
(231) 652-7000
Source:
Crexi
Added: May 7
Changed: Aug 14
Last Checked: Sep 1 at 9:41AM
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 Wildlife Realty
Investment Insights
Based on property information with market context.
This 4,000 SF commercial building was built in 2006 and features poured-wall construction with a versatile interior layout suited for retail, showroom, service, warehouse, or mixed commercial use. The building includes office space, a kitchen/break area, two bathrooms, storage, and overhead door access, supported by underground utilities and municipal water and sewer service.
The property sits on 3.274 acres and is described as located just off Blue Star Highway at Exit 41 off US-196, with traffic light access nearby and strong northbound traffic counts. The site offers ample parking along with flexibility for outdoor display, expansion, or future development, and it is supported by an up-to-date survey.
The building’s combination of office amenities and warehouse-style access makes it well-suited for businesses that need both customer-facing space and practical operational functionality.
The property sits on 3.274 acres and is described as located just off Blue Star Highway at Exit 41 off US-196, with traffic light access nearby and strong northbound traffic counts. The site offers ample parking along with flexibility for outdoor display, expansion, or future development, and it is supported by an up-to-date survey.
The building’s combination of office amenities and warehouse-style access makes it well-suited for businesses that need both customer-facing space and practical operational functionality.
Key Highlights
- 4,000 SF commercial building built in 2006 with poured‑wall construction
- C‑3 commercial zoning on 3.274 acres with ample parking and outdoor display capability
- Versatile layout for retail, showroom, service, warehouse, or mixed commercial use; previously a sporting goods store
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
$41,524
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
3.61%
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%
$830,480
$830.5K
Cap Rate 7%
$593,200
$593.2K
Cap Rate 9%
$461,378
$461.4K
Market Conditions
NOI Build-Up for 4,000 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
$61.9K $15.48/SF
− Vacancy
−$2.6K −$0.65/SF
EGI
$59.3K $14.83/SF
− OpEx
−$17.8K −$4.45/SF
NOI
$41.5K $10.38/SF
Area
Allegan County, MI
Vacancy
4.20%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
30.00%
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%
$830,480
Cap Rate 7%
$593,200
Cap Rate 9%
$461,378
Alternative Uses
Best Use
Retail
$593.2K
$519.1K – $692.1K
NOI $41,524 @ 7.0% cap · market cap 3.61%
Second Best
Industrial
$267.2K
$233.8K – $311.8K
NOI $18,705 @ 7.0% cap · market cap 1.63%
Theoretical Best
Hotel Hospitality
$37.56M
$32.87M – $43.82M
NOI $2,629,489 @ 7.0% cap · market cap 228.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
58
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49453, MI
2,950
Population
2,113
Households
1.4
Avg Household Size
53
Median Age
52%
College-Educated
98%
High-School Grad
10.4 sq mi
ZIP Area
284
Density / Sq Mi
$101,250
Median Household Income
$49,970
Median Earnings
$766
Median Rent
$487,400
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 - A 4,000 SF flex-style building with overhead door access, office area, kitchen/break area, and storage on 3.274 acres.
Where is this flex space located?
The property is located at 6398 Blue Star Highway Saugatuck, MI.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 4,000 SF commercial building built in 2006 with poured‑wall construction; C‑3 commercial zoning on 3.274 acres with ample parking and outdoor display capability; Versatile layout for retail, showroom, service, warehouse, or mixed commercial use; previously a sporting goods store
