Commercial Land with Two
For Sale
$899,900
650 S State Street, Stanton, MI 48888
COMMERCIAL - Stanton, MI
Property Size7,724 SF
Lot Size35.83 Acres
Price / SF$116.51
Days on Market175
Property Features for 650 S State Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
Commercial
Parking features
Parking Lot
Exterior features
Vinyl, Stone, Steel
Lot features
Freestanding
Directions
M66 North to property
Subdivision
Montcalm
Standard status
Active
Size
7,724 SF
Lot size
35.83 Acres
Taxes and HOA fees
Tax Description
685-311 S 1/2 OF N 1/2 OF NE 1/4 OF SF. 1/4 LYINGE OF PM RR R/W SEC 1 TION R7W
Tax Annual Amount
5120
Legal Description
685-311 S 1/2 OF N 1/2 OF NE 1/4 OF SF. 1/4 LYINGE OF PM RR R/W SEC 1 TION R7W
Utilities
Water source
Private
Building Details
Building materials
Frame
Roof type
Asphalt
Listing Agency:
FIVE STAR REAL ESTATE - MT. PLEASANT
(616) 791-1500
Listed By:
Lisa Reidt
(989) 763-4465
Added: Mar 4
Changed: Aug 4
Last Checked: Aug 26 at 5:06AM
MLS# 1942707
Copyright © 2026 Northern Great Lakes Realtors MLS. 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 commercially zoned property in Stanton, MI includes approximately 35.83 acres of land and multiple buildings totaling approximately 10,124 square feet. The main building is approximately 7,724 square feet and has served as a sporting goods shop for nearly 30 years. Additional improvements include a 40x60 pole outbuilding with 5-inch concrete floors, 14' sidewalls, 3-phase power, and radiant heat installed in the floor that needs to be connected.
The property has frontage directly on the M-66 corridor and also includes two scenic, stocked ponds, with both ponds described as approximately 18 feet deep.
The listing includes multiple purchase options (pending split approval), including the entire property with the buildings and ponds, or combinations that split off the main building with approximately 3 acres and the remaining acreage with the pole building and ponds. The seller will consider custom splits with acceptable terms.
The property has frontage directly on the M-66 corridor and also includes two scenic, stocked ponds, with both ponds described as approximately 18 feet deep.
The listing includes multiple purchase options (pending split approval), including the entire property with the buildings and ponds, or combinations that split off the main building with approximately 3 acres and the remaining acreage with the pole building and ponds. The seller will consider custom splits with acceptable terms.
Key Highlights
- Commercially zoned 35.83‑acre property on high‑traffic M‑66 corridor with multiple buildings
- Approximately 10,124 SF of buildings, including a 7,724 SF main building
- Includes a 1.5‑acre pond and a 0.5‑acre pond (both approx. 18 ft in depth)
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
$80,182
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
8.91%
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%
$1,603,640
$1.6M
Cap Rate 7%
$1,145,457
$1.1M
Cap Rate 9%
$890,911
$890.9K
Market Conditions
NOI Build-Up for 7,724 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
$119.6K $15.48/SF
− Vacancy
−$5.0K −$0.65/SF
EGI
$114.5K $14.83/SF
− OpEx
−$34.4K −$4.45/SF
NOI
$80.2K $10.38/SF
Area
Montcalm 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%
$1,603,640
Cap Rate 7%
$1,145,457
Cap Rate 9%
$890,911
Alternative Uses
Best Use
Retail
$1.15M
$1.00M – $1.34M
NOI $80,182 @ 7.0% cap · market cap 8.91%
Second Best
—
—
no second resolved use
Theoretical Best
Self Storage
$106.90M
$93.53M – $124.71M
NOI $7,482,696 @ 7.0% cap · market cap 831.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
195
Businesses Nearby
6k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar Tree
Shops & Services
6,242 visits/mo
0.4 miles
Demographics for 48888, MI
6,258
Population
2,928
Households
2.1
Avg Household Size
45
Median Age
13%
College-Educated
89%
High-School Grad
85.2 sq mi
ZIP Area
73
Density / Sq Mi
$55,954
Median Household Income
$36,164
Median Earnings
$899
Median Rent
$147,300
Median Home Value
Market
Vacancy Rate% for Retail 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?
Commercial land - Commercially zoned acreage with approximately 10,124 square feet of buildings, including a main building and a 40x60 pole outbuilding.
Where is this commercial land located?
The property is located at 650 S State Street Stanton, MI.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: Commercially zoned 35.83‑acre property on high‑traffic M‑66 corridor with multiple buildings; Approximately 10,124 SF of buildings, including a 7,724 SF main building; Includes a 1.5‑acre pond and a 0.5‑acre pond (both approx. 18 ft in depth)
