Former Life Science Laboratory
For Sale
$1,762,000
6710 QUALITY WAY, Portage, MI 49002
Purpose-built lab facility with office space, vivarium, surgery room, and specialized support areas, zoned I-1 Light Industrial.
Property Size14,075 SF
Lot Size1.84 Acres
Price / SF$125.19
Days on Market76
Property Features for 6710 QUALITY WAY
General Information
Standard status
Active
Size
14,075 SF
Lot size
1.84 Acres
Property subtype
Industrial
Zoning
I-1
Warehouse & Industrial
Clear Height
20 ft
Drive-In Doors
2
Heavy Power
Yes
Additional Details
Highway Access
Yes
Amenities
3
200400
Building Details
Year Built
2001
Listing Agency:
NAI Wisinski of West Michigan
(269) 207-1040
Listed By:
Jodi Milks · License #6506044331
(269) 207-1040
Source:
Xome
Added: May 28
Changed: Aug 8
Last Checked: Aug 11 at 4:40AM
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 NAI Wisinski of West Michigan
Investment Insights
Based on property information with market context.
For sale: 14,075 SF former life science laboratory facility with 3,000 SF of office space, situated on 1.837 acres in the City of Portage. The property includes a purpose-built laboratory buildout designed for research and testing, featuring a vivarium with five rooms, a surgery room, and specialized support areas including an industrial wash rack. Office amenities include private offices, a conference room, and mezzanine workspace, along with locker rooms and multiple restrooms with showers.
Building infrastructure supports lab operations, including 300 KVA, 3-phase power, an onsite backup generator, and EPS monitored security. Clearspan ceiling heights range from 17'10" to 20'9", with one truck well and two grade-level overhead doors.
The property is zoned I-1 Light Industrial and is located with access to I-94, in close proximity to Portage’s life science, medical device, and pharmaceutical employers. Some lab equipment may be included in the sale.
Building infrastructure supports lab operations, including 300 KVA, 3-phase power, an onsite backup generator, and EPS monitored security. Clearspan ceiling heights range from 17'10" to 20'9", with one truck well and two grade-level overhead doors.
The property is zoned I-1 Light Industrial and is located with access to I-94, in close proximity to Portage’s life science, medical device, and pharmaceutical employers. Some lab equipment may be included in the sale.
Key Highlights
- 14,075 SF purpose‑built former life science laboratory facility with 3,000 SF office on 1.837 acres in the City of Portage
- Includes laboratory buildout with vivarium (5 rooms), surgery room, and specialized support areas
- Office and amenities include private offices, conference room, mezzanine workspace, locker rooms, and multiple restrooms with showers
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
$141,065
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
8.01%
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%
$2,821,300
$2.8M
Cap Rate 7%
$2,015,214
$2.0M
Cap Rate 9%
$1,567,389
$1.6M
Market Conditions
NOI Build-Up for 14,075 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
$202.7K $14.40/SF
− Vacancy
−$14.6K −$1.04/SF
EGI
$188.1K $13.36/SF
− OpEx
−$47.0K −$3.34/SF
NOI
$141.1K $10.02/SF
Area
Kalamazoo County, MI
Vacancy
7.20%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
25.00%
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%
$2,821,300
Cap Rate 7%
$2,015,214
Cap Rate 9%
$1,567,389
Alternative Uses
Best Use
Industrial
$3.03M
$2.65M – $3.54M
NOI $212,322 @ 7.0% cap · market cap 12.05%
Second Best
Office B
$2.02M
$1.76M – $2.35M
NOI $141,065 @ 7.0% cap · market cap 8.01%
Theoretical Best
Warehouse
$3.68M
$3.22M – $4.30M
NOI $257,820 @ 7.0% cap · market cap 14.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
20 ft
Clear height
2
Drive-in doors
Yes
Heavy power
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
109
Businesses Nearby
Well-served
Demand for This Use
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
Market
Vacancy Rate% for Office 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 - Purpose-built lab facility with office space, vivarium, surgery room, and specialized support areas, zoned I-1 Light Industrial.
Where is this flex space located?
The property is located at 6710 QUALITY WAY Portage, MI.
What is the asking price?
The asking price for this property is $1,762,000.
What are key features of this property?
This property features: 14,075 SF purpose‑built former life science laboratory facility with 3,000 SF office on 1.837 acres in the City of Portage; Includes laboratory buildout with vivarium (5 rooms), surgery room, and specialized support areas; Office and amenities include private offices, conference room, mezzanine workspace, locker rooms, and multiple restrooms with showers
