Manufacturing Facility with Laboratory
For Sale
$1,762,000
6710 Quality Way, Portage, MI 49002
I-1 light industrial facility with specialized laboratory areas, office space, controlled conditions, and reconfigurable interior systems.
Property Size14,075 SF
Lot Size1.84 Acres
Price / SF$125.19
Days on Market137
Property Features for 6710 Quality Way
General Information
Standard status
Active
Size
14,075 SF
Lot size
1.84 Acres
Property subtype
Commercial
Zoning
I-1
Warehouse & Industrial
Clear Height
20.8 ft
Clear Span
Yes
Office Build-Out
3,000 SF
Dock-High Doors
1
Drive-In Doors
2
Three-Phase Power
Yes
Additional Details
Asking Price
$1,762,000
Highway Access
Yes
Amenities
conference room
locker rooms
showers
EPS monitored security
Building Details
Year Built
2001
Building Size
14,075 SF
Listing Agency:
NAI Wisinski of West Michigan
(269) 353-0311
Listed By:
Jodi K Milks · License #6506044331
Source:
Vmrealestatemichigan
Added: Apr 16
Changed: Aug 29
Last Checked: Aug 25 at 8:08AM
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.
This 14,075-square-foot manufacturing facility occupies 1.837 acres and includes an approximately 3,000-square-foot office component. The interior is configured for laboratory and research operations, with five vivarium rooms, a surgery room, procedure areas, an industrial wash rack, locker rooms, restrooms with showers, private offices, a conference room, and mezzanine workspace. Removable wall systems support future reconfiguration of the laboratory areas.
Building infrastructure includes 300 KVA, 3-phase power, a backup generator, temperature control, EPS-monitored security, clear heights from 17 feet 10 inches to 20 feet 9 inches, one truck well, and two grade-level overhead doors. The property is zoned I-1 Light Industrial and is located in Portage with access to I-94 and nearby life science, medical device, and pharmaceutical employers.
Building infrastructure includes 300 KVA, 3-phase power, a backup generator, temperature control, EPS-monitored security, clear heights from 17 feet 10 inches to 20 feet 9 inches, one truck well, and two grade-level overhead doors. The property is zoned I-1 Light Industrial and is located in Portage with access to I-94 and nearby life science, medical device, and pharmaceutical employers.
Key Highlights
- 14,075 SF manufacturing facility on 1.837 acres
- Existing laboratory buildout with 5 vivarium rooms and a surgery room
- Approximately 3,000 SF of office space with private offices and conference room
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
$94,942
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
5.39%
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%
$1,898,840
$1.9M
Cap Rate 7%
$1,356,314
$1.4M
Cap Rate 9%
$1,054,911
$1.1M
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
$155.4K $11.04/SF
− Vacancy
−$9.3K −$0.66/SF
EGI
$146.1K $10.38/SF
− OpEx
−$51.1K −$3.63/SF
NOI
$94.9K $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%
$1,898,840
Cap Rate 7%
$1,356,314
Cap Rate 9%
$1,054,911
Alternative Uses
Best Use
Industrial
$3.03M
$2.65M – $3.54M
NOI $212,322 @ 7.0% cap · market cap 12.05%
Second Best
Flex RnD
$1.36M
$1.19M – $1.58M
NOI $94,942 @ 7.0% cap · market cap 5.39%
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
Property Profile
Current Use
Lease Details
20 ft
Clear height
1
Dock-high doors
2
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
115
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
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - I-1 light industrial facility with specialized laboratory areas, office space, controlled conditions, and reconfigurable interior systems.
Where is this manufacturing property 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 manufacturing facility on 1.837 acres; Existing laboratory buildout with 5 vivarium rooms and a surgery room; Approximately 3,000 SF of office space with private offices and conference room
