Flex Space with
For Sale
$262,500
6785 ENTERPRISE DR, Douglas, MI 49406
Clean, upgraded commercial unit combines workspace, storage, office accommodations, and specialty amenities in a flexible garage setting.
Property Size1,750 SF
Price / SF$150
Days on Market8
Property Features for 6785 ENTERPRISE DR
General Information
Standard status
Active
Size
1,750 SF
Property subtype
Industrial
Warehouse & Industrial
Clear Height
16 ft
Warehouse Space
1,500 SF
Mezzanine
250 SF
Drive-In Doors
1
Amenities
separate finished office
full bathroom with shower
utility sink
car lift
private 3-person sauna
3
Composition
Building Details
Year Built
2005
Listing Agency:
BHG Connections
(616) 212-3391
Listed By:
Kevin Schippa · License #6506048199
(616) 212-3391
Source:
Xome
Added: Aug 15
Changed: Aug 22
Last Checked: Aug 21 at 3:46AM
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 BHG Connections
Investment Insights
Based on property information with market context.
This commercial flex unit provides approximately 1,750 Total Sq Ft across a 1,500 Main Floor and a 25x10 Upper Mezzanine. The 30' x 50' layout includes 16' ceilings, a 14' overhead door, and a finished office for dedicated work or hobby use. A full bathroom with shower and utility sink add practical support space, while the car lift and private 3-person sauna extend the unit beyond basic storage.
Located at 6785 ENTERPRISE DR in Douglas, MI, the property is positioned in the Saugatuck-Douglas area. The 2005-built commercial garage/storage condo is described as clean and well-maintained, with a configuration suited to storage, workshop, recreational, equipment, or collector-vehicle applications as supported by the existing improvements.
Located at 6785 ENTERPRISE DR in Douglas, MI, the property is positioned in the Saugatuck-Douglas area. The 2005-built commercial garage/storage condo is described as clean and well-maintained, with a configuration suited to storage, workshop, recreational, equipment, or collector-vehicle applications as supported by the existing improvements.
Key Highlights
- Approximately 1,750 Total Sq Ft with 1,500 Main Floor & 25x10 Upper Mezzanine
- 30' x 50' unit with 16' ceilings
- 14' overhead door
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
$9,937
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
3.79%
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%
$198,740
$198.7K
Cap Rate 7%
$141,957
$142.0K
Cap Rate 9%
$110,411
$110.4K
Market Conditions
NOI Build-Up for 1,750 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
$12.0K $6.88/SF
− Vacancy
−$349 −$0.20/SF
EGI
$11.7K $6.68/SF
− OpEx
−$1.8K −$1.00/SF
NOI
$9.9K $5.68/SF
Area
Allegan County, MI
Vacancy
2.90%
Lease Rate
$6.88 /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%
$198,740
Cap Rate 7%
$141,957
Cap Rate 9%
$110,411
Alternative Uses
Best Use
Warehouse
$142.0K
$124.2K – $165.6K
NOI $9,937 @ 7.0% cap · market cap 3.79%
Second Best
Industrial
$116.9K
$102.3K – $136.4K
NOI $8,184 @ 7.0% cap · market cap 3.12%
Theoretical Best
Hotel Hospitality
$16.43M
$14.38M – $19.17M
NOI $1,150,402 @ 7.0% cap · market cap 438.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
16 ft
Clear height
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
93
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49406, MI
1,031
Population
921
Households
1.1
Avg Household Size
60
Median Age
66%
College-Educated
99%
High-School Grad
1.5 sq mi
ZIP Area
687
Density / Sq Mi
$95,417
Median Household Income
$78,333
Median Earnings
$470,500
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?
Flex space - Clean, upgraded commercial unit combines workspace, storage, office accommodations, and specialty amenities in a flexible garage setting.
Where is this flex space located?
The property is located at 6785 ENTERPRISE DR Douglas, MI.
What is the asking price?
The asking price for this property is $262,500.
What are key features of this property?
This property features: Approximately 1,750 Total Sq Ft with 1,500 Main Floor & 25x10 Upper Mezzanine; 30' x 50' unit with 16' ceilings; 14' overhead door
