Heated Flex Space with
New
For Sale
$262,500
6785 Enterprise Drive, Douglas, MI 49406
COMMERCIAL - Douglas, MI
Property Size1,750 SF
Price / SF$150
Days on Market4
Property Features for 6785 Enterprise Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
L-1 LIGHT IND
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Elementary school
Douglas Elementary School
Middle school
Saugatuck Middle School
High school
Saugatuck High School
Elementary school district
Saugatuck-Douglas
Middle school district
Saugatuck-Douglas
High school district
Saugatuck-Douglas
Directions
Blue Star Highway south of Douglas to east on Enterprise Drive. Property is on the left
Standard status
Active
APN
59-160-007-00
Size
1,750 SF
Taxes and HOA fees
Tax Year
2026
Tax Description
UNIT 7 ENTERPRISE BUSINESS COMPLEX CONDO SEC 21 T3N R16W TAX MAP: 0.04 AC (06).
Tax Annual Amount
3313
Legal Description
UNIT 7 ENTERPRISE BUSINESS COMPLEX CONDO SEC 21 T3N R16W TAX MAP: 0.04 AC (06).
Utilities
Utilities
Cable Available
Heating system
Forced Air, Space Heater
Amenities
full bathroom with shower
utility sink
car lift
private 3-person sauna
separate finished office
overhead natural gas heating unit
Building Details
Year built
2005
Floors in Building
1
Number of units
1
Building materials
Metal Siding
Roof type
Composition
Listing Agency:
BHG Connections
(269) 400-5400
Listed By:
Kevin Schippa · License #6506048199
(616) 212-3391
Added: Aug 18
Changed: Aug 19
Last Checked: Aug 21 at 8:06AM
MLS# 26043436
Copyright © 2026 Michigan Regional Information Center, LLC. 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 1,750-square-foot flex unit at 6785 Enterprise Drive provides a combination of open workspace and finished support areas. The 30-by-50-foot main level includes a finished office, full bathroom with shower, utility sink, and a 25-by-10-foot upper mezzanine. The garage area has 16-foot ceilings, a 14-foot overhead door, and room for equipment, vehicles, storage, or workshop activity. An overhead natural gas heating unit supports year-round use, while a car lift and private 3-person sauna add specialized functionality. The unit was built in 2005 with metal siding and a composition roof.
Water and sewer are provided through the association, and cable is available. The property is located in Douglas, MI, in Allegan County, near Saugatuck and the West Michigan lakeshore.
Water and sewer are provided through the association, and cable is available. The property is located in Douglas, MI, in Allegan County, near Saugatuck and the West Michigan lakeshore.
Key Highlights
- Approximately 1,750 Total Sq Ft, including 1,500 Main Floor and 25x10 Upper Mezzanine
- 30' x 50' unit with 16' ceilings
- 14' overhead door and open garage workspace
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
Property Profile
Current Use
Lease Details
16 ft
Clear height
1
Drive-in doors
Yes
Utilities to site
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 - Versatile unit includes an office, full bathroom, overhead door, and open work area.
Where is this flex space located?
The property is located at 6785 Enterprise Drive 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, including 1,500 Main Floor and 25x10 Upper Mezzanine; 30' x 50' unit with 16' ceilings; 14' overhead door and open garage workspace
