Flex Property with
For Sale
Contact for pricing
7 Brebner Rd E, Negaunee, MI 49866
Three separate buildings provide office, pole barn, and warehouse space for varied commercial operations.
Property Size6,776 SF
Price / SF$87.81
Days on Market153
Property Features for 7 Brebner Rd E
General Information
Standard status
Active
Size
6,776 SF
Property subtype
Industrial, Mixed Use, Office
Zoning
GB-General Business District
Building Details
Year Built
1979
Buildings
3
Listing Agency:
RE/MAX 1st Realty
(906) 225-7653
Listed By:
Terry Huffman · License #MI 6506001775
Source:
Crexi
Added: Apr 1
Changed: Aug 30
Last Checked: Aug 30 at 9:47AM
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 RE/MAX 1st Realty
Investment Insights
Based on property information with market context.
This flex property contains 6,776 square feet across three separate structures: a 960-square-foot office building, a 960-square-foot pole barn, and a 4,856-square-foot warehouse. The warehouse offers large garage doors, open work area, substantial parking, and truck circulation through the site. The office includes two private offices, a conference room, central workspace, bathroom, entry and coffee area, and large windows. Built in 1979, the property is zoned GB-General Business District.
Located in Negaunee Township near US-41 and minutes from Marquette, the site provides separate driveways for the office and the warehouse/pole barn, supporting distinct traffic patterns. Three-phase power is available at the pole for the large buildings, adding utility for industrial, storage, service, contractor, and administrative operations.
Located in Negaunee Township near US-41 and minutes from Marquette, the site provides separate driveways for the office and the warehouse/pole barn, supporting distinct traffic patterns. Three-phase power is available at the pole for the large buildings, adding utility for industrial, storage, service, contractor, and administrative operations.
Key Highlights
- 6,776 SF across a 960 sq ft office, 960 sq ft pole barn, and 4,856 sq ft warehouse
- Warehouse features large garage doors, open workspace, truck access, and a large parking area
- GB‑General Business District zoning
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
$43,059
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
7.24%
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%
$861,180
$861.2K
Cap Rate 7%
$615,129
$615.1K
Cap Rate 9%
$478,433
$478.4K
Market Conditions
NOI Build-Up for 6,776 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
$56.9K $8.40/SF
− Vacancy
−$6.3K −$0.92/SF
EGI
$50.7K $7.48/SF
− OpEx
−$7.6K −$1.12/SF
NOI
$43.1K $6.35/SF
Area
Marquette County, MI
Vacancy
11.00%
Lease Rate
$8.40 /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%
$861,180
Cap Rate 7%
$615,129
Cap Rate 9%
$478,433
Alternative Uses
Best Use
Office B
$1.50M
$1.31M – $1.75M
NOI $104,771 @ 7.0% cap · market cap 17.61%
Second Best
Flex RnD
$883.7K
$773.2K – $1.03M
NOI $61,859 @ 7.0% cap · market cap 10.40%
Theoretical Best
Office A
$2.00M
$1.75M – $2.33M
NOI $139,694 @ 7.0% cap · market cap 23.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
30
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49866, MI
8,259
Population
3,723
Households
2.2
Avg Household Size
41
Median Age
34%
College-Educated
96%
High-School Grad
201.3 sq mi
ZIP Area
41
Density / Sq Mi
$83,433
Median Household Income
$47,467
Median Earnings
$900
Median Rent
$191,700
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 - Three separate buildings provide office, pole barn, and warehouse space for varied commercial operations.
Where is this flex space located?
The property is located at 7 Brebner Rd E Negaunee, MI.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 6,776 SF across a 960 sq ft office, 960 sq ft pole barn, and 4,856 sq ft warehouse; Warehouse features large garage doors, open workspace, truck access, and a large parking area; GB‑General Business District zoning
