Flex Property with
New
For Sale
$712,000
7251 Midland Road, Freeland, MI 48623
Commercially zoned property combines showroom and workshop areas with power infrastructure, storage, and an attached campground.
Property Size4,960 SF
Days on Market3
Property Features for 7251 Midland Road
General Information
Standard status
Active
Size
4,960 SF
Property subtype
Commercial
Zoning
commercial
Site & Location
Road Access
Yes
Utilities to Site
Yes
Additional Details
Three-Phase Power
Yes
Taxes and HOA fees
Annual Taxes
$6,653
Amenities
campground
boat launch
Building Details
Building Size
4,960 SF
Year Built
1970
Buildings
2
Stories
4960
Units
1
Listing Agency:
Keller Williams GR East
(616) 575-1800
Listed By:
Priscilla Cazier · License #6501409399
Source:
Thebrokeragehouse
Added: Aug 9
Changed: Aug 11
Last Checked: Aug 10 at 4:45AM
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 Keller Williams GR East
Investment Insights
Based on property information with market context.
This commercial-zoned flex property includes workshop space, a showroom area, multiple power outlets, and 3-phase power. Electrical systems were updated within the last 10 years, and the building has 2 furnaces. A 20x60 pole barn adds separate storage or operational space. The property was built in 1970 and has previously housed a hardware store and machine shop.
An attached campground provides 35 rustic campsites and includes a boat launch nearby. The combination of industrial improvements, display space, accessory storage, and campground facilities supports a range of commercial property configurations without assigning a specific future use.
An attached campground provides 35 rustic campsites and includes a boat launch nearby. The combination of industrial improvements, display space, accessory storage, and campground facilities supports a range of commercial property configurations without assigning a specific future use.
Key Highlights
- 3‑phase power and multiple power outlets
- Electrical updated within the last 10 years
- Workshop and showroom areas included
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
$36,943
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
5.19%
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%
$738,860
$738.9K
Cap Rate 7%
$527,757
$527.8K
Cap Rate 9%
$410,478
$410.5K
Market Conditions
NOI Build-Up for 4,960 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
$64.3K $12.96/SF
− Vacancy
−$11.5K −$2.32/SF
EGI
$52.8K $10.64/SF
− OpEx
−$15.8K −$3.19/SF
NOI
$36.9K $7.45/SF
Area
Saginaw County, MI
Vacancy
17.90%
Lease Rate
$12.96 /SF/Yr
Expense Ratio
30.00%
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%
$738,860
Cap Rate 7%
$527,757
Cap Rate 9%
$410,478
Alternative Uses
Best Use
Retail
$527.8K
$461.8K – $615.7K
NOI $36,943 @ 7.0% cap · market cap 5.19%
Second Best
Flex RnD
$389.1K
$340.5K – $453.9K
NOI $27,236 @ 7.0% cap · market cap 3.83%
Theoretical Best
Specialty Retail
$916.4K
$801.9K – $1.07M
NOI $64,148 @ 7.0% cap · market cap 9.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
172
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 48623, MI
15,105
Population
5,495
Households
2.7
Avg Household Size
41
Median Age
33%
College-Educated
96%
High-School Grad
72.8 sq mi
ZIP Area
207
Density / Sq Mi
$96,371
Median Household Income
$54,433
Median Earnings
$1,176
Median Rent
$230,300
Median Home Value
Market
Vacancy Rate% for Industrial 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 - Commercially zoned property combines showroom and workshop areas with power infrastructure, storage, and an attached campground.
Where is this flex space located?
The property is located at 7251 Midland Road Freeland, MI.
What is the asking price?
The asking price for this property is $712,000.
What are key features of this property?
This property features: 3‑phase power and multiple power outlets; Electrical updated within the last 10 years; Workshop and showroom areas included
