Mixed-Use Property with
For Sale
$600,000
7251 MIDLAND RD, Freeland, MI 48623
Includes workshop, showroom, and pole-barn space for varied commercial operations.
Property Size4,960 SF
Price / SF$120.97
Days on Market116
Property Features for 7251 MIDLAND RD
General Information
Standard status
Active
Size
4,960 SF
Property subtype
Business Opportunities
Site & Location
Road Access
Yes
Utilities to Site
Yes
Additional Details
Three-Phase Power
Yes
Amenities
3-phase power
multiple power outlets
2 furnaces
workshop space
showroom area
pole barn
campground with 35 rustic campsites
boat launch
3
Metal
Building Details
Year Built
1970
Listing Agency:
Keller Williams GR East
(616) 575-1800
Listed By:
Priscilla Cazier · License #6501409399
(616) 644-5398
Source:
Xome
Added: May 18
Changed: Sep 9
Last Checked: Sep 9 at 4:10PM
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.
Located at 7251 Midland Rd in Freeland, this 4,960-square-foot mixed-use property combines commercial building space with an attached campground. The building includes a workshop, showroom area, two furnaces, three-phase power, and multiple power outlets. Electrical service was updated within the last 10 years, supporting a range of operational layouts.
The property also includes a 20-by-60-foot pole barn for storage or additional work space, along with 35 rustic campsites. A nearby boat launch adds a recreational component to the site, which most recently operated as a machine shop after earlier use as a hardware store. The combination of building improvements, outdoor accommodations, and recreational access creates a property with both commercial and campground components.
The property also includes a 20-by-60-foot pole barn for storage or additional work space, along with 35 rustic campsites. A nearby boat launch adds a recreational component to the site, which most recently operated as a machine shop after earlier use as a hardware store. The combination of building improvements, outdoor accommodations, and recreational access creates a property with both commercial and campground components.
Key Highlights
- 4,960‑square‑foot mixed‑use property at 7251 Midland Rd, Freeland, MI
- Attached campground includes 35 rustic campsites
- 20‑by‑60‑foot pole barn provides additional storage or work space
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
$40,176
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
6.70%
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%
$803,520
$803.5K
Cap Rate 7%
$573,943
$573.9K
Cap Rate 9%
$446,400
$446.4K
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
$71.4K $14.40/SF
− Vacancy
−$7.1K −$1.44/SF
EGI
$64.3K $12.96/SF
− OpEx
−$24.1K −$4.86/SF
NOI
$40.2K $8.10/SF
Area
Saginaw County, MI
Vacancy
10.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
37.50%
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%
$803,520
Cap Rate 7%
$573,943
Cap Rate 9%
$446,400
Alternative Uses
Best Use
Mixed Use
$573.9K
$502.2K – $669.6K
NOI $40,176 @ 7.0% cap · market cap 6.70%
Second Best
Retail
$527.8K
$461.8K – $615.7K
NOI $36,943 @ 7.0% cap · market cap 6.16%
Theoretical Best
Specialty Retail
$916.4K
$801.9K – $1.07M
NOI $64,148 @ 7.0% cap · market cap 10.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
172
Businesses Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Includes workshop, showroom, and pole-barn space for varied commercial operations.
Where is this mixed-use property located?
The property is located at 7251 MIDLAND RD Freeland, MI.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 4,960‑square‑foot mixed‑use property at 7251 Midland Rd, Freeland, MI; Attached campground includes 35 rustic campsites; 20‑by‑60‑foot pole barn provides additional storage or work space
