Mixed-Use Property with
For Sale
$600,000
7251 Midland Road, Freeland, MI 48623
Commercial Sale, Freeland, MI
Property Size4,960 SF
Lot Size10.19 Acres
Price / SF$120.97
Days on Market130
Property Features for 7251 Midland Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
commercial
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Interior features
Broadband
Elementary school district
Freeland
Middle school district
Freeland
High school district
Freeland
Standard status
Active
APN
29133214003009 & 29-13-3-21-4003-010
Size
4,960 SF
Lot size
10.19 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
at LO
Tax Annual Amount
6654
Legal Description
at LO
Utilities
Utilities
Cable Available
Heating system
Forced Air
Water source
Well
Water front
1
Amenities
3-phase power
multiple power outlets
updated electrical
2 furnaces
workshop space
showroom area
pole barn
campground with 35 rustic campsites
boat launch
Building Details
Year built
1970
Number of units
1
Building materials
Block, Metal Siding
Roof type
Metal
Listing Agency:
Keller Williams GR East · Keller Williams Realty
(616) 575-1800
Listed By:
Priscilla Cazier · License #6501409399
(616) 644-5398
Added: May 20
Changed: Sep 12
Last Checked: Sep 26 at 4:06AM
MLS# 26024863
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.
Set on 10.19 acres, this 1970-built mixed-use property includes 4,960 square feet with workshop and showroom areas. The building has block and metal-siding construction, a metal roof, forced-air heat served by 2 furnaces, and electrical improvements completed within the last 10 years. Three-phase power and multiple outlets support operational flexibility, while broadband and a well are available on site.
An attached campground adds 35 rustic campsites, and a nearby boat launch contributes a recreational component to the property. A separate 20-by-60-foot pole barn provides additional covered space. The property fronts Midland Road in Freeland, Michigan, and its existing commercial, storage, and campground improvements create a combined operating platform.
An attached campground adds 35 rustic campsites, and a nearby boat launch contributes a recreational component to the property. A separate 20-by-60-foot pole barn provides additional covered space. The property fronts Midland Road in Freeland, Michigan, and its existing commercial, storage, and campground improvements create a combined operating platform.
Key Highlights
- 10.19‑acre mixed‑use property with 4,960 square feet of building area
- Attached campground with 35 rustic campsites
- 20‑by‑60‑foot pole barn for additional covered 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
Industrial
$369.5K
$323.3K – $431.1K
NOI $25,863 @ 7.0% cap · market cap 4.31%
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
Unlock full access to Insights
Subscribe to Realmo Intelligence
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - The property combines workshop and showroom areas with an attached rustic campground.
Where is this mixed-use property located?
The property is located at 7251 Midland Road 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: 10.19‑acre mixed‑use property with 4,960 square feet of building area; Attached campground with 35 rustic campsites; 20‑by‑60‑foot pole barn for additional covered space
