Warehouse Unit with Bathroom
New
For Sale
$165,000
791 Case Karsten Drive, Zeeland, MI 49464
Commercial Sale, Zeeland, MI
Property Size768 SF
Price / SF$214.84
Days on Market1
Property Features for 791 Case Karsten Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Zoning description
Industrial
Interior features
Broadband
Elementary school district
Zeeland
Middle school district
Zeeland
High school district
Zeeland
Standard status
Active
APN
70-17-18-226-026
Size
768 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 1. DRAWFORM PLAT - UNIT 26
Tax Annual Amount
526
Legal Description
LOT 1. DRAWFORM PLAT - UNIT 26
Utilities
Heating system
Forced Air
Building Details
Year built
2026
Floors in Building
1
Number of units
1
Building materials
Metal Siding
Listing Agency:
Coldwell Banker Woodland Schmidt ART Office
(616) 772-5478
Listed By:
Derrek Sterken · License #6501451743
(616) 403-3442
Added: Sep 10
Last Checked: Sep 10 at 8:06PM
MLS# 26048087
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 768-square-foot warehouse unit is under construction and scheduled for completion in October 2026. The 16' x 48' space features metal siding, a unit heater supported by forced-air heating, a cold-water spigot, and plumbing in place for a bathroom. Broadband is also included.
Located at 791 Case Karsten Drive in Zeeland, the property sits just off Riley St. The flexible interior can accommodate storage for boats, RVs, vehicles, or recreational equipment, as well as a small business, workshop, hobby area, or private hangout, based on the stated property configuration and intended uses.
Located at 791 Case Karsten Drive in Zeeland, the property sits just off Riley St. The flexible interior can accommodate storage for boats, RVs, vehicles, or recreational equipment, as well as a small business, workshop, hobby area, or private hangout, based on the stated property configuration and intended uses.
Key Highlights
- 16' x 48' warehouse unit with 768 square feet
- Under construction with completion scheduled for October 2026
- Unit heater and forced‑air heating
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
$12,930
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
7.84%
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%
$258,600
$258.6K
Cap Rate 7%
$184,714
$184.7K
Cap Rate 9%
$143,667
$143.7K
Market Conditions
NOI Build-Up for 768 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
$16.6K $21.60/SF
− Vacancy
−$1.4K −$1.79/SF
EGI
$15.2K $19.81/SF
− OpEx
−$2.3K −$2.97/SF
NOI
$12.9K $16.84/SF
Area
Ottawa County, MI
Vacancy
8.30%
Lease Rate
$21.60 /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%
$258,600
Cap Rate 7%
$184,714
Cap Rate 9%
$143,667
Alternative Uses
Best Use
Warehouse
$184.7K
$161.6K – $215.5K
NOI $12,930 @ 7.0% cap · market cap 7.84%
Second Best
Industrial
$161.9K
$141.7K – $188.9K
NOI $11,333 @ 7.0% cap · market cap 6.87%
Theoretical Best
Multifamily LT 5
$9.55M
$8.36M – $11.14M
NOI $668,520 @ 7.0% cap · market cap 405.16%
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
Location Intelligence
Trade Area within ½ mile
143
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49464, MI
29,654
Population
11,001
Households
2.7
Avg Household Size
37
Median Age
35%
College-Educated
95%
High-School Grad
73.1 sq mi
ZIP Area
406
Density / Sq Mi
$97,573
Median Household Income
$47,030
Median Earnings
$976
Median Rent
$316,700
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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Similar Off Market Nearby
- Zeeland Self Storage — 231 N Centennial St, Zeeland, MI 49464
- Tysman Mini Storage — 660 e riley st, zeeland, mi 49464
- Bill Tysman Mini Storage - Zeeland — 660 E Riley St, Zeeland, MI 49464
- Extra Space Storage — 3440 88th Ave, Zeeland, MI 49464
Frequently Asked Questions
What type of property is this?
Warehouse - Under-construction warehouse unit with heating, water access, and bathroom plumbing.
Where is this warehouse located?
The property is located at 791 Case Karsten Drive Zeeland, MI.
What is the asking price?
The asking price for this property is $165,000.
What are key features of this property?
This property features: 16' x 48' warehouse unit with 768 square feet; Under construction with completion scheduled for October 2026; Unit heater and forced‑air heating
