Industrial Flex
For Sale
$305,000
8750 PORTAGE INDUSTRIAL DR, Portage, MI 49024
Combined warehouse and office space supports manufacturing, distribution, contractor, and service operations.
Property Size1,339 SF
Price / SF$227.78
Days on Market87
Property Features for 8750 PORTAGE INDUSTRIAL DR
General Information
Standard status
Active
Size
1,339 SF
Property subtype
Industrial
Amenities
3
102140
Building Details
Year Built
1945
Listing Agency:
(616) 396-5221
Listed By:
Coldwell Banker Woodland Schmidt
(616) 886-2797
Source:
Xome
Added: Jun 16
Changed: Sep 9
Last Checked: Sep 9 at 3:53PM
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 Coldwell Banker Woodland Schmidt
Investment Insights
Based on property information with market context.
Built in 1945, this industrial flex property combines warehouse space with a dedicated office area. The configuration is suited to manufacturing, distribution, contracting, and service business operations, as well as owner-user occupancy.
The building is located at 8750 Portage Industrial Dr in Portage, Michigan, with access to major roadways serving the surrounding industrial area.
The building is located at 8750 Portage Industrial Dr in Portage, Michigan, with access to major roadways serving the surrounding industrial area.
Key Highlights
- Warehouse and office components within one industrial flex property
- Suitable for manufacturing, distribution, contractor, and service business operations
- Built in 1945
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
$24,527
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
8.04%
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%
$490,540
$490.5K
Cap Rate 7%
$350,386
$350.4K
Cap Rate 9%
$272,522
$272.5K
Market Conditions
NOI Build-Up for 1,339 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
$29.6K $22.08/SF
− Vacancy
−$710 −$0.53/SF
EGI
$28.9K $21.55/SF
− OpEx
−$4.3K −$3.23/SF
NOI
$24.5K $18.32/SF
Area
Kalamazoo County, MI
Vacancy
2.40%
Lease Rate
$22.08 /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%
$490,540
Cap Rate 7%
$350,386
Cap Rate 9%
$272,522
Alternative Uses
Best Use
Warehouse
$350.4K
$306.6K – $408.8K
NOI $24,527 @ 7.0% cap · market cap 8.04%
Second Best
Industrial
$288.6K
$252.5K – $336.7K
NOI $20,199 @ 7.0% cap · market cap 6.62%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
176
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 49024, MI
30,332
Population
13,232
Households
2.3
Avg Household Size
39
Median Age
51%
College-Educated
97%
High-School Grad
17.2 sq mi
ZIP Area
1,763
Density / Sq Mi
$86,427
Median Household Income
$49,914
Median Earnings
$1,208
Median Rent
$248,700
Median Home Value
Check the figures for this property
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Market
Vacancy Rate% for Industrial in Midwest region
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Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Flex space - Combined warehouse and office space supports manufacturing, distribution, contractor, and service operations.
Where is this flex space located?
The property is located at 8750 PORTAGE INDUSTRIAL DR Portage, MI.
What is the asking price?
The asking price for this property is $305,000.
What are key features of this property?
This property features: Warehouse and office components within one industrial flex property; Suitable for manufacturing, distribution, contractor, and service business operations; Built in 1945
