Flex-Industrial Building with Overhead
For Sale
$1,450,000
9340 Shaver Road, Portage, MI 49024
COMMERCIAL - Portage, MI
Property Size14,589 SF
Lot Size1.59 Acres
Price / SF$99.39
Days on Market195
Property Features for 9340 Shaver Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
I-1
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Interior features
Broadband
Elementary school district
Portage
Middle school district
Portage
High school district
Portage
Standard status
Active
APN
00028-040-O
Size
14,589 SF
Lot size
1.59 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
On file.
Tax Annual Amount
23235
Legal Description
On file.
Utilities
Utilities
Cable Available
Heating system
Space Heater, Forced Air
Building Details
Year built
1979
Floors in Building
1
Number of units
1
Listing Agency:
NAI Wisinski of West Michigan
(269) 353-0311
Listed By:
Kara Schroer · License #6501373674
(269) 459-0435
Added: Feb 6
Changed: Aug 4
Last Checked: Aug 20 at 5:06AM
MLS# 26004374
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.
Flex-industrial building at 9340 Shaver Road, Portage, MI, offered for sale. The property is configured for flexible use with suite sizes ranging from 1,802 SF to 32,789 SF and features overhead doors in each suite, supporting storage, warehousing, light assembly, or contractor use. The layout is multi-tenant, allowing for partial occupancy.
Outdoor parking and 3-phase power are available to support day-to-day operational needs. The lot size is 1.59 acres, and the overall listed building size is 14,589 SF. An adjacent industrial building is also available, offering the option to expand onto a larger industrial footprint.
Suites are delivered with practical loading access via overhead doors, making the building well-suited for users seeking adaptable flex space within a single property.
Outdoor parking and 3-phase power are available to support day-to-day operational needs. The lot size is 1.59 acres, and the overall listed building size is 14,589 SF. An adjacent industrial building is also available, offering the option to expand onto a larger industrial footprint.
Suites are delivered with practical loading access via overhead doors, making the building well-suited for users seeking adaptable flex space within a single property.
Key Highlights
- Versatile flex/industrial building for sale or lease with flexible suite sizes from 1,802 SF to 32,789 SF
- Each suite includes overhead doors for storage, warehousing, light assembly, or contractor use
- Multi‑tenant layout supports partial occupancy
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
$98,409
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
6.79%
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%
$1,968,180
$2.0M
Cap Rate 7%
$1,405,843
$1.4M
Cap Rate 9%
$1,093,433
$1.1M
Market Conditions
NOI Build-Up for 14,589 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
$161.1K $11.04/SF
− Vacancy
−$9.7K −$0.66/SF
EGI
$151.4K $10.38/SF
− OpEx
−$53.0K −$3.63/SF
NOI
$98.4K $6.75/SF
Area
Kalamazoo County, MI
Vacancy
6.00%
Lease Rate
$11.04 /SF/Yr
Expense Ratio
35.00%
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%
$1,968,180
Cap Rate 7%
$1,405,843
Cap Rate 9%
$1,093,433
Alternative Uses
Best Use
Warehouse
$3.82M
$3.34M – $4.45M
NOI $267,235 @ 7.0% cap · market cap 18.43%
Second Best
Industrial
$3.14M
$2.75M – $3.67M
NOI $220,076 @ 7.0% cap · market cap 15.18%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
100
Businesses Nearby
Well-served
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
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- All Foods to Go Catering — 1807 Vanderbilt Ave, Portage, MI 49024
Frequently Asked Questions
What type of property is this?
Flex space - Flex-industrial property with overhead doors, multi-tenant suite options, outdoor parking, and 3-phase power.
Where is this flex space located?
The property is located at 9340 Shaver Road Portage, MI.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Versatile flex/industrial building for sale or lease with flexible suite sizes from 1,802 SF to 32,789 SF; Each suite includes overhead doors for storage, warehousing, light assembly, or contractor use; Multi‑tenant layout supports partial occupancy
