Flex Warehouse with Road
95 W Carleton Road Hillsdale, MI 49242
95 W Carleton Road, Hillsdale, MI, 49242
$249,000
For Sale
$249,000
Flex/warehouse building with utilities, 140+ feet of road frontage, and substantial existing pavement on Carleton Road.
Property Size1,800 SF
Price / SF$138.33
Days on Market219
Property Features for 95 W Carleton Road
General Information
- Standard status
- Active
- Size
- 1,800 SF
- Property subtype
- Business Opportunity
Building Details
- Year Built
- 1950
Listing agency
Spieth & Satow Auctions & Real Estate
(517) 398-6060
Listed by
Darin W Spieth · License #6501348697
(517) 398-6060
Source
Homesforsaleinmich
Added: Dec 15, 2025 Updated: Jul 22 at 7:55AM Checked: Jul 22 at 7:55AM
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 Spieth & Satow Auctions & Real Estate
Investment Insights
Based on property information with market context.
The property includes a 1,800+ square foot building positioned for flexible commercial use, with utilities already in place. The structure is described as solid, with the option to use it as-is or convert for alternative uses, supported by the existing improvements.
The site offers 140+ feet of road frontage on Carleton Road (M99) “on the curve” in Hillsdale, along with a large amount of existing pavement that supports practical on-site operations.
Overall, the combination of a standing building, utilities in place, substantial frontage, and existing pavement is designed to support a range of commercial configurations.
The site offers 140+ feet of road frontage on Carleton Road (M99) “on the curve” in Hillsdale, along with a large amount of existing pavement that supports practical on-site operations.
Overall, the combination of a standing building, utilities in place, substantial frontage, and existing pavement is designed to support a range of commercial configurations.
Key Highlights
- 1,800+ SF flex/warehouse building on Carleton Road (M99) in Hillsdale
- Utilities are in place
- Over 140 feet of road frontage on Carleton Road (M99)
Local Financial Insights For Flex RnD
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $25.3k | $14.04 |
| − Vacancy | −$2.0k | −$1.12 |
| EGI | $23.3k | $12.92 |
| − OpEx | −$8.1k | −$4.52 |
| NOI | $15.1k | $8.40 |
1,800 SF · lease $14.04/SF/yr · vacancy 8.00% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$215.9K
$188.9K – $251.9K
NOI $15,113 @ 7.0% cap · market cap 6.07%
Second Best
Warehouse
$176.8K
$154.7K – $206.3K
NOI $12,379 @ 7.0% cap · market cap 4.97%
Theoretical Best
Specialty Retail
$286.0K
$250.3K – $333.7K
NOI $20,020 @ 7.0% cap · market cap 8.04%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
Similar Off Market Nearby
- Cascades Urology — 240 W Carleton Rd, Hillsdale, MI 49242
- Hillsdale College Dining — Central Hall, 33 E College St, Hillsdale, MI 49242
FAQs
What type of property is this?
Flex space - Flex/warehouse building with utilities, 140+ feet of road frontage, and substantial existing pavement on Carleton Road.
Where is this flex space located?
The property is located at 95 W Carleton Road Hillsdale, MI.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: 1,800+ SF flex/warehouse building on Carleton Road (M99) in Hillsdale; Utilities are in place; Over 140 feet of road frontage on Carleton Road (M99)
