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    New Construction Industrial Space Available Title is generated by Realmo AI

    1307 Enterprise Drive, Highland, MI 48357

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    For Lease
    $62,333 SF/Yr $353,220,333/Mo (calc)

    Real Estate Only - Highland, MI

    Property size:
    68,000 SF
    Added:
    Aug 6, 2025
    Days on Market:
    289
    Last Refresh:
    May 21 at 7:06 pm

    Property Features for 1307 Enterprise Drive

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    Light Industrial
    Standard status
    Active
    APN
    1121201007
    Size
    68,000 SF

    Building Details

    Year built
    2026
    Floors in Building
    1
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Donna M Charlick
    Donna M Charlick

    Listing agent Donna M Charlick

    Listing office RE/MAX Classic 800 N Milford Rd Ste 100, Farmington Hills, MI

    Listing date Aug 6, 2025

    MLS# 20251024506 Listing URL

    Copyright © 2026 Realcomp Limited II. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • New construction industrial space available in Summer 2026.
    • Flexible unit sizes: 5000 sq ft sections, expandable up to 68,000 sq ft.
    • Convenient location: Highland Twp, near Milford Rd/M‑59 intersection.
    • Heavy fire suppression system with interior sprinklers.
    • Energy‑efficient features: spray foam insulation, LED lighting, private thermostat.
    • Functional design: 14'W x 14'H overhead door, clear span steel construction, 3‑phase 200amp electrical.

    Overview

    Located in the Oakland Business Center in Highland Township, Michigan, this new construction offers industrial-zoned space. The property is situated approximately one-third west of the Milford Road and M-59 intersection, behind The Lift Restaurant and STS Athletic Complex. Pre-leasing is underway for 5,000-square-foot unit sections. Units can be multiplied in 5,000-square-foot sections, with multiple units able to run end-to-end or next to each other, up to a total of 68,000 square feet available. Each unit measures 50 feet wide by 100 feet deep. The property features heavy fire suppression with interior sprinklers, energy-efficient spray foam insulation, and a private thermostat. Electrical service includes 3-phase 200 amp. Each unit includes a standard bathroom with a sink and toilet, auto ON/OFF exterior lights, and high-efficiency LED lighting. Overhead radiant tube heating is installed, along with a 14-foot wide by 14-inch high overhead door with an adjacent pass door. The construction is clear span steel. Tenant is responsible for gas and electric usage. The estimated completion and availability is Summer 2026.
    Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Look Self Storage - Highland — 500 N Milford Rd, Highland Charter Twp, MI 48357
    • Storage Rentals of America — 1555 N Milford Rd, Highland Charter Twp, MI 48357
    • EZ Storage Space — 560 Highland Rd, Highland Charter Twp, MI 48357

    Location Insight

    • Map
    • Local Demand
    City
    Highland
    County
    State
    Michigan
    Longitude
    -83.6457
    Latitude
    42.6632

    Nearby Similar for Lease

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    • $4,583/Mo
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      New Construction Industrial Flex Space

      Pre-leasing industrial flex space in Oakland Business Center.
      1303 Enterprise Drive, Highland, MI 48357
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    • $13,750/Mo
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      New Industrial Space for Lease

      New construction industrial flex space available for lease in Highland.
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    • $1,750/Mo
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    FAQs

    What type of property is this?
    Warehouse - Pre-leasing industrial units in Oakland Business Center, Highland, MI.
    Where is this warehouse located?
    The property is located at 1307 Enterprise Drive Highland, MI.
    What is the lease rate?
    The lease rate is $62,333.
    What are key features of this property?
    This property features: New construction industrial space available in Summer 2026.; Flexible unit sizes: 5000 sq ft sections, expandable up to 68,000 sq ft.; Convenient location: Highland Twp, near Milford Rd/M‑59 intersection.
    (248) 684-6655
    We can help!
    Listing Contact
    Donna M Charlick
    Donna M Charlick
    Real Estate License ID: 6501264617
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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