Storage Garage
For Sale
Contact for pricing
10320 North Holly Road, Holly, MI 48442
Individually finished garage condos with private half bath, climate comfort, and vehicle-friendly drainage features.
Property Size3,000 SF
Price / SF$172.67
Days on Market100
Property Features for 10320 North Holly Road
General Information
Standard status
Active
Size
3,000 SF
Class
B
Property subtype
Self Storage, Industrial, Mixed Use
Zoning
Commercial
Investment Type
Owner/User
Warehouse & Industrial
Clear Height
20 ft
Drive-In Doors
1
Building Details
Year Built
2026
Buildings
1
Units
2
Listing Agency:
eXp Commercial
Listed By:
Brian McNamara · License #6505433427
Source:
Crexi
Added: Jun 2
Changed: Aug 26
Last Checked: Sep 8 at 3:53AM
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 eXp Commercial
Investment Insights
Based on property information with market context.
This offering consists of Holly Woods Garage Condos / Storage Condos with premium garage units built for vehicle collectors, RV and boat owners, hobbyists, and small-business storage or workspace needs. Each unit includes fully finished interiors with block and drywall, R19 insulated walls, and R38 insulated ceilings. The space is laid out with reinforced concrete floors with a vapor barrier, LED lighting, and a floor drain system with filter and oil/water separation. Units also feature a private half bathroom, plumbing rough-ins for a utility sink, and a 14’ insulated garage door with window panels, along with a jackshaft opener and remote. Mechanical and electrical provisions include forced-air gas heat and A/C with a Wi‑Fi thermostat, 100-amp electrical service with outlets, an interior hose bib, and Comcast internet hookup. Optional post-closing upgrades include mezzanine level, utility sink, ceiling fans, and enhanced electrical packages, and units may be combined for additional space.
The property is located at 10320 North Holly Road in Holly, Michigan. The association dues are $96 per month and cover security-gate access, outdoor lighting, snow removal, grounds maintenance, on-site dumpster service, and security cameras.
For tenants, buyers, or operators seeking a private, self-contained storage or small-workspace setup, these insulated, finished garage condos provide practical comfort and durability, including vapor barrier floors, vehicle-focused drainage, and dedicated restroom plumbing. The condo configuration and optional upgrade path allow buyers to tailor the unit features to their intended use while retaining independent access and managed common-area services.
The property is located at 10320 North Holly Road in Holly, Michigan. The association dues are $96 per month and cover security-gate access, outdoor lighting, snow removal, grounds maintenance, on-site dumpster service, and security cameras.
For tenants, buyers, or operators seeking a private, self-contained storage or small-workspace setup, these insulated, finished garage condos provide practical comfort and durability, including vapor barrier floors, vehicle-focused drainage, and dedicated restroom plumbing. The condo configuration and optional upgrade path allow buyers to tailor the unit features to their intended use while retaining independent access and managed common-area services.
Key Highlights
- Phase 1 Holly Woods garage/storage condos—premium 3,000 SF garage units for car collectors, RV/boat owners, and storage/workspace needs
- Each unit features vaulted ceilings (20’ front tapering to 17’ rear) plus a private half bathroom
- Vehicle‑friendly drainage: floor drain with filter and oil/water separation system
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
$31,028
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
5.99%
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%
$620,560
$620.6K
Cap Rate 7%
$443,257
$443.3K
Cap Rate 9%
$344,756
$344.8K
Market Conditions
NOI Build-Up for 3,000 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
$54.0K $18.00/SF
− Vacancy
−$6.3K −$2.09/SF
EGI
$47.7K $15.91/SF
− OpEx
−$16.7K −$5.57/SF
NOI
$31.0K $10.34/SF
Area
Oakland County, MI
Vacancy
11.60%
Lease Rate
$18.00 /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%
$620,560
Cap Rate 7%
$443,257
Cap Rate 9%
$344,756
Alternative Uses
Best Use
Flex RnD
$443.3K
$387.9K – $517.1K
NOI $31,028 @ 7.0% cap · market cap 5.99%
Second Best
Self Storage
$427.5K
$374.1K – $498.8K
NOI $29,925 @ 7.0% cap · market cap 5.78%
Theoretical Best
Specialty Retail
$647.1K
$566.2K – $754.9K
NOI $45,295 @ 7.0% cap · market cap 8.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20 ft
Clear height
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
50
Businesses Nearby
Explore this area
Business Placement
Demographics for 48442, MI
21,803
Population
9,722
Households
2.2
Avg Household Size
42
Median Age
29%
College-Educated
94%
High-School Grad
85.9 sq mi
ZIP Area
254
Density / Sq Mi
$80,281
Median Household Income
$50,769
Median Earnings
$1,243
Median Rent
$252,500
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Individually finished garage condos with private half bath, climate comfort, and vehicle-friendly drainage features.
Where is this self storage facility located?
The property is located at 10320 North Holly Road Holly, MI.
What is the asking price?
The asking price for this property is $518,000.
What are key features of this property?
This property features: Phase 1 Holly Woods garage/storage condos—premium 3,000 SF garage units for car collectors, RV/boat owners, and storage/workspace needs; Each unit features vaulted ceilings (20’ front tapering to 17’ rear) plus a private half bathroom; Vehicle‑friendly drainage: floor drain with filter and oil/water separation system
