Building Details

Year built 2000

Roof type Rubber

Listing Agency: Keller Williams First · Keller Williams Realty g***@gmail.com Show Phone

Listed By: Lynn Mattila · License #123055 Show Phone

Added: Jul 15 Changed: Oct 8 Last Checked: Oct 16 at 7:06AM

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MLS# 50215021

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Investment Insights

Based on property information with market context.

This standalone flex facility combines warehouse space with a finished office component that includes a lobby, two private offices, a full kitchen, and a bathroom. The building is insulated and has upgraded LED lighting, dedicated HVAC for the office area, radiant tube heating in one warehouse section, and three 8-foot overhead doors. An 8-foot clear height and a 14'9" central partition height support varied loading and workspace arrangements. The property also has 400-amp electrical service for equipment-intensive operations.

Set on 1.77 acres of light-industrial land, the facility is served by public water and city sewer. Built in 2000, it has a rubber roof and offers a combination of enclosed work, storage, and administrative areas in a single building.

Key Highlights

• 1.77 acres of light‑industrial land
• Three 8‑foot overhead doors for loading
• 8‑foot clear height with 14'9" central partition height

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$36,730

Cap Rate

6.13%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$734,600 $734.6K

Cap Rate 7%

$524,714 $524.7K

Cap Rate 9%

$408,111 $408.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,105 SF

Gross rent

$44.9K $7.35/SF

− Vacancy

−$1.7K −$0.27/SF

EGI

$43.2K $7.08/SF

− OpEx

−$6.5K −$1.06/SF

NOI

$36.7K $6.02/SF

Area

Oakland County, MI

Vacancy

3.70%

Lease Rate

$7.35 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$734,600

Cap Rate 7%

$524,714

Cap Rate 9%

$408,111

Alternative Uses

Best Use

Flex RnD

$902.0K

$789.3K – $1.05M (±1% cap)

NOI $63,143 @ 7.0% cap · market cap 10.54%

Second Best

Warehouse

$524.7K

$459.1K – $612.2K (±1% cap)

NOI $36,730 @ 7.0% cap · market cap 6.13%

Theoretical Best

Specialty Retail

$1.32M

$1.15M – $1.54M (±1% cap)

NOI $92,176 @ 7.0% cap · market cap 15.39%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Metropoulos Amplification Association Or Organization

Suggested Use

Top Pick Building Supply Plumbing Service Big Box & Wholesale Store HVAC Service Auto Parts Store Skin Care Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

8 ft

Clear height

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

34

Businesses Nearby

Well-served

Demand for This Use

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 Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Light-industrial acreage supports a flexible facility combining warehouse, office, storage, and service-oriented workspace.

Where is this flex space located?

The property is located at 10460 N Holly Road Holly, MI.

What is the asking price?

The asking price for this property is $599,000.

What are key features of this property?

This property features: 1.77 acres of light‑industrial land; Three 8‑foot overhead doors for loading; 8‑foot clear height with 14'9" central partition height