Building Details

Building Size 16,404 SF

Year Built 2000

Buildings 1

Listing Agency: L. Mason Capitani, Inc.

Listed By: Jason Capitani, SIOR, CCIM · License #6502137804 Show Phone

Source: Corfac

Added: Oct 23 Last Checked: Oct 24 at 3:38PM

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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 L. Mason Capitani, Inc.

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Investment Insights

Based on property information with market context.

This 16,404-square-foot warehouse and distribution facility was built in 2000. Interior clearance ranges from 19.5 feet to 24 feet beneath the trusses, with bay widths of 60 feet. Two exterior truckwells serve the building. The warehouse also has fire suppression, T-8 lighting fixtures, and a Cambridge heating system.

The property is located in Howell Township at the intersection of M-59 and I-96.

Key Highlights

• 16,404‑square‑foot warehouse and distribution facility
• 19.5‑foot to 24‑foot clearance beneath the trusses
• 60‑foot bay widths

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$119,969

Cap Rate

6.66%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,399,380 $2.4M

Cap Rate 7%

$1,713,843 $1.7M

Cap Rate 9%

$1,332,989 $1.3M

Is this asking price fair?

Market Conditions

NOI Build-Up for 16,404 SF

Gross rent

$147.6K $9.00/SF

− Vacancy

−$6.5K −$0.40/SF

EGI

$141.1K $8.60/SF

− OpEx

−$21.2K −$1.29/SF

NOI

$120.0K $7.31/SF

Area

Livingston County, MI

Vacancy

4.40%

Lease Rate

$9.00 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,399,380

Cap Rate 7%

$1,713,843

Cap Rate 9%

$1,332,989

Alternative Uses

Best Use

Warehouse

$1.71M

$1.50M – $2.00M (±1% cap)

NOI $119,969 @ 7.0% cap · market cap 6.66%

Second Best

Industrial

$1.42M

$1.24M – $1.66M (±1% cap)

NOI $99,521 @ 7.0% cap · market cap 5.53%

Theoretical Best

Healthcare Medical

$2.61M

$2.29M – $3.05M (±1% cap)

NOI $182,903 @ 7.0% cap · market cap 10.16%

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

Property Analytics

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Current Use

Distribution centers

Suggested Use

Top Pick Real Estate Agency Dental Office Building Supply Restaurant Hair Salon Pharmacy

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

24 ft

Clear height

2

Dock-high doors

Yes

Sprinkler system

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

176

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 48843, MI

47,704

Population

19,001

Households

2.5

Avg Household Size

41

Median Age

37%

College-Educated

95%

High-School Grad

89.6 sq mi

ZIP Area

532

Density / Sq Mi

$91,620

Median Household Income

$48,613

Median Earnings

$1,221

Median Rent

$323,100

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

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Frequently Asked Questions

What type of property is this?

Warehouse - Fire suppression, T-8 fixtures, and Cambridge heating serve the warehouse interior.

Where is this warehouse located?

The property is located at 1063 Packard Drive Howell, MI.

What is the asking price?

The asking price for this property is $1,800,000.

What are key features of this property?

This property features: 16,404‑square‑foot warehouse and distribution facility; 19.5‑foot to 24‑foot clearance beneath the trusses; 60‑foot bay widths