10709 Capital St, Oak Park, MI 48237

Building Details

Building Size 16,013 SF More

Buildings 2 More

Listing Agency: NAI Farbman

Listed By: Dan McCleary · License MI #6502113479 Show Phone

Source: Cpix.resimplifi

Added: Sep 16 Changed: Oct 31 Last Checked: Nov 10 at 5:01AM

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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 NAI Farbman

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Investment Insights

Based on property information with market context.

This 16,013-square-foot warehouse is arranged in front and rear sections suited to production, storage, and distribution functions. The 9,468-square-foot front area includes two 12-foot by 14-foot overhead doors and one 12-foot by 12-foot overhead door, with clear heights ranging from 12 to 15 feet. The 6,545-square-foot rear area provides one 10-foot by 10-foot door and one 12-foot by 12-foot door, with 10- to 14-foot clear heights. Natural light reaches the production areas.

The property is located at 10709 Capital St in Oak Park, Michigan, and carries LI zoning. Its central setting and transportation access support logistics and distribution operations serving the surrounding area.

Key Highlights

• 16,013 SF total warehouse building
• 9,468 SF front section with 3 overhead doors and 12'–15' clear height
• 6,545 SF rear section with 2 overhead doors and 10'–14' clear height

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$96,340

Cap Rate

8.56%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,926,800 $1.9M

Cap Rate 7%

$1,376,286 $1.4M

Cap Rate 9%

$1,070,444 $1.1M

Is this asking price fair?

Market Conditions

NOI Build-Up for 16,013 SF

Gross rent

$117.7K $7.35/SF

− Vacancy

−$4.4K −$0.27/SF

EGI

$113.3K $7.08/SF

− OpEx

−$17.0K −$1.06/SF

NOI

$96.3K $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%

$1,926,800

Cap Rate 7%

$1,376,286

Cap Rate 9%

$1,070,444

Alternative Uses

Best Use

Warehouse

$1.38M

$1.20M – $1.61M (±1% cap)

NOI $96,340 @ 7.0% cap · market cap 8.56%

Second Best

Industrial

$1.13M

$991.7K – $1.32M (±1% cap)

NOI $79,339 @ 7.0% cap · market cap 7.05%

Theoretical Best

Specialty Retail

$3.45M

$3.02M – $4.03M (±1% cap)

NOI $241,771 @ 7.0% cap · market cap 21.49%

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

Property Analytics

Current Use

Manufacturing properties

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Restaurant Building Supply Storage Facility

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

Location Intelligence

Trade Area within ½ mile

801

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 48237, MI

29,560

Population

13,036

Households

2.3

Avg Household Size

38

Median Age

39%

College-Educated

93%

High-School Grad

5.1 sq mi

ZIP Area

5,796

Density / Sq Mi

$65,882

Median Household Income

$44,992

Median Earnings

$1,354

Median Rent

$198,500

Median Home Value

Market

Average Price Trend$/SF for Warehouses in Oakland County, MI

$111 Jul

$97.32 Aug

$105 Sep

$105 Oct

Properties on Market for Warehouses in Oakland County

Jul

Aug

Sep

Oct

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 - Industrial warehouse offering separate front and rear areas, natural light, and LI zoning for production or distribution operations.

Where is this warehouse located?

The property is located at 10709 Capital St Oak Park, MI.

What is the asking price?

The asking price for this property is $1,125,000.

What are key features of this property?

This property features: 16,013 SF total warehouse building; 9,468 SF front section with 3 overhead doors and 12'–15' clear height; 6,545 SF rear section with 2 overhead doors and 10'–14' clear height