Two-Building Industrial
For Sale
$1,125,000
10709 Capital Street Oak, Oak Park, MI 48237
Two industrial warehouse buildings totaling 16,013 SF with multiple overhead doors and 12'–15' clear heights.
Property Size16,013 SF
Days on Market63
Property Features for 10709 Capital Street Oak
General Information
Standard status
Active
Size
16,013 SF
Property subtype
Factory
Building Details
Building Size
16,013 SF
Listing Agency:
Farbman Group
(248) 351-4384
Listed By:
Daniel McCleary · License #6502113479
(248) 351-4384
Source:
Thebrokerlist
Added: Jun 23
Changed: Aug 23
Last Checked: Aug 24 at 3:15AM
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 Farbman Group
Investment Insights
Based on property information with market context.
This offering includes two industrial warehouse buildings totaling 16,013 SF. The front building provides 9,468 SF with three overhead doors: two 12' x 14' doors and one 12' x 12' door, along with 12'–15' clear height. The back building offers 6,545 SF with two overhead doors, including one 10' x 10' door and one 12' x 12' door, with 10'–14' clear height. Ample natural light is noted for the production areas.
Located at 10709 Capital Street in Oak Park, the property is presented as a straightforward industrial setup with room for tailored use across both buildings.
Located at 10709 Capital Street in Oak Park, the property is presented as a straightforward industrial setup with room for tailored use across both buildings.
Key Highlights
- Two industrial warehouse buildings totaling 16,013 SF available for sale
- Front building: 9,468 SF with (2) 12' x 14' and (1) 12' x 12' OHD; 12'–15' clear height
- Back building: 6,545 SF with (1) 10' x 10' and (1) 12' x 12' OHD; 10'–14' clear height
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
$96,340
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
8.56%
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%
$1,926,800
$1.9M
Cap Rate 7%
$1,376,286
$1.4M
Cap Rate 9%
$1,070,444
$1.1M
Market Conditions
NOI Build-Up for 16,013 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
$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 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%
$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
NOI $96,340 @ 7.0% cap · market cap 8.56%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.45M
$3.02M – $4.03M
NOI $241,771 @ 7.0% cap · market cap 21.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Two industrial warehouse buildings totaling 16,013 SF with multiple overhead doors and 12'–15' clear heights.
Where is this warehouse located?
The property is located at 10709 Capital Street Oak 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: Two industrial warehouse buildings totaling 16,013 SF available for sale; Front building: 9,468 SF with (2) 12' x 14' and (1) 12' x 12' OHD; 12'–15' clear height; Back building: 6,545 SF with (1) 10' x 10' and (1) 12' x 12' OHD; 10'–14' clear height
