Hamburg Township Development
For Sale
$1,495,000
10776 Hall Rd, Whitmore Lake, MI 48189
Infill development site with flexible zoning and existing infrastructure.
Property Size10,000 SF
Price / SF$149.50
Days on Market142
Property Features for 10776 Hall Rd
General Information
Standard status
Active
Size
10,000 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$2,723
Building Details
Building Size
10,000 SF
Year Built
1980
Listing Agency:
Century 21 Lady of the Lakes
(734) 426-6060
Listed By:
Timothy Przysiecki · License #6501262162
(734) 426-6060
Source:
Elliman
Added: Apr 11
Changed: Aug 28
Last Checked: Aug 29 at 10:55AM
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 Century 21 Lady of the Lakes
Investment Insights
Based on property information with market context.
This Hamburg Township site offers an infill development opportunity with flexible zoning options and existing infrastructure. The property is currently designated for Light Industrial use and includes a 10,000 sq ft office/manufacturing building suitable for renovation for continued industrial or flex-use operations. The township has indicated openness to high-density residential redevelopment, expanding the potential uses. Natural gas, electric, and municipal sewer utilities are available at the street. The property's adjacency to the Lakeland Trail enhances marketability for residential concepts and allows for the option to split the property for phased development or mixed-use integration. The site is positioned for various development strategies, including high-density residential (townhomes, stacked flats, apartments), mixed-use residential/commercial leveraging trail access, and flex industrial or tech-light manufacturing with renovation of the existing structure. Preliminary approval exists for storage units. Commercial pad or service-based uses are supported by increasing local traffic and population growth. The property is strategically located and infrastructure-ready, allowing developers to capitalize on current zoning and future land-use flexibility in a growing market. The bike score is 42, indicating it is somewhat bikeable, and the walk score is 26, indicating it is car-dependent.
Key Highlights
- Strategically located in a rapidly expanding market.
- Flexible zoning with township support for high‑density residential redevelopment, expanding development potential.
- Existing infrastructure (natural gas, electric, municipal sewer) at the street reduces upfront development costs.
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
$62,345
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
4.17%
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%
$1,246,900
$1.2M
Cap Rate 7%
$890,643
$890.6K
Cap Rate 9%
$692,722
$692.7K
Market Conditions
NOI Build-Up for 10,000 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
$99.6K $9.96/SF
− Vacancy
−$3.7K −$0.37/SF
EGI
$95.9K $9.59/SF
− OpEx
−$33.6K −$3.36/SF
NOI
$62.3K $6.23/SF
Area
Livingston County, MI
Vacancy
3.70%
Lease Rate
$9.96 /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%
$1,246,900
Cap Rate 7%
$890,643
Cap Rate 9%
$692,722
Alternative Uses
Best Use
Flex RnD
$890.6K
$779.3K – $1.04M
NOI $62,345 @ 7.0% cap · market cap 4.17%
Second Best
Industrial
$866.7K
$758.4K – $1.01M
NOI $60,669 @ 7.0% cap · market cap 4.06%
Theoretical Best
Healthcare Medical
$1.59M
$1.39M – $1.86M
NOI $111,499 @ 7.0% cap · market cap 7.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
51
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 48189, MI
14,038
Population
6,196
Households
2.3
Avg Household Size
43
Median Age
38%
College-Educated
97%
High-School Grad
34.2 sq mi
ZIP Area
410
Density / Sq Mi
$82,433
Median Household Income
$48,223
Median Earnings
$1,228
Median Rent
$286,200
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Infill development site with flexible zoning and existing infrastructure.
Where is this flex space located?
The property is located at 10776 Hall Rd Whitmore Lake, MI.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: Strategically located in a rapidly expanding market.; Flexible zoning with township support for high‑density residential redevelopment, expanding development potential.; Existing infrastructure (natural gas, electric, municipal sewer) at the street reduces upfront development costs.
