Building Details

Year Built 1980

Listing Agency: Lady of the Lakes Real Estate, Inc.

Listed By: Timothy Przysiecki · License #6501262162 Show Phone

Source: Katie-k

Added: Apr 11 Changed: Oct 15 Last Checked: Oct 7 at 3:28PM

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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 Lady of the Lakes Real Estate, Inc.

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 / Yr

$62,345

Cap Rate

4.17%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

NOI $62,345 @ 7.0% cap · market cap 4.17%

Second Best

Industrial

$866.7K

$758.4K – $1.01M (±1% cap)

NOI $60,669 @ 7.0% cap · market cap 4.06%

Theoretical Best

Healthcare Medical

$1.59M

$1.39M – $1.86M (±1% cap)

NOI $111,499 @ 7.0% cap · market cap 7.46%

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

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Restaurant Auto Parts Store Pharmacy Electrical Service 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

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

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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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.