Multi-Tenant Building on Main
For Sale
$4,300,000
1121-1135 Rochester Road, Troy, MI 48084
Multi-tenant building for sale, close to I-75 and I-696.
Property Size42,900 SF
Price / SF$100.23
Days on Market326
Property Features for 1121-1135 Rochester Road
General Information
Standard status
Active
Size
42,900 SF
Property subtype
Industrial
Building Details
Year Built
1985
Listing Agency:
Signature Associates Warren
(586) 350-9599
Listed By:
Kris Pawlowski · License #6502127881
(586) 350-9599
Source:
Tcnworldwide
Added: Sep 25, 2025
Changed: Jul 6
Last Checked: Aug 16 at 5:06AM
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 Signature Associates Warren
Investment Insights
Based on property information with market context.
This 42,900 sq. ft. multi-tenant building is located on a main road with proximity to I-75 and I-696. The property features a truckwell. The owner plans to paint the warehouse, add LED lighting, and reconstruct the offices. The entire building is for sale, with 6,745 - 31,400 sq. ft. available for lease.
Key Highlights
- Entire 42,900 sq. ft. building for sale.
- Close proximity to I‑75/I‑696.
- Multi‑tenant building.
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
$258,101
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
6.00%
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%
$5,162,020
$5.2M
Cap Rate 7%
$3,687,157
$3.7M
Cap Rate 9%
$2,867,789
$2.9M
Market Conditions
NOI Build-Up for 42,900 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
$315.3K $7.35/SF
− Vacancy
−$11.7K −$0.27/SF
EGI
$303.6K $7.08/SF
− OpEx
−$45.5K −$1.06/SF
NOI
$258.1K $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%
$5,162,020
Cap Rate 7%
$3,687,157
Cap Rate 9%
$2,867,789
Alternative Uses
Best Use
Flex RnD
$6.34M
$5.55M – $7.40M
NOI $443,706 @ 7.0% cap · market cap 10.32%
Second Best
Warehouse
$3.69M
$3.23M – $4.30M
NOI $258,101 @ 7.0% cap · market cap 6.00%
Theoretical Best
Specialty Retail
$9.25M
$8.10M – $10.80M
NOI $647,721 @ 7.0% cap · market cap 15.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
995
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 48084, MI
16,364
Population
7,402
Households
2.2
Avg Household Size
37
Median Age
73%
College-Educated
99%
High-School Grad
6.2 sq mi
ZIP Area
2,639
Density / Sq Mi
$106,004
Median Household Income
$71,494
Median Earnings
$1,648
Median Rent
$420,000
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.
Similar Off Market Nearby
- ClassicAuto Showplace — 2135 Stephenson Hwy, Troy, MI 48083
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- Snell Self Storage — 1227 Rochester Rd, Troy, MI 48083
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Frequently Asked Questions
What type of property is this?
Warehouse - Multi-tenant building for sale, close to I-75 and I-696.
Where is this warehouse located?
The property is located at 1121-1135 Rochester Road Troy, MI.
What is the asking price?
The asking price for this property is $4,300,000.
What are key features of this property?
This property features: Entire 42,900 sq. ft. building for sale.; Close proximity to I‑75/I‑696.; Multi‑tenant building.
