Office Flex R&D
For Sale
$2,350,000
1150 Stephenson Hwy, Troy, MI 48083
Office/flex R&D building with high-end finishes, multiple exterior entrances, and I-75 expressway frontage.
Property Size18,131 SF
Price / SF$129.61
Days on Market140
Property Features for 1150 Stephenson Hwy
General Information
Standard status
Active
Size
18,131 SF
Class
C
Property subtype
Office
Site & Location
Traffic Count
131,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Additional Details
Drive-In Doors
2
Building Details
Building Size
18,131 SF
Year Built
1982
Listing Agency:
Thomas A. Duke Company
Listed By:
Andrew Goble
(248) 884-2304
Source:
Thomasduke
Added: Jun 2
Changed: Oct 11
Last Checked: Oct 19 at 4:46AM
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 Thomas A. Duke Company
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Investment Insights
Based on property information with market context.
This office/flex R&D building totals 18,131 SF and features high-end interior finishes. Multiple exterior entrances are available, including two double doors that support drive-in capability, along with ample parking for visitors and staff.
The property is prominently located within a professional office park on Stephenson Hwy, with expressway exposure along I-75. Public remarks note over 131,000 vehicles per day on I-75, and the site offers a prominent signage opportunity for a business user.
With its mix of office and flex/R&D functionality, the building is positioned to serve a range of day-to-day operational needs for a single business user.
The property is prominently located within a professional office park on Stephenson Hwy, with expressway exposure along I-75. Public remarks note over 131,000 vehicles per day on I-75, and the site offers a prominent signage opportunity for a business user.
With its mix of office and flex/R&D functionality, the building is positioned to serve a range of day-to-day operational needs for a single business user.
Key Highlights
- 18,131 SF office/flex R&D building built in 1982 with high‑end interior finishes and buildouts
- Excellent I‑75 expressway frontage with over 131,000 vehicles/day and prominent signage opportunity
- Multiple exterior entrances, including two double doors, offering drive‑in capability
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$187,525
Cap Rate
7.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,750,500
$3.8M
Cap Rate 7%
$2,678,929
$2.7M
Cap Rate 9%
$2,083,611
$2.1M
Market Conditions
NOI Build-Up for 18,131 SF
Gross rent
$326.4K $18.00/SF
− Vacancy
−$37.9K −$2.09/SF
EGI
$288.5K $15.91/SF
− OpEx
−$101.0K −$5.57/SF
NOI
$187.5K $10.34/SF
Area
Oakland County, MI
Vacancy
11.60%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,750,500
Cap Rate 7%
$2,678,929
Cap Rate 9%
$2,083,611
Alternative Uses
Best Use
Flex RnD
$2.68M
$2.34M – $3.13M
NOI $187,525 @ 7.0% cap · market cap 7.98%
Second Best
Industrial
$1.28M
$1.12M – $1.50M
NOI $89,832 @ 7.0% cap · market cap 3.82%
Theoretical Best
Specialty Retail
$3.91M
$3.42M – $4.56M
NOI $273,749 @ 7.0% cap · market cap 11.65%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Drive-in doors
131,000 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,108
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 48083, MI
24,074
Population
10,437
Households
2.3
Avg Household Size
41
Median Age
53%
College-Educated
91%
High-School Grad
8.6 sq mi
ZIP Area
2,799
Density / Sq Mi
$88,551
Median Household Income
$53,204
Median Earnings
$1,277
Median Rent
$293,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Similar Off Market Nearby
- Forte Belanger — 700 Stephenson Hwy, Troy, MI 48083
- Metrix Café — 1414 E Maple Rd, Troy, MI 48083
Frequently Asked Questions
What type of property is this?
Flex space - Office/flex R&D building with high-end finishes, multiple exterior entrances, and I-75 expressway frontage.
Where is this flex space located?
The property is located at 1150 Stephenson Hwy Troy, MI.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: 18,131 SF office/flex R&D building built in 1982 with high‑end interior finishes and buildouts; Excellent I‑75 expressway frontage with over 131,000 vehicles/day and prominent signage opportunity; Multiple exterior entrances, including two double doors, offering drive‑in capability
