40,016 Sq Ft Industrial
For Sale
Contact for pricing
118 Indianwood Rd Lake, Orion Township, MI 48362
4 acre lot with room for additional development.
Property Size40,016 SF
Lot Size4.00 Acres
Price / SF$99.96
Days on Market1619
Property Features for 118 Indianwood Rd Lake
General Information
Standard status
Active
Size
40,016 SF
Class
B
Lot size
4.00 Acres
Property subtype
Industrial
Building Details
Year Built
1945
Buildings
1
Stories
1
Units
6
Listing Agency:
NAI Farbman
Listed By:
Gavin Mills · License #MI 6501397648
(908) 581-1142
Source:
Crexi
Added: May 2, 2022
Changed: Oct 3
Last Checked: Oct 5 at 7:09PM
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 NAI Farbman
Investment Insights
Based on property information with market context.
This property features a 40,016 square foot industrial building situated on a 4-acre lot. The site offers ample space for further development.
Key Highlights
- 40,016 Sq ft industrial building
- Situated on a 4 Acre Lot
- Room for Additional development
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$240,750
Cap Rate
6.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,815,000
$4.8M
Cap Rate 7%
$3,439,286
$3.4M
Cap Rate 9%
$2,675,000
$2.7M
Market Conditions
NOI Build-Up for 40,016 SF
Gross rent
$294.1K $7.35/SF
− Vacancy
−$10.9K −$0.27/SF
EGI
$283.2K $7.08/SF
− OpEx
−$42.5K −$1.06/SF
NOI
$240.7K $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 Rate 5%
$4,815,000
Cap Rate 7%
$3,439,286
Cap Rate 9%
$2,675,000
Alternative Uses
Best Use
Warehouse
$3.44M
$3.01M – $4.01M
NOI $240,750 @ 7.0% cap · market cap 6.02%
Second Best
Industrial
$2.83M
$2.48M – $3.30M
NOI $198,265 @ 7.0% cap · market cap 4.96%
Theoretical Best
Specialty Retail
$8.63M
$7.55M – $10.07M
NOI $604,178 @ 7.0% cap · market cap 15.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
49
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48362, MI
15,001
Population
6,428
Households
2.3
Avg Household Size
42
Median Age
44%
College-Educated
98%
High-School Grad
10.1 sq mi
ZIP Area
1,485
Density / Sq Mi
$108,667
Median Household Income
$51,826
Median Earnings
$1,095
Median Rent
$313,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - 4 acre lot with room for additional development.
Where is this warehouse located?
The property is located at 118 Indianwood Rd Lake Orion Township, MI.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: 40,016 Sq ft industrial building; Situated on a 4 Acre Lot; Room for Additional development
