Flex Space With
New
For Sale
$2,000,000
12021 Universal Dr, Taylor, MI 48180
Combined warehouse and office configuration supports varied commercial operations.
Property Size20,000 SF
Price / SF$100
Days on Market6
Property Features for 12021 Universal Dr
General Information
Standard status
Active
Size
20,000 SF
Property subtype
Industrial
Warehouse & Industrial
Warehouse Space
19,200 SF
Office Build-Out
800 SF
Listing Agency:
Detroit
(248) 226-1814
Listed By:
Jim Roberts
(248) 226-1814
Source:
Colliers
Added: Aug 12
Changed: Aug 14
Last Checked: Aug 16 at 3:02AM
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 Detroit
Investment Insights
Based on property information with market context.
This flex property combines 19,200 square feet of warehouse area with 800 square feet of office space, creating a practical mix of industrial and administrative functions. The total available area is 20,000 square feet.
The property is located at 12021 Universal Dr in Taylor, Michigan 48180.
The property is located at 12021 Universal Dr in Taylor, Michigan 48180.
Key Highlights
- 20,000 SF total available area
- 19,200 SF of warehouse space
- 800 SF of office space
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
$126,192
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
6.31%
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%
$2,523,840
$2.5M
Cap Rate 7%
$1,802,743
$1.8M
Cap Rate 9%
$1,402,133
$1.4M
Market Conditions
NOI Build-Up for 20,000 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
$201.6K $10.08/SF
− Vacancy
−$7.5K −$0.37/SF
EGI
$194.1K $9.71/SF
− OpEx
−$67.9K −$3.40/SF
NOI
$126.2K $6.31/SF
Area
Wayne County, MI
Vacancy
3.70%
Lease Rate
$10.08 /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%
$2,523,840
Cap Rate 7%
$1,802,743
Cap Rate 9%
$1,402,133
Alternative Uses
Best Use
Flex RnD
$1.80M
$1.58M – $2.10M
NOI $126,192 @ 7.0% cap · market cap 6.31%
Second Best
Warehouse
$1.80M
$1.57M – $2.10M
NOI $125,729 @ 7.0% cap · market cap 6.29%
Theoretical Best
Specialty Retail
$3.70M
$3.24M – $4.32M
NOI $259,200 @ 7.0% cap · market cap 12.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
343
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48180, MI
63,409
Population
26,741
Households
2.4
Avg Household Size
39
Median Age
16%
College-Educated
87%
High-School Grad
23.6 sq mi
ZIP Area
2,687
Density / Sq Mi
$59,537
Median Household Income
$40,090
Median Earnings
$1,036
Median Rent
$141,200
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Combined warehouse and office configuration supports varied commercial operations.
Where is this flex space located?
The property is located at 12021 Universal Dr Taylor, MI.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: 20,000 SF total available area; 19,200 SF of warehouse space; 800 SF of office space
