Listed By: Dave Hesano Show Phone

Source: Cbre

Added: Mar 25 Changed: Oct 6 Last Checked: Oct 5 at 4:04PM

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Investment Insights

Based on property information with market context.

This commercial real estate offering features a 73,335 square-foot property suitable for warehouse and industrial use. Located in Northville, Michigan, the property presents a potential opportunity for businesses seeking a sizable facility.

Key Highlights

• 73,335 SF warehouse/industrial property
• Located in Northville, Michigan
• Warehouse property

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$461,018

Cap Rate

4.09%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$9,220,360 $9.2M

Cap Rate 7%

$6,585,971 $6.6M

Cap Rate 9%

$5,122,422 $5.1M

Market Conditions

NOI Build-Up for 73,335 SF

Gross rent

$563.2K $7.68/SF

− Vacancy

−$20.8K −$0.28/SF

EGI

$542.4K $7.40/SF

− OpEx

−$81.4K −$1.11/SF

NOI

$461.0K $6.29/SF

Area

Wayne County, MI

Vacancy

3.70%

Lease Rate

$7.68 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$9,220,360

Cap Rate 7%

$6,585,971

Cap Rate 9%

$5,122,422

Alternative Uses

Best Use

Warehouse

$6.59M

$5.76M – $7.68M (±1% cap)

NOI $461,018 @ 7.0% cap · market cap 4.09%

Second Best

Industrial

$5.42M

$4.75M – $6.33M (±1% cap)

NOI $379,662 @ 7.0% cap · market cap 3.37%

Theoretical Best

Specialty Retail

$13.58M

$11.88M – $15.84M (±1% cap)

NOI $950,422 @ 7.0% cap · market cap 8.42%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Warehouses

Suggested Use

Top Pick Dental Office Law Firm HVAC Service Real Estate Agency Hair Salon Auto Parts Store

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

248

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 48168, MI

24,517

Population

9,277

Households

2.6

Avg Household Size

45

Median Age

72%

College-Educated

98%

High-School Grad

19.6 sq mi

ZIP Area

1,251

Density / Sq Mi

$173,671

Median Household Income

$92,463

Median Earnings

$2,248

Median Rent

$546,300

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

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this warehouses 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?

Warehouse - 73,335 SF warehouse/industrial property available in Northville, Michigan.

Where is this warehouse located?

The property is located at 15800 Centennial Drive Northville, MI.

What is the asking price?

The asking price for this property is $11,282,000.

What are key features of this property?

This property features: 73,335 SF warehouse/industrial property; Located in Northville, Michigan; Warehouse property