Industrial Warehouse on 1.98
For Sale
Contact for pricing
30101 Lyon Ridge Dr, South Lyon, MI 48178
Industrial warehouse on 1.98 acres, possible redevelopment opportunity.
Property Size3,947 SF
Lot Size1.98 Acres
Price / SF$152.01
Days on Market473
Property Features for 30101 Lyon Ridge Dr
General Information
Standard status
Active
Size
3,947 SF
Lot size
1.98 Acres
Property subtype
Industrial, Land
Zoning
New Hudson Edge
Building Details
Year Built
1983
Stories
1
Listing Agency:
Thomas Duke Company
(248) 476-3700
Listed By:
Mark Szerlag · License #MI 6502342846
Source:
Crexi
Added: May 6, 2025
Changed: Aug 16
Last Checked: Aug 19 at 10:47PM
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 Duke Company
Investment Insights
Based on property information with market context.
This property features an industrial warehouse building situated on approximately 1.98 acres. The building has a size of 3947 square feet. The property presents a possible redevelopment opportunity.
Key Highlights
- 1.98+/- acre property
- Possible redevelopment opportunity
- Industrial warehouse building on‑site
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
$23,747
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
3.96%
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%
$474,940
$474.9K
Cap Rate 7%
$339,243
$339.2K
Cap Rate 9%
$263,856
$263.9K
Market Conditions
NOI Build-Up for 3,947 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
$29.0K $7.35/SF
− Vacancy
−$1.1K −$0.27/SF
EGI
$27.9K $7.08/SF
− OpEx
−$4.2K −$1.06/SF
NOI
$23.7K $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 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%
$474,940
Cap Rate 7%
$339,243
Cap Rate 9%
$263,856
Alternative Uses
Best Use
Warehouse
$339.2K
$296.8K – $395.8K
NOI $23,747 @ 7.0% cap · market cap 3.96%
Second Best
Industrial
$279.4K
$244.5K – $325.9K
NOI $19,556 @ 7.0% cap · market cap 3.26%
Theoretical Best
Specialty Retail
$851.3K
$744.9K – $993.2K
NOI $59,593 @ 7.0% cap · market cap 9.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
50
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 48178, MI
36,858
Population
14,402
Households
2.6
Avg Household Size
42
Median Age
53%
College-Educated
98%
High-School Grad
48.0 sq mi
ZIP Area
768
Density / Sq Mi
$130,781
Median Household Income
$70,253
Median Earnings
$1,231
Median Rent
$392,300
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?
Warehouse - Industrial warehouse on 1.98 acres, possible redevelopment opportunity.
Where is this warehouse located?
The property is located at 30101 Lyon Ridge Dr South Lyon, MI.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 1.98+/- acre property; Possible redevelopment opportunity; Industrial warehouse building on‑site
