Updated Industrial Building with
For Sale
$1,665,000
850 S Glaspie St, Oxford, MI 48370
Updated industrial facility with office buildout, epoxy floors, floor drains, LED lighting, and 18' clear ceilings.
Property Size10,051 SF
Price / SF$165.66
Days on Market153
Property Features for 850 S Glaspie St
General Information
Standard status
Active
Size
10,051 SF
Total Parking Spaces
29
Property subtype
Industrial
Zoning
I1
Warehouse & Industrial
Clear Height
18 ft
Heavy Power
Yes
Building Details
Building Size
10,051 SF
Year Built
1974
Year Renovated
2023
Listing Agency:
Friedman Real Estate
Listed By:
Larry Schultz
(248) 867-2399
Source:
Friedmanrealestate
Added: May 7
Changed: Sep 10
Last Checked: Oct 5 at 5:12PM
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 Friedman Real Estate
Investment Insights
Based on property information with market context.
Updated industrial building for sale with recent exterior and interior improvements, including a new parking lot with curbs and sidewalk, plus an underground detention basin. Interior updates include epoxy and LVP flooring, fresh paint, and HVAC.
The property includes an office area with three private rooms, a kitchen/break room, about 1,200 SF of open office/showroom space, a new reception area, and a lab/store room. The warehouse portion features new epoxy floors, floor drains, LED lighting, gas-fired forced-air heat (GFA), and approximately 18' clear ceilings. Electrical includes 1,000A 240V 3-phase power.
Security features include cameras, alarms, and reinforced doors. Public remarks also note that the former MJ dispensary underwent major renovations about three years ago.
The property includes an office area with three private rooms, a kitchen/break room, about 1,200 SF of open office/showroom space, a new reception area, and a lab/store room. The warehouse portion features new epoxy floors, floor drains, LED lighting, gas-fired forced-air heat (GFA), and approximately 18' clear ceilings. Electrical includes 1,000A 240V 3-phase power.
Security features include cameras, alarms, and reinforced doors. Public remarks also note that the former MJ dispensary underwent major renovations about three years ago.
Key Highlights
- 10,051 SF updated industrial building for sale in Oxford
- Office buildout includes 3 private offices, kitchen/break room, and new reception area
- 1,200 SF open office/showroom plus lab/store room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$103,955
Cap Rate
6.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,079,100
$2.1M
Cap Rate 7%
$1,485,071
$1.5M
Cap Rate 9%
$1,155,056
$1.2M
Market Conditions
NOI Build-Up for 10,051 SF
Gross rent
$180.9K $18.00/SF
− Vacancy
−$21.0K −$2.09/SF
EGI
$159.9K $15.91/SF
− OpEx
−$56.0K −$5.57/SF
NOI
$104.0K $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%
$2,079,100
Cap Rate 7%
$1,485,071
Cap Rate 9%
$1,155,056
Alternative Uses
Best Use
Flex RnD
$1.49M
$1.30M – $1.73M
NOI $103,955 @ 7.0% cap · market cap 6.24%
Second Best
Warehouse
$863.9K
$755.9K – $1.01M
NOI $60,470 @ 7.0% cap · market cap 3.63%
Theoretical Best
Specialty Retail
$2.17M
$1.90M – $2.53M
NOI $151,754 @ 7.0% cap · market cap 9.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
18 ft
Clear height
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
395
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48370, MI
1,741
Population
611
Households
2.8
Avg Household Size
47
Median Age
48%
College-Educated
95%
High-School Grad
11.0 sq mi
ZIP Area
158
Density / Sq Mi
$121,417
Median Household Income
$41,898
Median Earnings
$393,400
Median Home Value
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View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - Updated industrial facility with office buildout, epoxy floors, floor drains, LED lighting, and 18' clear ceilings.
Where is this flex space located?
The property is located at 850 S Glaspie St Oxford, MI.
What is the asking price?
The asking price for this property is $1,665,000.
What are key features of this property?
This property features: 10,051 SF updated industrial building for sale in Oxford; Office buildout includes 3 private offices, kitchen/break room, and new reception area; 1,200 SF open office/showroom plus lab/store room
