Freestanding Industrial Manufacturing
For Sale
$2,875,000
29585 Costello Dr, New Hudson, MI 48165
Freestanding industrial building with 200 amp power, 16' ceiling height, and a drive-in door measuring 12' x 14'.
Property Size26,842 SF
Price / SF$107.11
Days on Market736
Property Features for 29585 Costello Dr
General Information
Standard status
Active
Size
26,842 SF
Property subtype
Industrial
Zoning
NH-E
Warehouse & Industrial
Clear Height
16 ft
Drive-In Doors
8
Building Details
Building Size
26,842 SF
Buildings
1
Stories
1
Listing Agency:
Thomas A. Duke Company
Listed By:
Mark W. Szerlag · License #6502342846
(248) 476-3700
Source:
Cpix.resimplifi
Added: Oct 15, 2024
Changed: Oct 15
Last Checked: Oct 19 at 3:12AM
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 A. Duke Company
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This freestanding industrial/manufacturing building is well-suited for light industrial operations, with 200 amp power service and a 16' ceiling height. The facility includes a drive-in door with dimensions of 12' x 14', supporting straightforward loading and movement of equipment and materials.
The property is located on the west side of Costello Drive, south off of Grand River and east of Milford Road in Lyon Township. It presents a standalone configuration designed for dedicated use within the immediate site.
With its drive-in access and functional clear height, the building offers practical support for manufacturing or industrial distribution uses that benefit from direct loading.
The property is located on the west side of Costello Drive, south off of Grand River and east of Milford Road in Lyon Township. It presents a standalone configuration designed for dedicated use within the immediate site.
With its drive-in access and functional clear height, the building offers practical support for manufacturing or industrial distribution uses that benefit from direct loading.
Key Highlights
- Free‑standing industrial/manufacturing building in Lyon Township, MI
- Drive‑in door measures 12' x 14' with drive‑in access
- Ceiling height of 16' for industrial clear height
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$132,992
Cap Rate
4.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,659,840
$2.7M
Cap Rate 7%
$1,899,886
$1.9M
Cap Rate 9%
$1,477,689
$1.5M
Market Conditions
NOI Build-Up for 26,842 SF
Gross rent
$197.3K $7.35/SF
− Vacancy
−$7.3K −$0.27/SF
EGI
$190.0K $7.08/SF
− OpEx
−$57.0K −$2.12/SF
NOI
$133.0K $4.95/SF
Area
Oakland County, MI
Vacancy
3.70%
Lease Rate
$7.35 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,659,840
Cap Rate 7%
$1,899,886
Cap Rate 9%
$1,477,689
Alternative Uses
Best Use
Industrial
$1.90M
$1.66M – $2.22M
NOI $132,992 @ 7.0% cap · market cap 4.63%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.79M
$5.07M – $6.75M
NOI $405,271 @ 7.0% cap · market cap 14.10%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
16 ft
Clear height
8
Drive-in doors
Location Intelligence
Trade Area within ½ mile
343
Businesses Nearby
Explore this area
Business Placement
Demographics for 48165, MI
8,832
Population
3,587
Households
2.5
Avg Household Size
37
Median Age
51%
College-Educated
95%
High-School Grad
9.9 sq mi
ZIP Area
892
Density / Sq Mi
$105,511
Median Household Income
$59,609
Median Earnings
$1,583
Median Rent
$352,300
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Manufacturing property - Freestanding industrial building with 200 amp power, 16' ceiling height, and a drive-in door measuring 12' x 14'.
Where is this manufacturing property located?
The property is located at 29585 Costello Dr New Hudson, MI.
What is the asking price?
The asking price for this property is $2,875,000.
What are key features of this property?
This property features: Free‑standing industrial/manufacturing building in Lyon Township, MI; Drive‑in door measures 12' x 14' with drive‑in access; Ceiling height of 16' for industrial clear height
