Industrial Building with
For Sale
$2,450,000
450 S Glaspie, Oxford, MI 48370
Industrial building offers 20' clear ceiling height, clear-span layout, and fenced, secured, lit outdoor storage.
Property Size15,661 SF
Lot Size2.50 Acres
Price / SF$156.44
Days on Market153
Property Features for 450 S Glaspie
General Information
Standard status
Active
Size
15,661 SF
Total Parking Spaces
40
Lot size
2.50 Acres
Property subtype
Industrial
Zoning
I1 Light Industrial
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Height
20 ft
Drive-In Doors
4
Heavy Power
Yes
Amenities
fenced secured lit outside storage
LED lighting
radiant heat
air lines
accent lighting
video monitoring
security alarm
secure storage room
Building Details
Building Size
15,661 SF
Year Built
1998
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 5:14PM
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.
A 15,661 SF industrial building available for sale in Oxford, Michigan, situated on approximately 2.5 acres of fenced, secured, and lit outside storage. The facility includes four 14' high drive-in doors and one truck well, supporting practical loading and storage operations.
The warehouse area features clear span construction with no columns and 20' clear ceiling height, with LED lighting, radiant heat, and air lines. Electrical service is listed as 600A, 240V, 3-phase.
Office space is finished with epoxy floors and includes a large reception area, an approximately 1,000 SF open area that can function as a showroom or collaborative space, plus three private offices. The building also references enhanced systems from a former dispensary, including accent lighting, video monitoring, a security alarm, and a secure storage room, and original floor plans are available.
The warehouse area features clear span construction with no columns and 20' clear ceiling height, with LED lighting, radiant heat, and air lines. Electrical service is listed as 600A, 240V, 3-phase.
Office space is finished with epoxy floors and includes a large reception area, an approximately 1,000 SF open area that can function as a showroom or collaborative space, plus three private offices. The building also references enhanced systems from a former dispensary, including accent lighting, video monitoring, a security alarm, and a secure storage room, and original floor plans are available.
Key Highlights
- 15,661 SF industrial building on 2.5 acres in Oxford
- 20' clear ceiling height with clear‑span interior (no columns)
- Outside storage is fenced, secured, and lit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$161,979
Cap Rate
6.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,239,580
$3.2M
Cap Rate 7%
$2,313,986
$2.3M
Cap Rate 9%
$1,799,767
$1.8M
Market Conditions
NOI Build-Up for 15,661 SF
Gross rent
$281.9K $18.00/SF
− Vacancy
−$32.7K −$2.09/SF
EGI
$249.2K $15.91/SF
− OpEx
−$87.2K −$5.57/SF
NOI
$162.0K $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%
$3,239,580
Cap Rate 7%
$2,313,986
Cap Rate 9%
$1,799,767
Alternative Uses
Best Use
Flex RnD
$2.31M
$2.02M – $2.70M
NOI $161,979 @ 7.0% cap · market cap 6.61%
Second Best
Industrial
$1.11M
$969.9K – $1.29M
NOI $77,595 @ 7.0% cap · market cap 3.17%
Theoretical Best
Specialty Retail
$3.38M
$2.96M – $3.94M
NOI $236,456 @ 7.0% cap · market cap 9.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
20 ft
Clear height
4
Drive-in doors
Yes
Heavy power
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
486
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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 - Industrial building offers 20' clear ceiling height, clear-span layout, and fenced, secured, lit outdoor storage.
Where is this flex space located?
The property is located at 450 S Glaspie Oxford, MI.
What is the asking price?
The asking price for this property is $2,450,000.
What are key features of this property?
This property features: 15,661 SF industrial building on 2.5 acres in Oxford; 20' clear ceiling height with clear‑span interior (no columns); Outside storage is fenced, secured, and lit
