Industrial Warehouse with 5-Ton
For Sale
$6,500,000
11445 Stephens Rd, Warren, MI 48089
Industrial warehouse includes a 5-ton crane, oversized double truckwell, heavy power, offices, and a large paved fenced yard.
Property Size88,609 SF
Price / SF$73.36
Days on Market606
Property Features for 11445 Stephens Rd
General Information
Standard status
Active
Size
88,609 SF
Property subtype
Industrial
Zoning
M-2
Building Details
Building Size
88,609 SF
Year Built
1966
Buildings
1
Stories
1
Listing Agency:
Signature Associates - Southfield
Listed By:
Ben Wilkiemeyer · License #6501343766
(248) 359-0624
Source:
Cpix.resimplifi
Added: Jan 15, 2025
Changed: Aug 31
Last Checked: Sep 13 at 3:55AM
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 Signature Associates - Southfield
Investment Insights
Based on property information with market context.
This manufacturing and warehouse facility is built for heavy-duty operations, featuring a 5-ton crane and heavy power. The building includes offices intended to be finished to suit tenant needs, natural lighting throughout, and an oversized double truckwell for efficient loading.
The property also offers a large paved lot and a fenced yard, supporting outdoor staging, storage, or material handling needs.
With its combination of crane capacity, loading configuration, and utility service, the space is positioned for industrial uses requiring both warehouse functionality and operational flexibility.
The property also offers a large paved lot and a fenced yard, supporting outdoor staging, storage, or material handling needs.
With its combination of crane capacity, loading configuration, and utility service, the space is positioned for industrial uses requiring both warehouse functionality and operational flexibility.
Key Highlights
- 1966‑built industrial/manufacturing warehouse facility
- 5‑ton crane included in the warehouse
- Oversized double truckwell for loading and unloading
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
$552,757
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
8.50%
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%
$11,055,140
$11.1M
Cap Rate 7%
$7,896,529
$7.9M
Cap Rate 9%
$6,141,744
$6.1M
Market Conditions
NOI Build-Up for 88,609 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
$680.5K $7.68/SF
− Vacancy
−$30.2K −$0.34/SF
EGI
$650.3K $7.34/SF
− OpEx
−$97.5K −$1.10/SF
NOI
$552.8K $6.24/SF
Area
Warren, MI
Vacancy
4.44%
Lease Rate
$7.68 /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%
$11,055,140
Cap Rate 7%
$7,896,529
Cap Rate 9%
$6,141,744
Alternative Uses
Best Use
Warehouse
$7.90M
$6.91M – $9.21M
NOI $552,757 @ 7.0% cap · market cap 8.50%
Second Best
Industrial
$6.50M
$5.69M – $7.59M
NOI $455,212 @ 7.0% cap · market cap 7.00%
Theoretical Best
Office A
$19.55M
$17.10M – $22.81M
NOI $1,368,324 @ 7.0% cap · market cap 21.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
499
Businesses Nearby
Explore this area
Business Placement
Demographics for 48089, MI
32,012
Population
13,597
Households
2.4
Avg Household Size
35
Median Age
11%
College-Educated
83%
High-School Grad
8.0 sq mi
ZIP Area
4,002
Density / Sq Mi
$53,076
Median Household Income
$35,786
Median Earnings
$1,187
Median Rent
$117,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Industrial warehouse includes a 5-ton crane, oversized double truckwell, heavy power, offices, and a large paved fenced yard.
Where is this manufacturing property located?
The property is located at 11445 Stephens Rd Warren, MI.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: 1966‑built industrial/manufacturing warehouse facility; 5‑ton crane included in the warehouse; Oversized double truckwell for loading and unloading
