Manufacturing Building with Multiple
For Sale
$1,875,000
31375 Fraser Dr, Fraser, MI 48026
Manufacturing facility features crane coverage, multiple grade-level doors, and 16 to 22-foot clear heights.
Property Size23,592 SF
Price / SF$79.48
Days on Market93
Property Features for 31375 Fraser Dr
General Information
Standard status
Active
Size
23,592 SF
Property subtype
Industrial
Zoning
IR - Industrial Restricted
Lease Type
NNN
Warehouse & Industrial
Clear Height
22 ft
Drive-In Doors
3
Heavy Power
Yes
Building Details
Building Size
23,592 SF
Year Built
1971
Listing Agency:
Friedman Real Estate
Listed By:
Zach Cummings
(240) 361-8988
Source:
Friedmanrealestate
Added: Jun 2
Changed: Aug 8
Last Checked: Sep 1 at 4:06PM
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.
This manufacturing building includes an attached 2,750 SF two-story office and a 1,400 SF bonus mezzanine within the shop area, noted as not included in the total square footage. The shop provides crane coverage with (3) 5-ton cranes and (1) 10-ton crane. Electrical service is listed as 480V, 3-phase, with 2,800 amps, along with bus ducts and airlines throughout the space.
The facility offers 16'–22' clear height and three grade-level doors, including (2) 12x14 doors and (1) 14x14 door. The property is available for lease or for sale.
The facility offers 16'–22' clear height and three grade-level doors, including (2) 12x14 doors and (1) 14x14 door. The property is available for lease or for sale.
Key Highlights
- 23,592 SF manufacturing building built in 1971, available for lease or sale
- Crane coverage includes (3) 5‑ton cranes and (1) 10‑ton crane
- 480V 3‑phase power with 2,800 amps, plus transformer, bus ducts, and airlines throughout
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
$127,211
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
6.78%
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%
$2,544,220
$2.5M
Cap Rate 7%
$1,817,300
$1.8M
Cap Rate 9%
$1,413,456
$1.4M
Market Conditions
NOI Build-Up for 23,592 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
$192.5K $8.16/SF
− Vacancy
−$10.8K −$0.46/SF
EGI
$181.7K $7.70/SF
− OpEx
−$54.5K −$2.31/SF
NOI
$127.2K $5.39/SF
Area
Macomb County, MI
Vacancy
5.60%
Lease Rate
$8.16 /SF/Yr
Expense Ratio
30.00%
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%
$2,544,220
Cap Rate 7%
$1,817,300
Cap Rate 9%
$1,413,456
Alternative Uses
Best Use
Industrial
$1.82M
$1.59M – $2.12M
NOI $127,211 @ 7.0% cap · market cap 6.78%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.42M
$3.86M – $5.15M
NOI $309,176 @ 7.0% cap · market cap 16.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
22 ft
Clear height
3
Drive-in doors
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
561
Businesses Nearby
Explore this area
Business Placement
Demographics for 48026, MI
14,726
Population
6,778
Households
2.2
Avg Household Size
44
Median Age
21%
College-Educated
91%
High-School Grad
4.1 sq mi
ZIP Area
3,592
Density / Sq Mi
$61,118
Median Household Income
$40,198
Median Earnings
$827
Median Rent
$193,600
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?
Manufacturing property - Manufacturing facility features crane coverage, multiple grade-level doors, and 16 to 22-foot clear heights.
Where is this manufacturing property located?
The property is located at 31375 Fraser Dr Fraser, MI.
What is the asking price?
The asking price for this property is $1,875,000.
What are key features of this property?
This property features: 23,592 SF manufacturing building built in 1971, available for lease or sale; Crane coverage includes (3) 5‑ton cranes and (1) 10‑ton crane; 480V 3‑phase power with 2,800 amps, plus transformer, bus ducts, and airlines throughout
