Building Details

Building Size 10,990 SF

Year Built 1955

Listing Agency: P.A. Commercial Corporate & Investment Real Estate

Listed By: John Arthurs · License #6501222941 Show Phone

Source: Thebrokerlist

Added: Jul 15 Changed: Oct 4 Last Checked: Oct 5 at 3:04PM

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Investment Insights

Based on property information with market context.

This industrial land offering comprises 2.29 acres arranged across two parcels, with approximately 200 feet by 500 feet of land. An existing office building constructed in 1955 is included, and the property is served by city utilities. M-2 zoning permits a broad range of commercial and industrial uses.

The site is positioned between a Sheetz property along the north boundary and a Clean Express Car Wash along the south boundary. The offering includes 28800 Mound Road, totaling 1.61 acres, and 28820 Mound Road, totaling 0.69 acres. An additional 1.5 acres to the rear is also available for purchase. The property is located on Mound Road in Warren, Michigan, with reported daily traffic exceeding 44,000 vehicles.

Key Highlights

• 2.29 acres of industrial land across two parcels
• Approximately 200' × 500' of land
• M‑2 zoning supports a wide range of commercial and industrial uses

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$118,241

Cap Rate

3.03%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,364,820 $2.4M

Cap Rate 7%

$1,689,157 $1.7M

Cap Rate 9%

$1,313,789 $1.3M

Market Conditions

NOI Build-Up for 10,990 SF

Gross rent

$179.4K $16.32/SF

− Vacancy

−$21.7K −$1.97/SF

EGI

$157.7K $14.35/SF

− OpEx

−$39.4K −$3.59/SF

NOI

$118.2K $10.76/SF

Area

Warren, MI

Vacancy

12.10%

Lease Rate

$16.32 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,364,820

Cap Rate 7%

$1,689,157

Cap Rate 9%

$1,313,789

Alternative Uses

Best Use

Office B

$1.69M

$1.48M – $1.97M (±1% cap)

NOI $118,241 @ 7.0% cap · market cap 3.03%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$2.42M

$2.12M – $2.83M (±1% cap)

NOI $169,711 @ 7.0% cap · market cap 4.35%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Commercial land

Suggested Use

Top Pick Real Estate Agency Dental Office Building Supply Big Box & Wholesale Store Law Firm Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

329

Businesses Nearby

Explore this area Business Placement

Demographics for 48092, MI

27,186

Population

11,052

Households

2.5

Avg Household Size

42

Median Age

27%

College-Educated

86%

High-School Grad

8.1 sq mi

ZIP Area

3,356

Density / Sq Mi

$71,761

Median Household Income

$40,174

Median Earnings

$1,186

Median Rent

$205,300

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this industrial land located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Industrial land - M-2 zoning and city utilities support a range of commercial and industrial uses.

Where is this industrial land located?

The property is located at 28800-28820 Mound Road Warren, MI.

What is the asking price?

The asking price for this property is $3,900,000.

What are key features of this property?

This property features: 2.29 acres of industrial land across two parcels; Approximately 200' × 500' of land; M‑2 zoning supports a wide range of commercial and industrial uses