Multi-Tenant Flex
New
For Sale
$1,999,000
1438 N Crooks Rd, Clawson, MI 48017
Warehouse and office components provide adaptable space for multiple commercial users.
Property Size15,000 SF
Price / SF$133.27
Days on Market2
Property Features for 1438 N Crooks Rd
General Information
Standard status
Active
Size
15,000 SF
Property subtype
Industrial - Flex - Industrial
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Clear Height
20 ft
Warehouse Space
10,000 SF
Office Build-Out
5,000 SF
Mezzanine
5,000 SF
Building Details
Building Size
15,000 SF
Year Built
1967
Units
14
Tenancy
Multi
Listing Agency:
P.A. Commercial
Listed By:
Mark Mamassian
Source:
Commercialcafe
Added: Aug 15
Changed: Aug 16
Last Checked: Aug 16 at 6:13AM
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 P.A. Commercial
Investment Insights
Based on property information with market context.
This 15,000-square-foot flex property combines warehouse and office space in a multi-tenant configuration. The warehouse area includes 20-foot clear heights, seven overhead doors, secure vehicle storage, and a mezzanine, while the office component is arranged among multiple suites. Eight tenants currently occupy the property, predominantly under month-to-month leases. Built in 1967, the building has also received recent capital improvements, including a newer parking lot.
Located at 1438 N. Crooks Road in Clawson, the property sits along Crooks Road south of Maple Road in an established commercial area. The site is near Troy Motor Mall, restaurants, shopping, office and medical uses, and is one mile from Somerset Collection. I-75 access is approximately two miles away, while Crooks Road carries more than 30,000 vehicles daily.
Located at 1438 N. Crooks Road in Clawson, the property sits along Crooks Road south of Maple Road in an established commercial area. The site is near Troy Motor Mall, restaurants, shopping, office and medical uses, and is one mile from Somerset Collection. I-75 access is approximately two miles away, while Crooks Road carries more than 30,000 vehicles daily.
Key Highlights
- 15,000 SF multi‑tenant flex property
- 20‑foot clear heights in the warehouse area
- Seven overhead doors and secure vehicle storage
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
$155,142
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
7.76%
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%
$3,102,840
$3.1M
Cap Rate 7%
$2,216,314
$2.2M
Cap Rate 9%
$1,723,800
$1.7M
Market Conditions
NOI Build-Up for 15,000 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
$270.0K $18.00/SF
− Vacancy
−$31.3K −$2.09/SF
EGI
$238.7K $15.91/SF
− OpEx
−$83.5K −$5.57/SF
NOI
$155.1K $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 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%
$3,102,840
Cap Rate 7%
$2,216,314
Cap Rate 9%
$1,723,800
Alternative Uses
Best Use
Flex RnD
$2.22M
$1.94M – $2.59M
NOI $155,142 @ 7.0% cap · market cap 7.76%
Second Best
Warehouse
$1.29M
$1.13M – $1.50M
NOI $90,245 @ 7.0% cap · market cap 4.51%
Theoretical Best
Specialty Retail
$3.24M
$2.83M – $3.77M
NOI $226,476 @ 7.0% cap · market cap 11.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20 ft
Clear height
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
541
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48017, MI
11,353
Population
5,827
Households
1.9
Avg Household Size
39
Median Age
44%
College-Educated
97%
High-School Grad
2.2 sq mi
ZIP Area
5,160
Density / Sq Mi
$86,935
Median Household Income
$62,650
Median Earnings
$1,255
Median Rent
$251,600
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- National Coney Island — 1331 W Maple Rd, Clawson, MI 48017
Frequently Asked Questions
What type of property is this?
Flex space - Warehouse and office components provide adaptable space for multiple commercial users.
Where is this flex space located?
The property is located at 1438 N Crooks Rd Clawson, MI.
What is the asking price?
The asking price for this property is $1,999,000.
What are key features of this property?
This property features: 15,000 SF multi‑tenant flex property; 20‑foot clear heights in the warehouse area; Seven overhead doors and secure vehicle storage
