Multi-Building Truck Terminal with
For Sale
$6,000,000
1475 S Newburgh Rd, Westland, MI 48186
Multi-building industrial truck terminal with warehouse space, a five-bay repair facility, and paved parking for fleets.
Property Size22,300 SF
Price / SF$269.06
Days on Market95
Property Features for 1475 S Newburgh Rd
General Information
Standard status
Active
Size
22,300 SF
Total Parking Spaces
70
Additional Details
Service Bays
5
Building Details
Year Built
1974
Listing Agency:
Community Choice Realty Inc
Listed By:
Amrinder Singh
(260) 479-8602
Source:
Katie-k
Added: Jun 30
Changed: Sep 12
Last Checked: Oct 1 at 3:52PM
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 Community Choice Realty Inc
Investment Insights
Based on property information with market context.
This for-sale industrial truck terminal asset is built on a single site and designed to support fleet and transportation operations. The property includes a brand-new warehouse and a dedicated truck repair facility with five service bays. A separate truck parts store building provides two offices, a break room, and updated restrooms, along with parts storage areas configured for day-to-day support needs. Outdoor operations are supported by extensive paved truck and trailer parking.
The site offers substantial capacity for fleet storage and maneuvering, with paved parking accommodating approximately 60 to 70 truck/trailer units. The overall layout is intended to support industrial outdoor storage (IOS) and transportation-related maintenance and parts servicing as part of a consolidated operations footprint.
The property is well-suited for an owner-user fleet service company, a logistics provider, or an investor seeking a multi-purpose industrial setup. The combination of warehouse space, repair bays, and an on-site parts building supports service, maintenance, and parts workflows in one location. While the offering is for real estate sale only, the remarks indicate that the truck spare parts shop can be sold as a running business with equipment and inventory for an additional price, if a buyer is interested.
The site offers substantial capacity for fleet storage and maneuvering, with paved parking accommodating approximately 60 to 70 truck/trailer units. The overall layout is intended to support industrial outdoor storage (IOS) and transportation-related maintenance and parts servicing as part of a consolidated operations footprint.
The property is well-suited for an owner-user fleet service company, a logistics provider, or an investor seeking a multi-purpose industrial setup. The combination of warehouse space, repair bays, and an on-site parts building supports service, maintenance, and parts workflows in one location. While the offering is for real estate sale only, the remarks indicate that the truck spare parts shop can be sold as a running business with equipment and inventory for an additional price, if a buyer is interested.
Key Highlights
- 1974 multi‑building industrial truck terminal with a 10,500 SF warehouse
- Truck repair facility with five service bays for fleet maintenance and repairs
- Dedicated truck parts store building with two offices, break room, and updated restrooms
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
$211,297
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
3.52%
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%
$4,225,940
$4.2M
Cap Rate 7%
$3,018,529
$3.0M
Cap Rate 9%
$2,347,744
$2.3M
Market Conditions
NOI Build-Up for 22,300 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
$321.1K $14.40/SF
− Vacancy
−$19.3K −$0.86/SF
EGI
$301.9K $13.54/SF
− OpEx
−$90.6K −$4.06/SF
NOI
$211.3K $9.48/SF
Area
Wayne County, MI
Vacancy
6.00%
Lease Rate
$14.40 /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%
$4,225,940
Cap Rate 7%
$3,018,529
Cap Rate 9%
$2,347,744
Alternative Uses
Best Use
Retail
$3.02M
$2.64M – $3.52M
NOI $211,297 @ 7.0% cap · market cap 3.52%
Second Best
Warehouse
$2.00M
$1.75M – $2.34M
NOI $140,188 @ 7.0% cap · market cap 2.34%
Theoretical Best
Specialty Retail
$4.13M
$3.61M – $4.82M
NOI $289,008 @ 7.0% cap · market cap 4.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
5
Service bays
Location Intelligence
Trade Area within ½ mile
179
Businesses Nearby
Explore this area
Business Placement
Demographics for 48186, MI
35,690
Population
14,543
Households
2.5
Avg Household Size
39
Median Age
19%
College-Educated
88%
High-School Grad
8.3 sq mi
ZIP Area
4,300
Density / Sq Mi
$67,203
Median Household Income
$37,591
Median Earnings
$1,083
Median Rent
$167,600
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Truck terminal - Multi-building industrial truck terminal with warehouse space, a five-bay repair facility, and paved parking for fleets.
Where is this truck terminal located?
The property is located at 1475 S Newburgh Rd Westland, MI.
What is the asking price?
The asking price for this property is $6,000,000.
What are key features of this property?
This property features: 1974 multi‑building industrial truck terminal with a 10,500 SF warehouse; Truck repair facility with five service bays for fleet maintenance and repairs; Dedicated truck parts store building with two offices, break room, and updated restrooms
