Howell Township Flex Warehouse
For Sale
$3,150,000
1800 N Burkhart Road, Howell, MI 48855
28,000 sq ft flex space near I-96/M-59 interchange.
Property Size28,272 SF
Price / SF$112.50
Days on Market106
Property Features for 1800 N Burkhart Road
General Information
Standard status
Active
Size
28,272 SF
Property subtype
Commercial
Zoning
Commercial
Taxes and HOA fees
Annual Taxes
$37,523
Building Details
Building Size
28,272 SF
Year Built
1972
Stories
2
Listing Agency:
KW Realty Livingston
(586) 709-0354
Listed By:
Scott Bohlen · License #6501305767
(586) 709-0354
Source:
Phgrealty
Added: May 11
Changed: Aug 23
Last Checked: Aug 24 at 12:37PM
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 KW Realty Livingston
Investment Insights
Based on property information with market context.
This 28,000 sq ft commercial flex space is located in Howell Township, minutes from the I-96/M59 interchange. The building features a mix of 26’ and 16’ ceiling heights, suitable for high-bay storage and activities requiring elevated ceiling heights. The Industrial Flex zoning allows a variety of permitted potential uses, with additional uses possible via a special use permit. Currently, the building includes a commercial kitchen. There are 54 parking spaces, with room for expansion. The property is somewhat bikeable with a bike score of 31 and car-dependent with a walk score of 21.
Key Highlights
- 28,000 sq ft commercial/warehouse/industrial flex space.
- Located minutes from the I‑96/M59 interchange.
- Mix of 26’ and 16’ ceiling heights suitable for high‑bay storage and other activities.
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
$174,565
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
5.54%
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%
$3,491,300
$3.5M
Cap Rate 7%
$2,493,786
$2.5M
Cap Rate 9%
$1,939,611
$1.9M
Market Conditions
NOI Build-Up for 28,000 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
$278.9K $9.96/SF
− Vacancy
−$10.3K −$0.37/SF
EGI
$268.6K $9.59/SF
− OpEx
−$94.0K −$3.36/SF
NOI
$174.6K $6.23/SF
Area
Livingston County, MI
Vacancy
3.70%
Lease Rate
$9.96 /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%
$3,491,300
Cap Rate 7%
$2,493,786
Cap Rate 9%
$1,939,611
Alternative Uses
Best Use
Flex RnD
$2.49M
$2.18M – $2.91M
NOI $174,565 @ 7.0% cap · market cap 5.54%
Second Best
Industrial
$2.43M
$2.12M – $2.83M
NOI $169,873 @ 7.0% cap · market cap 5.39%
Theoretical Best
Healthcare Medical
$4.46M
$3.90M – $5.20M
NOI $312,198 @ 7.0% cap · market cap 9.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
194
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48855, MI
16,656
Population
6,294
Households
2.6
Avg Household Size
42
Median Age
35%
College-Educated
96%
High-School Grad
91.1 sq mi
ZIP Area
183
Density / Sq Mi
$104,552
Median Household Income
$54,137
Median Earnings
$1,485
Median Rent
$317,200
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Sup Dogs LLC — 1475 N Burkhart Rd, Howell, MI 48855
Frequently Asked Questions
What type of property is this?
Flex space - 28,000 sq ft flex space near I-96/M-59 interchange.
Where is this flex space located?
The property is located at 1800 N Burkhart Road Howell, MI.
What is the asking price?
The asking price for this property is $3,150,000.
What are key features of this property?
This property features: 28,000 sq ft commercial/warehouse/industrial flex space.; Located minutes from the I‑96/M59 interchange.; Mix of 26’ and 16’ ceiling heights suitable for high‑bay storage and other activities.
