Warehouse for Sale or
For Sale
$1,995,000
18660 15 Mile Rd, Fraser, MI 48026
Industrial warehouse opportunity available for sale or lease on 15 Mile Rd in Fraser.
Property Size17,478 SF
Price / SF$114.14
Days on Market70
Property Features for 18660 15 Mile Rd
General Information
Standard status
Active
Size
17,478 SF
Property subtype
Industrial
Building Details
Building Size
17,478 SF
Year Built
1987
Listing Agency:
L. Mason Capitani, Inc.
(586) 212-5270
Listed By:
Jason Capitani, SIOR, CCIM · License #6502137804
(586) 212-5270
Source:
Corfac
Added: Jun 1
Changed: Aug 8
Last Checked: Jun 3 at 2:59AM
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 L. Mason Capitani, Inc.
Investment Insights
Based on property information with market context.
This listing presents an industrial warehouse offered for sale or lease, providing a straightforward option for businesses seeking a commercial space designed for warehouse operations. The property is marketed as a warehouse asset within the industrial real estate category.
Located at 18660 15 Mile Rd in Fraser, Michigan, the warehouse is positioned along 15 Mile Rd, supporting convenient access for users looking to serve local customers and support day-to-day distribution needs.
For tenants, this kind of property can be a practical fit for organizations that need dedicated warehouse space to store inventory and support logistics activities. For buyers, the availability for sale or lease can appeal to investors or operators exploring an industrial acquisition with flexible disposition options, depending on their leasing strategy and timeline.
Located at 18660 15 Mile Rd in Fraser, Michigan, the warehouse is positioned along 15 Mile Rd, supporting convenient access for users looking to serve local customers and support day-to-day distribution needs.
For tenants, this kind of property can be a practical fit for organizations that need dedicated warehouse space to store inventory and support logistics activities. For buyers, the availability for sale or lease can appeal to investors or operators exploring an industrial acquisition with flexible disposition options, depending on their leasing strategy and timeline.
Key Highlights
- 17,478 SF industrial warehouse for sale or lease
- Built in 1987
- Available on 15 Mile Rd in Fraser
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
$114,439
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
5.74%
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%
$2,288,780
$2.3M
Cap Rate 7%
$1,634,843
$1.6M
Cap Rate 9%
$1,271,544
$1.3M
Market Conditions
NOI Build-Up for 17,478 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
$142.6K $8.16/SF
− Vacancy
−$8.0K −$0.46/SF
EGI
$134.6K $7.70/SF
− OpEx
−$20.2K −$1.16/SF
NOI
$114.4K $6.55/SF
Area
Macomb County, MI
Vacancy
5.60%
Lease Rate
$8.16 /SF/Yr
Expense Ratio
15.00%
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%
$2,288,780
Cap Rate 7%
$1,634,843
Cap Rate 9%
$1,271,544
Alternative Uses
Best Use
Warehouse
$1.63M
$1.43M – $1.91M
NOI $114,439 @ 7.0% cap · market cap 5.74%
Second Best
Industrial
$1.35M
$1.18M – $1.57M
NOI $94,244 @ 7.0% cap · market cap 4.72%
Theoretical Best
Specialty Retail
$3.27M
$2.86M – $3.82M
NOI $229,051 @ 7.0% cap · market cap 11.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
364
Businesses Nearby
Under-served
Demand for This Use
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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Similar Off Market Nearby
- Baro Mini Storage LLC — 34464 Kelly Rd, Clinton Twp, MI 48035
- General Shredding — 17000 15 Mile Rd, Fraser, MI 48026
- Bulldog Records Management — 17000 15 Mile Rd, Fraser, MI 48026
- Extra Space Storage — 34244 Groesbeck Hwy, Clinton Twp, MI 48035
Frequently Asked Questions
What type of property is this?
Warehouse - Industrial warehouse opportunity available for sale or lease on 15 Mile Rd in Fraser.
Where is this warehouse located?
The property is located at 18660 15 Mile Rd Fraser, MI.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: 17,478 SF industrial warehouse for sale or lease; Built in 1987; Available on 15 Mile Rd in Fraser
