Clinton Township Warehouse For
For Sale
Contact for pricing
21338 Carlo Dr, Clinton Township, MI 48038
24,276 sqft warehouse available for purchase in Clinton Township.
Property Size24,276 SF
Price / SF$98.25
Days on Market711
Property Features for 21338 Carlo Dr
General Information
Standard status
Active
Size
24,276 SF
Total Parking Spaces
38
Property subtype
Industrial
Zoning
Light Industrial
Lease Type
NNN
Building Details
Year Built
1989
Listing Agency:
CBRE - Detroit
(248) 351-2060
Listed By:
Lauren Scarpace · License #MI 6502409106
Source:
Crexi
Added: Sep 20, 2024
Changed: Aug 14
Last Checked: Aug 30 at 9:01PM
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 CBRE - Detroit
Investment Insights
Based on property information with market context.
This commercial real estate offering features a 24,276 square foot warehouse property available for sale. The property is located in Clinton Township, Michigan.
Key Highlights
- Built in 1989
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
$158,949
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
6.66%
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%
$3,178,980
$3.2M
Cap Rate 7%
$2,270,700
$2.3M
Cap Rate 9%
$1,766,100
$1.8M
Market Conditions
NOI Build-Up for 24,276 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
$198.1K $8.16/SF
− Vacancy
−$11.1K −$0.46/SF
EGI
$187.0K $7.70/SF
− OpEx
−$28.0K −$1.16/SF
NOI
$158.9K $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%
$3,178,980
Cap Rate 7%
$2,270,700
Cap Rate 9%
$1,766,100
Alternative Uses
Best Use
Warehouse
$2.27M
$1.99M – $2.65M
NOI $158,949 @ 7.0% cap · market cap 6.66%
Second Best
Industrial
$1.87M
$1.64M – $2.18M
NOI $130,899 @ 7.0% cap · market cap 5.49%
Theoretical Best
Specialty Retail
$4.54M
$3.98M – $5.30M
NOI $318,140 @ 7.0% cap · market cap 13.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
381
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48038, MI
44,038
Population
21,395
Households
2.1
Avg Household Size
43
Median Age
29%
College-Educated
94%
High-School Grad
10.9 sq mi
ZIP Area
4,040
Density / Sq Mi
$78,684
Median Household Income
$44,811
Median Earnings
$1,255
Median Rent
$246,400
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
- iStorage — 20772 Hall Rd, Clinton Twp, MI 48038
- 1-800-Self-Storage.com — 20900 Hall Rd, Clinton Twp, MI 48038
Frequently Asked Questions
What type of property is this?
Warehouse - 24,276 sqft warehouse available for purchase in Clinton Township.
Where is this warehouse located?
The property is located at 21338 Carlo Dr Clinton Township, MI.
What is the asking price?
The asking price for this property is $2,385,000.
What are key features of this property?
This property features: Built in 1989
