Building Details

Building Size 7,055 SF

Year Built 1948

Listing Agency: Friedman Integrated Real Estate

Listed By: Zach Cummings Show Phone

Source: Friedmanrealestate

Added: Mar 27 Changed: Oct 5 Last Checked: Oct 5 at 3:01PM

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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 Friedman Integrated Real Estate

Investment Insights

Based on property information with market context.

This industrial property, encompassing 7,055 square feet, is available for sale. The property is located on Groesbeck Highway in Warren, Michigan.

Key Highlights

• Industrial property
• 7,055 SqFt of space
• Built in 1948

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$36,244

Cap Rate

7.32%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$724,880 $724.9K

Cap Rate 7%

$517,771 $517.8K

Cap Rate 9%

$402,711 $402.7K

Market Conditions

NOI Build-Up for 7,055 SF

Gross rent

$54.2K $7.68/SF

− Vacancy

−$2.4K −$0.34/SF

EGI

$51.8K $7.34/SF

− OpEx

−$15.5K −$2.20/SF

NOI

$36.2K $5.14/SF

Area

Warren, MI

Vacancy

4.44%

Lease Rate

$7.68 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$724,880

Cap Rate 7%

$517,771

Cap Rate 9%

$402,711

Alternative Uses

Best Use

Industrial

$517.8K

$453.1K – $604.1K (±1% cap)

NOI $36,244 @ 7.0% cap · market cap 7.32%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.56M

$1.36M – $1.82M (±1% cap)

NOI $108,945 @ 7.0% cap · market cap 22.01%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Industrial properties

Suggested Use

Top Pick Real Estate Agency Law Firm Spa & Massage Center Restaurant Hair Salon Nail Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

348

Businesses Nearby

Explore this area Business Placement

Demographics for 48089, MI

32,012

Population

13,597

Households

2.4

Avg Household Size

35

Median Age

11%

College-Educated

83%

High-School Grad

8.0 sq mi

ZIP Area

4,002

Density / Sq Mi

$53,076

Median Household Income

$35,786

Median Earnings

$1,187

Median Rent

$117,300

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this industrial properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Industrial property - 7,055 SqFt industrial property available for sale.

Where is this industrial property located?

The property is located at 21520 Groesbeck Hwy Warren, MI.

What is the asking price?

The asking price for this property is $495,000.

What are key features of this property?

This property features: Industrial property; 7,055 SqFt of space; Built in 1948