Industrial Flex Building with
For Sale
$2,500,000
2200 E 11 Mile Rd, Warren, MI 48091
A mixed warehouse, shop, and office facility with 18’ clear height, overhead doors, and ample parking for industrial operations.
Property Size20,210 SF
Lot Size2.50 Acres
Price / SF$123.70
Days on Market60
Property Features for 2200 E 11 Mile Rd
General Information
Standard status
Active
Size
20,210 SF
Lot size
2.50 Acres
Property subtype
Industrial
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Clear Height
18 ft
Drive-In Doors
2
Heavy Power
Yes
Building Details
Building Size
20,210 SF
Year Built
1984
Listing Agency:
P.A. Commercial Corporate & Investment Real Estate
(248) 358-0100
Listed By:
John Dewald · License #6504136199
(248) 358-0100
Source:
Thebrokerlist
Added: Jun 11
Changed: Aug 8
Last Checked: Aug 8 at 7:50AM
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 P.A. Commercial Corporate & Investment Real Estate
Investment Insights
Based on property information with market context.
This industrial flex building totals 20,210 SF and combines warehouse, shop, service, and office space to support a range of operational needs. The interior includes 15,210 SF of shop space paired with 5,000 SF of professional office area. The facility is equipped with 18’ clear height, two 12’ x 12’ overhead doors, and LED lighting. Partial AC serves the shop while the office area is fully air conditioned. Additional operational support includes heavy power capacity and a 40KW backup generator.
The property sits on a prominent 2.5-acre corner parcel at 2200 E. 11 Mile Road in Warren, Michigan, between 11 Mile Road and the I-696 Service Drive. It benefits from highly visible pylon signage and is positioned for access to major routes including immediate connections to I-696 and I-75, supporting regional business connectivity.
Currently occupied and meticulously maintained by Flame Furnace Company for nearly three decades, the building reflects long-term operational use and ongoing care. With its combination of shop space and dedicated office area, along with multiple overhead doors and large on-site parking for employees, customers, and service fleets, the property is well suited for industrial, service, and light manufacturing users seeking an all-in-one headquarters and production layout.
The property sits on a prominent 2.5-acre corner parcel at 2200 E. 11 Mile Road in Warren, Michigan, between 11 Mile Road and the I-696 Service Drive. It benefits from highly visible pylon signage and is positioned for access to major routes including immediate connections to I-696 and I-75, supporting regional business connectivity.
Currently occupied and meticulously maintained by Flame Furnace Company for nearly three decades, the building reflects long-term operational use and ongoing care. With its combination of shop space and dedicated office area, along with multiple overhead doors and large on-site parking for employees, customers, and service fleets, the property is well suited for industrial, service, and light manufacturing users seeking an all-in-one headquarters and production layout.
Key Highlights
- 20,210 SF industrial facility built in 1984 with 15,210 SF shop/warehouse space and 5,000 SF office area
- 18' clear height plus two 12' x 12' overhead doors for loading and service operations
- Power and backup included: heavy power capacity and a 40KW backup generator
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
$207,452
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
8.30%
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%
$4,149,040
$4.1M
Cap Rate 7%
$2,963,600
$3.0M
Cap Rate 9%
$2,305,022
$2.3M
Market Conditions
NOI Build-Up for 20,210 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
$339.5K $16.80/SF
− Vacancy
−$20.4K −$1.01/SF
EGI
$319.2K $15.79/SF
− OpEx
−$111.7K −$5.53/SF
NOI
$207.5K $10.26/SF
Area
Warren, MI
Vacancy
6.00%
Lease Rate
$16.80 /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%
$4,149,040
Cap Rate 7%
$2,963,600
Cap Rate 9%
$2,305,022
Alternative Uses
Best Use
Flex RnD
$2.96M
$2.59M – $3.46M
NOI $207,452 @ 7.0% cap · market cap 8.30%
Second Best
Warehouse
$1.80M
$1.58M – $2.10M
NOI $126,073 @ 7.0% cap · market cap 5.04%
Theoretical Best
Office A
$4.46M
$3.90M – $5.20M
NOI $312,088 @ 7.0% cap · market cap 12.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18 ft
Clear height
2
Drive-in doors
Yes
Heavy power
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
202
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48091, MI
32,267
Population
12,919
Households
2.5
Avg Household Size
37
Median Age
17%
College-Educated
82%
High-School Grad
7.9 sq mi
ZIP Area
4,084
Density / Sq Mi
$53,400
Median Household Income
$31,877
Median Earnings
$1,231
Median Rent
$138,700
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - A mixed warehouse, shop, and office facility with 18’ clear height, overhead doors, and ample parking for industrial operations.
Where is this flex space located?
The property is located at 2200 E 11 Mile Rd Warren, MI.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 20,210 SF industrial facility built in 1984 with 15,210 SF shop/warehouse space and 5,000 SF office area; 18' clear height plus two 12' x 12' overhead doors for loading and service operations; Power and backup included: heavy power capacity and a 40KW backup generator
