Industrial Property in Troy,
For Sale
Contact for pricing
2222 Stephenson Highway, Troy, MI 48083
30,210 SqFt industrial property available for sale.
Property Size30,210 SF
Price / SF$91.86
Days on Market159
Property Features for 2222 Stephenson Highway
General Information
Standard status
Active
Size
30,210 SF
Total Parking Spaces
20
Property subtype
Industrial
Zoning
M-1
Lease Type
NNN
Building Details
Year Built
1968
Listing Agency:
Colliers - Royal Oak/Detroit, Michigan
Listed By:
Sean Jamian · License #MI
Source:
Crexi
Added: Mar 7
Changed: Aug 9
Last Checked: Aug 12 at 11:50AM
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 Colliers - Royal Oak/Detroit, Michigan
Investment Insights
Based on property information with market context.
This industrial property offers 30,210 square feet of space. The property is located in Troy, Michigan.
Key Highlights
- Industrial property available.
- 30,210 SqFt of space.
- Year Built: 1968.
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
$149,680
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
5.39%
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%
$2,993,600
$3.0M
Cap Rate 7%
$2,138,286
$2.1M
Cap Rate 9%
$1,663,111
$1.7M
Market Conditions
NOI Build-Up for 30,210 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
$222.0K $7.35/SF
− Vacancy
−$8.2K −$0.27/SF
EGI
$213.8K $7.08/SF
− OpEx
−$64.1K −$2.12/SF
NOI
$149.7K $4.95/SF
Area
Oakland County, MI
Vacancy
3.70%
Lease Rate
$7.35 /SF/Yr
Expense Ratio
30.00%
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%
$2,993,600
Cap Rate 7%
$2,138,286
Cap Rate 9%
$1,663,111
Alternative Uses
Best Use
Industrial
$2.14M
$1.87M – $2.49M
NOI $149,680 @ 7.0% cap · market cap 5.39%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.52M
$5.70M – $7.60M
NOI $456,123 @ 7.0% cap · market cap 16.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
909
Businesses Nearby
Explore this area
Business Placement
Demographics for 48083, MI
24,074
Population
10,437
Households
2.3
Avg Household Size
41
Median Age
53%
College-Educated
91%
High-School Grad
8.6 sq mi
ZIP Area
2,799
Density / Sq Mi
$88,551
Median Household Income
$53,204
Median Earnings
$1,277
Median Rent
$293,300
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?
Industrial property - 30,210 SqFt industrial property available for sale.
Where is this industrial property located?
The property is located at 2222 Stephenson Highway Troy, MI.
What is the asking price?
The asking price for this property is $2,775,000.
What are key features of this property?
This property features: Industrial property available.; 30,210 SqFt of space.; Year Built: 1968.
