Fire-Suppressed
For Sale
$4,700,000
22700 Heslip Dr, Novi, MI 48375
I-1-zoned warehouse with multiple loading docks and a fully fire-suppressed building.
Property Size44,474 SF
Lot Size4.63 Acres
Price / SF$105.68
Days on Market363
Property Features for 22700 Heslip Dr
General Information
Standard status
Active
Size
44,474 SF
Lot size
4.63 Acres
Property subtype
Industrial
Zoning
I-1
Warehouse & Industrial
Clear Height
21 ft
Dock-High Doors
4
Sprinkler System
Yes
Building Details
Building Size
44,474 SF
Listing Agency:
Colliers
Listed By:
Joe Royer
(248) 226-1628
Source:
Cpix.resimplifi
Added: Oct 28, 2025
Changed: Oct 14
Last Checked: Oct 24 at 1:34PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This warehouse property encompasses 4.63 acres and includes four loading docks, providing dedicated loading infrastructure for commercial operations. The building offers 21 feet of clear height and is fully fire suppressed.
Located at 22700 Heslip Dr in Novi, Michigan, the property carries I-1 zoning. Its warehouse configuration, loading capacity, and substantial site area support a range of industrial uses consistent with the stated zoning.
Located at 22700 Heslip Dr in Novi, Michigan, the property carries I-1 zoning. Its warehouse configuration, loading capacity, and substantial site area support a range of industrial uses consistent with the stated zoning.
Key Highlights
- 4.63 acres
- 4 loading docks
- 21’ clear height
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$267,571
Cap Rate
5.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,351,420
$5.4M
Cap Rate 7%
$3,822,443
$3.8M
Cap Rate 9%
$2,973,011
$3.0M
Market Conditions
NOI Build-Up for 44,474 SF
Gross rent
$326.9K $7.35/SF
− Vacancy
−$12.1K −$0.27/SF
EGI
$314.8K $7.08/SF
− OpEx
−$47.2K −$1.06/SF
NOI
$267.6K $6.02/SF
Area
Oakland County, MI
Vacancy
3.70%
Lease Rate
$7.35 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,351,420
Cap Rate 7%
$3,822,443
Cap Rate 9%
$2,973,011
Alternative Uses
Best Use
Warehouse
$3.82M
$3.34M – $4.46M
NOI $267,571 @ 7.0% cap · market cap 5.69%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$9.59M
$8.39M – $11.19M
NOI $671,486 @ 7.0% cap · market cap 14.29%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
21 ft
Clear height
4
Dock-high doors
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
426
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 48375, MI
23,237
Population
10,223
Households
2.3
Avg Household Size
40
Median Age
63%
College-Educated
98%
High-School Grad
8.4 sq mi
ZIP Area
2,766
Density / Sq Mi
$112,978
Median Household Income
$70,326
Median Earnings
$1,880
Median Rent
$348,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
Similar Off Market Nearby
- U-Haul Self Storage — 21650 Novi Rd, Novi, MI 48375
- Storage of America — 22222 Roethel Dr, Novi, MI 48375
- Mo`s Moving Company — 22222 roethel dr b102, novi, mi 48375
Frequently Asked Questions
What type of property is this?
Warehouse - I-1-zoned warehouse with multiple loading docks and a fully fire-suppressed building.
Where is this warehouse located?
The property is located at 22700 Heslip Dr Novi, MI.
What is the asking price?
The asking price for this property is $4,700,000.
What are key features of this property?
This property features: 4.63 acres; 4 loading docks; 21’ clear height
