Clear-Span Industrial
23680 Research Drive, Farmington Hills, MI 48335
For Sale
Contact for pricing
Industrial warehouse with dedicated office space, overhead cranes, secured yard, and substantial electrical capacity.
Property Size25,752 SF
Price / SF$124.26
Days on Market75
Property Features for 23680 Research Drive
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Warehouse & Industrial
Clear Height
Clear Span
Office Build-Out
Drive-In Doors
Power
Voltage
Additional Details
Fenced Yard
Building Details
Building Size
Listing Agency:
Cushman & Wakefield - Detroit - Southfield, Michigan
Listed By:
Kyle Passage · License MI #6501406372
(248) 358-6113
Source:
Crexi
Added: Sep 1
Changed: Nov 1
Last Checked: Nov 12 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 Cushman & Wakefield - Detroit - Southfield, Michigan
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Investment Insights
Based on property information with market context.
This 25,752-square-foot warehouse property combines a clear-span industrial area with 3,228 square feet of office space. The facility provides 42-foot clear height, six grade-level doors measuring 14 feet by 16 feet, and two overhead cranes rated at 10 and 20 tons. Electrical service includes 1,000 amps at 480 volts.
The property also includes 48 parking spaces and a fenced lot. Its Farmington Hills setting provides access to major area freeways, supporting industrial operations that require warehouse volume, loading access, crane capacity, and office functionality.
The property also includes 48 parking spaces and a fenced lot. Its Farmington Hills setting provides access to major area freeways, supporting industrial operations that require warehouse volume, loading access, crane capacity, and office functionality.
Key Highlights
- 25,752 SF industrial warehouse with 3,228 SF of office space
- 42' clear height in the warehouse area
- Six grade‑level doors measuring 14' x 16'
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$154,933
Cap Rate
4.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,098,660
$3.1M
Cap Rate 7%
$2,213,329
$2.2M
Cap Rate 9%
$1,721,478
$1.7M
Market Conditions
NOI Build-Up for 25,752 SF
Gross rent
$189.3K $7.35/SF
− Vacancy
−$7.0K −$0.27/SF
EGI
$182.3K $7.08/SF
− OpEx
−$27.3K −$1.06/SF
NOI
$154.9K $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%
$3,098,660
Cap Rate 7%
$2,213,329
Cap Rate 9%
$1,721,478
Alternative Uses
Best Use
Warehouse
$2.21M
$1.94M – $2.58M
NOI $154,933 @ 7.0% cap · market cap 4.84%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.55M
$4.86M – $6.48M
NOI $388,814 @ 7.0% cap · market cap 12.15%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Current Use
Lease Details
42 ft
Clear height
6
Drive-in doors
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
998
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48335, MI
25,618
Population
11,964
Households
2.1
Avg Household Size
36
Median Age
65%
College-Educated
98%
High-School Grad
7.2 sq mi
ZIP Area
3,558
Density / Sq Mi
$96,359
Median Household Income
$66,646
Median Earnings
$1,451
Median Rent
$366,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Warehouses in Oakland County, MI
Properties on Market for Warehouses in Oakland County
Vacancy Rate% for Industrial in Midwest region
Similar Off Market Nearby
- North American Van Lines — 23305 Commerce Dr #100, Farmington Hills, MI 48335
- University Moving and Storage — 23305 Commerce Dr #100, Farmington Hills, MI 48335
- Corrigan Moving Systems — 23923 Research Dr, Farmington Hills, MI 48335
- Extra Space Storage — 38875 Grand River Ave, Farmington, MI 48335
- Carbon Yard LLC — 37085 Grand River Ave Ste 133, Farmington, MI 48335
Frequently Asked Questions
What type of property is this?
Warehouse - Industrial warehouse with dedicated office space, overhead cranes, secured yard, and substantial electrical capacity.
Where is this warehouse located?
The property is located at 23680 Research Drive Farmington Hills, MI.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: 25,752 SF industrial warehouse with 3,228 SF of office space; 42' clear height in the warehouse area; Six grade‑level doors measuring 14' x 16'
