Manufacturing Property with Bus
New
For Sale
Contact for pricing
24344 Gibson Avenue, Warren, MI 48089
Industrial facility with substantial electrical service, compressed-air lines, and a secured parking area.
Property Size8,760 SF
Price / SF$74.20
Days on Market6
Property Features for 24344 Gibson Avenue
General Information
Standard status
Active
Size
8,760 SF
Property subtype
Industrial
Warehouse & Industrial
Power
1,200 amps
Voltage
240 V
Listing Agency:
L. Mason Capitani
Listed By:
Jason Capitani, SIOR, CCIM · License #MI 6502137804
(586) 212-5270
Source:
Crexi
Added: Sep 2
Changed: Sep 5
Last Checked: Sep 7 at 8:50AM
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 L. Mason Capitani
Investment Insights
Based on property information with market context.
This manufacturing property contains 8,760 square feet of industrial space with bus duct, airlines, and 240-volt power. Electrical service is rated at 1,200 amps, supporting operations that require significant power capacity.
The property also includes a fenced parking lot. It is located at 24344 Gibson Avenue in Warren, Michigan 48089, providing a defined industrial setting for manufacturing use.
The property also includes a fenced parking lot. It is located at 24344 Gibson Avenue in Warren, Michigan 48089, providing a defined industrial setting for manufacturing use.
Key Highlights
- 8,760 square feet of manufacturing space
- 1,200‑amp electrical service
- 240‑volt power
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
$45,003
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
6.92%
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%
$900,060
$900.1K
Cap Rate 7%
$642,900
$642.9K
Cap Rate 9%
$500,033
$500.0K
Market Conditions
NOI Build-Up for 8,760 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
$67.3K $7.68/SF
− Vacancy
−$3.0K −$0.34/SF
EGI
$64.3K $7.34/SF
− OpEx
−$19.3K −$2.20/SF
NOI
$45.0K $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 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%
$900,060
Cap Rate 7%
$642,900
Cap Rate 9%
$500,033
Alternative Uses
Best Use
Industrial
$642.9K
$562.5K – $750.1K
NOI $45,003 @ 7.0% cap · market cap 6.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.93M
$1.69M – $2.25M
NOI $135,274 @ 7.0% cap · market cap 20.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
451
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Industrial facility with substantial electrical service, compressed-air lines, and a secured parking area.
Where is this manufacturing property located?
The property is located at 24344 Gibson Avenue Warren, MI.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 8,760 square feet of manufacturing space; 1,200‑amp electrical service; 240‑volt power
