Warehouse with Fenced
New
For Sale
$650,000
24344 Gibson Dr, Warren, MI 48089
Industrial warehouse with dedicated power infrastructure and secured outdoor parking.
Property Size8,760 SF
Price / SF$74.20
Days on Market2
Property Features for 24344 Gibson Dr
General Information
Standard status
Active
Size
8,760 SF
Property subtype
Industrial
Warehouse & Industrial
Power
1,200 amps
Voltage
240 V
Building Details
Building Size
8,760 SF
Year Built
1966
Listing Agency:
L. Mason Capitani
Listed By:
Jason Capitani, SIOR, CCIM · License #6502137804
(586) 212-5270
Source:
Corfac
Added: Sep 4
Last Checked: Sep 4 at 2:45PM
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 warehouse property contains 8,760 square feet and was built in 1966. The facility includes bus duct, airlines, and 240-volt power supported by a 1,200-amp electrical service. A fenced parking lot provides secured outdoor space for the property.
Located at 24344 Gibson Dr in Warren, Michigan, the building offers a functional industrial layout with on-site parking and established power infrastructure. The combination of warehouse space, electrical capacity, and fenced parking supports a range of industrial operating requirements.
Located at 24344 Gibson Dr in Warren, Michigan, the building offers a functional industrial layout with on-site parking and established power infrastructure. The combination of warehouse space, electrical capacity, and fenced parking supports a range of industrial operating requirements.
Key Highlights
- 8,760‑square‑foot warehouse building
- Built in 1966
- Bus duct and airlines included
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
$54,646
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
8.41%
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%
$1,092,920
$1.1M
Cap Rate 7%
$780,657
$780.7K
Cap Rate 9%
$607,178
$607.2K
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
−$9.6K −$1.10/SF
NOI
$54.6K $6.24/SF
Area
Warren, MI
Vacancy
4.44%
Lease Rate
$7.68 /SF/Yr
Expense Ratio
15.00%
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%
$1,092,920
Cap Rate 7%
$780,657
Cap Rate 9%
$607,178
Alternative Uses
Best Use
Warehouse
$780.7K
$683.1K – $910.8K
NOI $54,646 @ 7.0% cap · market cap 8.41%
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
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
447
Businesses Nearby
Balanced
Demand for This Use
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?
Warehouse - Industrial warehouse with dedicated power infrastructure and secured outdoor parking.
Where is this warehouse located?
The property is located at 24344 Gibson Dr 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‑foot warehouse building; Built in 1966; Bus duct and airlines included
