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24399 Telegraph Rd, Southfield, MI 48033
Industrial properties
Property Size10,160 SF
Price / SF$117.62
Days on Market182
Property Features for 24399 Telegraph Rd
General Information
Standard status
Active
Size
10,160 SF
Property subtype
Industrial
Zoning
I-1
Investment Type
Owner/User
Building Details
Year Built
1963
Buildings
1
Stories
2
Listing Agency:
Keystone Commercial Real Estate
(248) 406-7113
Listed By:
Greg Newman · License #MI 6501288543
Source:
Crexi
Added: Feb 20
Changed: Aug 17
Last Checked: Aug 20 at 1:05PM
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 Keystone Commercial Real Estate
Investment Insights
Based on property information with market context.
Key Highlights
- 10,160 SF well‑maintained building suitable for industrial use.
- Advantageous location.
- I‑1 zoning designation allows for a wide range of industrial and manufacturing operations.
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
$50,339
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
4.21%
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%
$1,006,780
$1.0M
Cap Rate 7%
$719,129
$719.1K
Cap Rate 9%
$559,322
$559.3K
Market Conditions
NOI Build-Up for 10,160 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
$74.7K $7.35/SF
− Vacancy
−$2.8K −$0.27/SF
EGI
$71.9K $7.08/SF
− OpEx
−$21.6K −$2.12/SF
NOI
$50.3K $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%
$1,006,780
Cap Rate 7%
$719,129
Cap Rate 9%
$559,322
Alternative Uses
Best Use
Industrial
$719.1K
$629.2K – $839.0K
NOI $50,339 @ 7.0% cap · market cap 4.21%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.19M
$1.92M – $2.56M
NOI $153,400 @ 7.0% cap · market cap 12.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
500
Businesses Nearby
Explore this area
Business Placement
Demographics for 48033, MI
17,207
Population
9,198
Households
1.9
Avg Household Size
47
Median Age
33%
College-Educated
93%
High-School Grad
9.1 sq mi
ZIP Area
1,891
Density / Sq Mi
$55,599
Median Household Income
$45,192
Median Earnings
$1,242
Median Rent
$195,100
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
Where is this industrial property located?
The property is located at 24399 Telegraph Rd Southfield, MI.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: 10,160 SF well‑maintained building suitable for industrial use.; Advantageous location.; I‑1 zoning designation allows for a wide range of industrial and manufacturing operations.
