Truck Terminal with
24650 Sherwood Avenue, Center Line, MI 48015
For Sale
$1,600,000
COM/IND/BUS OPP, Center Line, MI
Property Size14,776 SF
Lot Size1.60 Acres
Price / SF$108.28
Days on Market779
Property Features for 24650 Sherwood Avenue
General Information
Property type
Property subtype
Parking features
Subdivision
Standard status
APN
Size
Lot size
Utilities
Heating system
Water source
Building Details
Year built
Listing Agency:
Pilot Property Group - Residential LLC
(586) 254-0900
Listed By:
Anthony Rubino · License MI #6502425251
(586) 873-5419
Added: Sep 23, 2024
Changed: Oct 6
Last Checked: Nov 10 at 12:06PM
MLS# 50156175
Copyright © 2026 Multiple Listing Service MiRealSource. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This truck terminal includes a 14,776-square-foot building on a 1.6-acre parcel at 24650 Sherwood Avenue in Center Line, Michigan. Constructed in 1988, the property has forced-air heating and a parking lot that supports truck-oriented operations.
Public water serves the site. The property is located in Center Line, within Macomb County, and carries a commercial industrial classification as a truck terminal.
Public water serves the site. The property is located in Center Line, within Macomb County, and carries a commercial industrial classification as a truck terminal.
Key Highlights
- 14,776‑square‑foot building on a 1.6‑acre parcel
- Truck terminal classification
- Parking lot included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$87,266
Cap Rate
5.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,745,320
$1.7M
Cap Rate 7%
$1,246,657
$1.2M
Cap Rate 9%
$969,622
$969.6K
Market Conditions
NOI Build-Up for 14,776 SF
Gross rent
$108.2K $7.32/SF
− Vacancy
−$5.5K −$0.37/SF
EGI
$102.7K $6.95/SF
− OpEx
−$15.4K −$1.04/SF
NOI
$87.3K $5.91/SF
Area
Macomb County, MI
Vacancy
5.08%
Lease Rate
$7.32 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,745,320
Cap Rate 7%
$1,246,657
Cap Rate 9%
$969,622
Alternative Uses
Best Use
Warehouse
$1.25M
$1.09M – $1.45M
NOI $87,266 @ 7.0% cap · market cap 5.45%
Second Best
Industrial
$1.03M
$898.3K – $1.20M
NOI $71,866 @ 7.0% cap · market cap 4.49%
Theoretical Best
Specialty Retail
$2.77M
$2.42M – $3.23M
NOI $193,641 @ 7.0% cap · market cap 12.10%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
625
Businesses Nearby
Explore this area
Business Placement
Demographics for 48015, MI
8,552
Population
3,789
Households
2.3
Avg Household Size
42
Median Age
19%
College-Educated
87%
High-School Grad
1.8 sq mi
ZIP Area
4,751
Density / Sq Mi
$52,857
Median Household Income
$45,326
Median Earnings
$627
Median Rent
$145,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Truck terminal - Truck terminal featuring a dedicated parking lot, forced-air heating, and public water service.
Where is this truck terminal located?
The property is located at 24650 Sherwood Avenue Center Line, MI.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 14,776‑square‑foot building on a 1.6‑acre parcel; Truck terminal classification; Parking lot included
