Manufacturing Building with Office
For Sale
Contact for pricing
24808 Romano St, Warren, MI 48091
7,600 SF manufacturing building with 1,200 SF office space.
Property Size7,600 SF
Price / SF$85.53
Days on Market324
Property Features for 24808 Romano St
General Information
Standard status
Active
Size
7,600 SF
Property subtype
Industrial
Zoning
M-2
Building Details
Year Built
1978
Listing Agency:
P.A. Commercial Corporate & Investment Real Estate
(248) 663-0506
Listed By:
John Arthurs · License #MI 6501222941
Source:
Crexi
Added: Oct 1, 2025
Changed: Aug 8
Last Checked: Aug 8 at 6:38AM
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 P.A. Commercial Corporate & Investment Real Estate
Investment Insights
Based on property information with market context.
This 7,600 SF manufacturing building includes 1,200 SF of office space. The building features two 12' x 14' overhead doors, positioned at the front and rear of the property. A one-ton bridge crane covers approximately 3,000 SF of the manufacturing area. The building has an 18' clear height, 220 Volt/400 AMP power, floor drains, and two lavatories. The building and parking lot are in well-maintained condition. Located in a commercial industrial area, the property offers access to I-696. The location is in the heart of the automotive industry, with access to major highways and proximity to the Detroit Metropolitan area. The area has a manufacturing heritage and infrastructure that supports industrial and manufacturing operations. Nearby points of interest include the GM Technical Center, Chrysler Stamping Plant, and TACOM (Tank-automotive and Armaments Command).
Key Highlights
- Strategic location with excellent access to I‑696 and proximity to the Detroit Metropolitan area.
- 7,600 SF manufacturing building with a 1,200 SF office.**
- Equipped with a one (1) ton bridge crane over approximately 3,000 SF.**
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
$39,044
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
6.01%
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%
$780,880
$780.9K
Cap Rate 7%
$557,771
$557.8K
Cap Rate 9%
$433,822
$433.8K
Market Conditions
NOI Build-Up for 7,600 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
$58.4K $7.68/SF
− Vacancy
−$2.6K −$0.34/SF
EGI
$55.8K $7.34/SF
− OpEx
−$16.7K −$2.20/SF
NOI
$39.0K $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%
$780,880
Cap Rate 7%
$557,771
Cap Rate 9%
$433,822
Alternative Uses
Best Use
Industrial
$557.8K
$488.1K – $650.7K
NOI $39,044 @ 7.0% cap · market cap 6.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.68M
$1.47M – $1.96M
NOI $117,361 @ 7.0% cap · market cap 18.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
316
Businesses Nearby
Explore this area
Business Placement
Demographics for 48091, MI
32,267
Population
12,919
Households
2.5
Avg Household Size
37
Median Age
17%
College-Educated
82%
High-School Grad
7.9 sq mi
ZIP Area
4,084
Density / Sq Mi
$53,400
Median Household Income
$31,877
Median Earnings
$1,231
Median Rent
$138,700
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 - 7,600 SF manufacturing building with 1,200 SF office space.
Where is this manufacturing property located?
The property is located at 24808 Romano St 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: Strategic location with excellent access to I‑696 and proximity to the Detroit Metropolitan area.; 7,600 SF manufacturing building with a 1,200 SF office.**; Equipped with a one (1) ton bridge crane over approximately 3,000 SF.**
