Two-Building Warehouse Property For
For Sale
Contact for pricing
24871 Gibson Dr, Warren, MI 48089
Two-building warehouse property featuring crane, office, and high ceilings.
Property Size11,648 SF
Price / SF$81.56
Days on Market402
Property Features for 24871 Gibson Dr
General Information
Standard status
Active
Size
11,648 SF
Class
C
Property subtype
Industrial
Zoning
M-2
Occupancy
100%
Investment Type
Sale/Leaseback
Building Details
Year Built
1967
Year Renovated
2022
Buildings
2
Stories
2
Tenancy
Single
Listing Agency:
L. Mason Capitani
(248) 535-8454
Listed By:
Nick Gitary · License #MI 6501406289
Source:
Crexi
Added: Jul 15, 2025
Changed: Aug 8
Last Checked: Aug 18 at 9:00PM
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 property features two buildings in a sale/leaseback arrangement. Building 1 encompasses 8,648 square feet and includes a bonus upstairs office space, a 5-ton crane, and a 20-foot ceiling height. Building 2 offers 3,000 square feet of clear span warehouse space with a 22-foot ceiling height. Both buildings are equipped with air conditioning in the warehouse area, gas forced air heating, and buss duct electrical systems. The total property size is 11,648 square feet.
Key Highlights
- Sale/leaseback opportunity for two buildings.
- Building 1: 8,648 SF with bonus upstairs office and includes a 5‑ton crane.
- Building 2: 3,000 SF clear span warehouse with 22' ceiling height.
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
$72,662
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
7.65%
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%
$1,453,240
$1.5M
Cap Rate 7%
$1,038,029
$1.0M
Cap Rate 9%
$807,356
$807.4K
Market Conditions
NOI Build-Up for 11,648 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
$89.5K $7.68/SF
− Vacancy
−$4.0K −$0.34/SF
EGI
$85.5K $7.34/SF
− OpEx
−$12.8K −$1.10/SF
NOI
$72.7K $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%
$1,453,240
Cap Rate 7%
$1,038,029
Cap Rate 9%
$807,356
Alternative Uses
Best Use
Warehouse
$1.04M
$908.3K – $1.21M
NOI $72,662 @ 7.0% cap · market cap 7.65%
Second Best
Industrial
$854.8K
$748.0K – $997.3K
NOI $59,839 @ 7.0% cap · market cap 6.30%
Theoretical Best
Office A
$2.57M
$2.25M – $3.00M
NOI $179,872 @ 7.0% cap · market cap 18.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
418
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - Two-building warehouse property featuring crane, office, and high ceilings.
Where is this warehouse located?
The property is located at 24871 Gibson Dr Warren, MI.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Sale/leaseback opportunity for two buildings.; Building 1: 8,648 SF with bonus upstairs office and includes a **5‑ton crane**.; Building 2: **3,000 SF clear span warehouse** with **22' ceiling height**.
