Listing Agency: Newmark Knight Frank Detroit Show Phone

Listed By: Geoffrey S. Hill Show Phone

Source: Moodyscre

Added: May 25 Changed: Oct 26 Last Checked: Oct 30 at 5:32PM

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Investment Insights

Based on property information with market context.

Manufacturing or warehousing facility offered for sale in Troy, featuring two exterior truckwells and two 12' x 14' grade level doors. The building includes heavy power and a high-bay office area that can be removed to create additional warehouse space. Immediate occupancy is available.

The property provides parking for up to 60 vehicles, supporting flexible day-to-day operations for inbound and outbound activity.

Overall, the configuration supports industrial use with dock access via exterior truckwells and drive-in capability through the grade level doors, along with power capacity designed for heavier requirements.

Key Highlights

• Great Troy manufacturing/warehousing building with immediate occupancy
• 2 exterior truckwells
• Two 12' x 14' grade level doors

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$80,595

Cap Rate

5.01%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,611,900 $1.6M

Cap Rate 7%

$1,151,357 $1.2M

Cap Rate 9%

$895,500 $895.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 13,396 SF

Gross rent

$98.5K $7.35/SF

− Vacancy

−$3.6K −$0.27/SF

EGI

$94.8K $7.08/SF

− OpEx

−$14.2K −$1.06/SF

NOI

$80.6K $6.02/SF

Area

Oakland County, MI

Vacancy

3.70%

Lease Rate

$7.35 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,611,900

Cap Rate 7%

$1,151,357

Cap Rate 9%

$895,500

Alternative Uses

Best Use

Warehouse

$1.15M

$1.01M – $1.34M (±1% cap)

NOI $80,595 @ 7.0% cap · market cap 5.01%

Second Best

Industrial

$948.2K

$829.7K – $1.11M (±1% cap)

NOI $66,372 @ 7.0% cap · market cap 4.13%

Theoretical Best

Specialty Retail

$2.89M

$2.53M – $3.37M (±1% cap)

NOI $202,258 @ 7.0% cap · market cap 12.58%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Manufacturing properties

Suggested Use

Top Pick Real Estate Agency Law Firm Gym & Fitness Center Storage Facility Hotel & Motel Parking Lot & Garage

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Drive-in doors

Yes

Heavy power

Location Intelligence

Trade Area within ½ mile

802

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 48083, MI

24,074

Population

10,437

Households

2.3

Avg Household Size

41

Median Age

53%

College-Educated

91%

High-School Grad

8.6 sq mi

ZIP Area

2,799

Density / Sq Mi

$88,551

Median Household Income

$53,204

Median Earnings

$1,277

Median Rent

$293,300

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

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Frequently Asked Questions

What type of property is this?

Warehouse - Industrial warehouse for sale with exterior truckwells, multiple grade level doors, heavy power, and substantial parking.

Where is this warehouse located?

The property is located at 2741 Elliott Dr Troy, MI.

What is the asking price?

The asking price for this property is $1,607,520.

What are key features of this property?

This property features: Great Troy manufacturing/warehousing building with immediate occupancy; 2 exterior truckwells; Two 12' x 14' grade level doors