Industrial Land with Office
For Sale
$3,900,000
28800-28820 Mound Road, Warren, MI 48092
M-2 zoning and city utilities support a range of commercial and industrial uses.
Property Size10,990 SF
Days on Market48
Property Features for 28800-28820 Mound Road
General Information
Standard status
Active
Size
10,990 SF
Class
C
Property subtype
VacantLand
Building Details
Building Size
10,990 SF
Year Built
1955
Listing Agency:
P.A. Commercial
(248) 663-0506
Listed By:
John T. Arthurs · License #6501222941
Source:
Commercialcafe
Added: Jul 15
Changed: Aug 29
Last Checked: Aug 30 at 1:38PM
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
Investment Insights
Based on property information with market context.
This industrial land offering comprises 2.29 acres arranged across two parcels, with approximately 200 feet by 500 feet of land. An existing office building constructed in 1955 is included, and the property is served by city utilities. M-2 zoning permits a broad range of commercial and industrial uses.
The site is positioned between a Sheetz property along the north boundary and a Clean Express Car Wash along the south boundary. The offering includes 28800 Mound Road, totaling 1.61 acres, and 28820 Mound Road, totaling 0.69 acres. An additional 1.5 acres to the rear is also available for purchase. The property is located on Mound Road in Warren, Michigan, with reported daily traffic exceeding 44,000 vehicles.
The site is positioned between a Sheetz property along the north boundary and a Clean Express Car Wash along the south boundary. The offering includes 28800 Mound Road, totaling 1.61 acres, and 28820 Mound Road, totaling 0.69 acres. An additional 1.5 acres to the rear is also available for purchase. The property is located on Mound Road in Warren, Michigan, with reported daily traffic exceeding 44,000 vehicles.
Key Highlights
- 2.29 acres of industrial land across two parcels
- Approximately 200' × 500' of land
- M‑2 zoning supports a wide range of commercial and industrial uses
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
$118,241
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
3.03%
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%
$2,364,820
$2.4M
Cap Rate 7%
$1,689,157
$1.7M
Cap Rate 9%
$1,313,789
$1.3M
Market Conditions
NOI Build-Up for 10,990 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
$179.4K $16.32/SF
− Vacancy
−$21.7K −$1.97/SF
EGI
$157.7K $14.35/SF
− OpEx
−$39.4K −$3.59/SF
NOI
$118.2K $10.76/SF
Area
Warren, MI
Vacancy
12.10%
Lease Rate
$16.32 /SF/Yr
Expense Ratio
25.00%
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%
$2,364,820
Cap Rate 7%
$1,689,157
Cap Rate 9%
$1,313,789
Alternative Uses
Best Use
Office B
$1.69M
$1.48M – $1.97M
NOI $118,241 @ 7.0% cap · market cap 3.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.42M
$2.12M – $2.83M
NOI $169,711 @ 7.0% cap · market cap 4.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
329
Businesses Nearby
Explore this area
Business Placement
Demographics for 48092, MI
27,186
Population
11,052
Households
2.5
Avg Household Size
42
Median Age
27%
College-Educated
86%
High-School Grad
8.1 sq mi
ZIP Area
3,356
Density / Sq Mi
$71,761
Median Household Income
$40,174
Median Earnings
$1,186
Median Rent
$205,300
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Industrial land - M-2 zoning and city utilities support a range of commercial and industrial uses.
Where is this industrial land located?
The property is located at 28800-28820 Mound Road Warren, MI.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: 2.29 acres of industrial land across two parcels; Approximately 200' × 500' of land; M‑2 zoning supports a wide range of commercial and industrial uses
