Industrial Warehouse with Truck
For Sale
$4,455,000
29 W Rundell St, Pontiac, MI 48342
Well-maintained warehouse offers 15'–20' clear height, five truck wells, and four 12'x12' overhead doors.
Property Size81,000 SF
Price / SF$55
Days on Market399
Property Features for 29 W Rundell St
General Information
Standard status
Active
Size
81,000 SF
Property subtype
Industrial
Zoning
M-I
Warehouse & Industrial
Clear Height
20 ft
Dock-High Doors
5
Heavy Power
Yes
Additional Details
Highway Access
Yes
Building Details
Building Size
81,000 SF
Year Built
1987
Listing Agency:
Lee & Associates of Michigan
Listed By:
Giancarlo Pinterpe
(248) 561-5748
Source:
Cpix.resimplifi
Added: Aug 5, 2025
Changed: Aug 8
Last Checked: Jul 23 at 10:04AM
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 Lee & Associates of Michigan
Investment Insights
Based on property information with market context.
This well-maintained industrial warehouse totals 81,000 SF and includes approximately 3,000 SF of office space. The facility provides clear ceiling heights ranging from 15' to 20' throughout the building, supporting a wide range of industrial and distribution needs.
Loading is supported by five truck wells and four 12' x 12' overhead doors. Power is available via a 4,000-amp primary service with 480-volt capability.
Access is described as convenient to major highways, including I-75 and M-59. The public remarks also note a potential sale-leaseback option for a portion of the building.
Loading is supported by five truck wells and four 12' x 12' overhead doors. Power is available via a 4,000-amp primary service with 480-volt capability.
Access is described as convenient to major highways, including I-75 and M-59. The public remarks also note a potential sale-leaseback option for a portion of the building.
Key Highlights
- 81,000 SF well‑maintained industrial facility with 3,000 SF office space
- 15'–20' clear ceiling height throughout the building
- Loading features include five truck wells and four 12' x 12' overhead doors
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
$401,325
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
9.01%
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%
$8,026,500
$8.0M
Cap Rate 7%
$5,733,214
$5.7M
Cap Rate 9%
$4,459,167
$4.5M
Market Conditions
NOI Build-Up for 81,000 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
$595.4K $7.35/SF
− Vacancy
−$22.0K −$0.27/SF
EGI
$573.3K $7.08/SF
− OpEx
−$172.0K −$2.12/SF
NOI
$401.3K $4.95/SF
Area
Oakland County, MI
Vacancy
3.70%
Lease Rate
$7.35 /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%
$8,026,500
Cap Rate 7%
$5,733,214
Cap Rate 9%
$4,459,167
Alternative Uses
Best Use
Warehouse
$6.96M
$6.09M – $8.12M
NOI $487,324 @ 7.0% cap · market cap 10.94%
Second Best
Industrial
$5.73M
$5.02M – $6.69M
NOI $401,325 @ 7.0% cap · market cap 9.01%
Theoretical Best
Specialty Retail
$17.47M
$15.29M – $20.38M
NOI $1,222,970 @ 7.0% cap · market cap 27.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20 ft
Clear height
5
Dock-high doors
Yes
Heavy power
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
345
Businesses Nearby
Explore this area
Business Placement
Demographics for 48342, MI
18,685
Population
7,559
Households
2.5
Avg Household Size
33
Median Age
10%
College-Educated
76%
High-School Grad
5.2 sq mi
ZIP Area
3,593
Density / Sq Mi
$33,750
Median Household Income
$29,970
Median Earnings
$851
Median Rent
$90,600
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?
Distribution center - Well-maintained warehouse offers 15'–20' clear height, five truck wells, and four 12'x12' overhead doors.
Where is this distribution center located?
The property is located at 29 W Rundell St Pontiac, MI.
What is the asking price?
The asking price for this property is $4,455,000.
What are key features of this property?
This property features: 81,000 SF well‑maintained industrial facility with 3,000 SF office space; 15'–20' clear ceiling height throughout the building; Loading features include five truck wells and four 12' x 12' overhead doors
