Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    29050 - 29062 Airport Drive Romulus, MI

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $6 SF/Yr

    Industrial park space near Detroit Metro Airport for lease.

    Type:INDUSTRIAL
    Property size:
    11,337 SF
    Lot size:
    2.45 Acres
    Added:
    Sep 3, 2025
    Days on Market:
    211
    Last Refresh:
    Mar 29 at 8:35 pm

    Property Features for 29050 - 29062 Airport Drive

    General Information

    Standard status
    Active
    Size
    11,337 SF
    Lot size
    2.45 Acres
    Property subtype
    INDUSTRIAL

    Spaces For Lease

    at 29050 - 29062 Airport Drive Contact us

    We can help!

    Listing Contact
    LARRY EMMONS
    LARRY EMMONS

    Listing agent LARRY EMMONS

    Listing office Newmark | Detroit (Farmington Hills)

    Listing date Sep 3, 2025

    Source Moodyscre

    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 Newmark | Detroit (Farmington Hills)

    Overview

    Romulus Warehouse Space Available

    This property is located in a 23-building industrial park approximately half a mile from Detroit Metro Airport. The available space, located at 29050 Airport Drive, building #20, Suite 29050, offers 11,337 square feet suitable for warehouse, distribution, and freight forwarding operations. The space includes 6 docks and 1 grade-level door, along with 1,200 square feet of office space. The ceiling height is 16-18 feet clear. A minimum lease term of 5 years is required.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Warehouses

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Building Supply Hair Salon Nail Salon Big Box & Wholesale Store Pharmacy Auto Parts Store Food Market

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Certified Delivery Service, Inc. — 28260 Goddard Rd, Romulus, MI 48174
    • Allied Van Lines — 10049 Harrison Rd #501, Romulus, MI 48174

    Location Insight

    • Map
    • Local Demand
    City
    Romulus
    County
    Wayne
    State
    Michigan
    Longitude
    -83.3248
    Latitude
    42.2364

    Nearby Similar for Lease

    • Contact for pricing

      Romulus Warehouse and Distribution Space

      Warehouse, distribution, and office space near Detroit Metro Airport.
      29200 Airport Dr, Romulus, MI 48174
      View Details
    • $6/mo

      Romulus Warehouse Space for Lease

      35,407 SF warehouse space available for lease in Romulus.
      28420 Highland Rd, Romulus, MI
      View Details
    • Contact for pricing

      Romulus Warehouse Near Metro Airport

      Available warehouse space with cross-dock loading near Metro Airport.
      27651 Hildebrandt Street, Romulus, MI 48174
      View Details
    • Contact for pricing

      Industrial Space Near Detroit Airport

      17,329 SF industrial space with docks near Detroit Airport.
      28933 Highland Road, Romulus, MI 48174
      View Details
    • Contact for pricing

      Romulus Warehouse Suites for Lease

      Suites with overhead doors, truckwells, and fenced storage available.
      30022-28 Beverly Rd, Romulus, MI 48174
      View Details
    • Contact for pricing

      Romulus Warehouse Space Available

      42,451 SF warehouse space for lease in Romulus.
      36501 Van Born Road, Romulus, MI, 48174
      View Details
    • Contact for pricing

      Class A Industrial Building

      243,800 SF Class A industrial building with 32' clear height.
      32250 Smith Road, Romulus, MI 48174
      View Details
    • $6/mo

      Harrison Road Warehouse Space Available

      Industrial warehouse space for lease with immediate occupancy.
      9300-9328 Harrison Rd, Romulus, MI
      View Details
    • Contact for pricing

      Industrial Park Near Detroit Airport

      Industrial spaces ideal for warehouse, distribution, and freight forwarding.
      9330 Harrison Rd, Romulus, MI 48174
      View Details
    • Contact for pricing

      Office Space Available For Rent

      Office space available for lease in Romulus, Michigan.
      37451 Ecorse Rd, Romulus, MI 48174
      View Details
    • Contact for pricing

      Freestanding Light Industrial Space

      11,800 SF light industrial space with overhead doors.
      29959 Beverly, Romulus, MI 48174
      View Details
    • Contact for pricing

      Office Space for Rent

      Office space available for rent in Romulus, Michigan.
      28486 Beverly, Romulus, MI 48174
      View Details

    FAQs

    What type of property is this?
    Warehouse - Industrial park space near Detroit Metro Airport for lease.
    Where is this warehouse located?
    The property is located at 29050 - 29062 Airport Drive Romulus, MI.
    What is the lease rate?
    The lease rate is $6 SF/Yr.
    What are key features of this property?
    This property features: Proximity to Detroit Metro Airport (0.5 miles); Suitable for warehouse, distribution, and freight forwarding; 11,337 SF available in Suite 29050
    (248) 350-9500
    We can help!
    Listing Contact
    LARRY EMMONS
    LARRY EMMONS
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!