Building Details

Building Size 23,592 SF

Year Built 1971

Listing Agency: Friedman Integrated Real Estate

Listed By: Zach Cummings Show Phone

Source: Friedmanrealestate

Added: Jun 2 Changed: Oct 5 Last Checked: Oct 20 at 5:58PM

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Investment Insights

Based on property information with market context.

This manufacturing building includes an attached 2,750 SF two-story office and a 1,400 SF bonus mezzanine within the shop area, noted as not included in the total square footage. The shop provides crane coverage with (3) 5-ton cranes and (1) 10-ton crane. Electrical service is listed as 480V, 3-phase, with 2,800 amps, along with bus ducts and airlines throughout the space.

The facility offers 16'–22' clear height and three grade-level doors, including (2) 12x14 doors and (1) 14x14 door. The property is available for lease or for sale.

Key Highlights

• 23,592 SF manufacturing building built in 1971, available for lease or sale
• Crane coverage includes (3) 5‑ton cranes and (1) 10‑ton crane
• 480V 3‑phase power with 2,800 amps, plus transformer, bus ducts, and airlines throughout

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$127,211

Cap Rate

6.78%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,544,220 $2.5M

Cap Rate 7%

$1,817,300 $1.8M

Cap Rate 9%

$1,413,456 $1.4M

Is this asking price fair?

Market Conditions

NOI Build-Up for 23,592 SF

Gross rent

$192.5K $8.16/SF

− Vacancy

−$10.8K −$0.46/SF

EGI

$181.7K $7.70/SF

− OpEx

−$54.5K −$2.31/SF

NOI

$127.2K $5.39/SF

Area

Macomb County, MI

Vacancy

5.60%

Lease Rate

$8.16 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,544,220

Cap Rate 7%

$1,817,300

Cap Rate 9%

$1,413,456

Alternative Uses

Best Use

Industrial

$1.82M

$1.59M – $2.12M (±1% cap)

NOI $127,211 @ 7.0% cap · market cap 6.78%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$4.42M

$3.86M – $5.15M (±1% cap)

NOI $309,176 @ 7.0% cap · market cap 16.49%

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

Property Analytics

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Current Use

Reger Manufacturing Co Industrial Manufacturer

Suggested Use

Top Pick Real Estate Agency Law Firm Skin Care Clinic Spa & Massage Center Parking Lot & Garage (Bike/Boat/Book/etc) Store

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

22 ft

Clear height

3

Drive-in doors

Yes

Heavy power

Location Intelligence

Trade Area within ½ mile

561

Businesses Nearby

Explore this area Business Placement

Demographics for 48026, MI

14,726

Population

6,778

Households

2.2

Avg Household Size

44

Median Age

21%

College-Educated

91%

High-School Grad

4.1 sq mi

ZIP Area

3,592

Density / Sq Mi

$61,118

Median Household Income

$40,198

Median Earnings

$827

Median Rent

$193,600

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?

Manufacturing property - Manufacturing facility features crane coverage, multiple grade-level doors, and 16 to 22-foot clear heights.

Where is this manufacturing property located?

The property is located at 31375 Fraser Dr Fraser, MI.

What is the asking price?

The asking price for this property is $1,875,000.

What are key features of this property?

This property features: 23,592 SF manufacturing building built in 1971, available for lease or sale; Crane coverage includes (3) 5‑ton cranes and (1) 10‑ton crane; 480V 3‑phase power with 2,800 amps, plus transformer, bus ducts, and airlines throughout