Manufacturing Facility With Two
For Sale
$2,300,000
Pending
31666 W 8 Mile Road, Farmington, MI 48336
COMMERCIAL - Farmington, MI
Property Size28,148 SF
Lot Size2.76 Acres
Days on Market681
Property Features for 31666 W 8 Mile Road
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Elementary school district
Clarenceville
Middle school district
Clarenceville
High school district
Clarenceville
Directions
Eight Mile Between Farmington Rd and Orchard Lake Rd
Subdivision
Oakland County - 70
Standard status
Pending
APN
23-34-426-025
Size
28,148 SF
Lot size
2.76 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
T1N, R9E, SEC 34 SUPERVISOR'S PLAT NO 13 E 200 FT OF W 400 FT OF LOT 1 EXC NLY 120 FT
Tax Annual Amount
24863
Legal Description
T1N, R9E, SEC 34 SUPERVISOR'S PLAT NO 13 E 200 FT OF W 400 FT OF LOT 1 EXC NLY 120 FT
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1966
Floors in Building
1
Number of units
2
Building materials
Block, Brick
Listing Agency:
Global Real Estate Consulting
(734) 277-8473
Listed By:
Dorothy Ohara Blizard · License #6502405809
(734) 277-8473
Added: Oct 1, 2024
Changed: Aug 4
Last Checked: Aug 12 at 6:06PM
MLS# 24051701
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This manufacturing property comprises two buildings with a combined configuration suited to production, storage, and administrative functions. The primary structure contains approximately 22,460 square feet, including 3,000 square feet of office space, 15,000 square feet of floor area with ceilings reaching 24 feet, 1,500 square feet of laboratory space, and a 3,000-square-foot second-floor office and break room. Central air conditioning serves the main building, which also has three grade-level doors and a loading dock.
A separate 5,687-square-foot building adds four grade-level doors. The property includes two adjoining parcels at 31666 W 8 Mile Road in Farmington, Michigan. Site improvements include a recently resurfaced and re-striped lot, while the main building has fresh paint and new epoxy flooring. Block and brick construction, forced-air heating, and central air are included.
A separate 5,687-square-foot building adds four grade-level doors. The property includes two adjoining parcels at 31666 W 8 Mile Road in Farmington, Michigan. Site improvements include a recently resurfaced and re-striped lot, while the main building has fresh paint and new epoxy flooring. Block and brick construction, forced-air heating, and central air are included.
Key Highlights
- Two‑building manufacturing property at 31666 W 8 Mile Road, Farmington, MI 48336
- Main building contains approximately 22,460 sq. ft. with 15,000 sq. ft. of floor space
- Main building includes 3,000 sq. ft. of office space and 1,500 sq. ft. lab space
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
$169,348
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
7.36%
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%
$3,386,960
$3.4M
Cap Rate 7%
$2,419,257
$2.4M
Cap Rate 9%
$1,881,644
$1.9M
Market Conditions
NOI Build-Up for 28,148 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
$206.9K $7.35/SF
− Vacancy
−$7.7K −$0.27/SF
EGI
$199.2K $7.08/SF
− OpEx
−$29.9K −$1.06/SF
NOI
$169.3K $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 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%
$3,386,960
Cap Rate 7%
$2,419,257
Cap Rate 9%
$1,881,644
Alternative Uses
Best Use
Flex RnD
$4.16M
$3.64M – $4.85M
NOI $291,129 @ 7.0% cap · market cap 12.66%
Second Best
Warehouse
$2.42M
$2.12M – $2.82M
NOI $169,348 @ 7.0% cap · market cap 7.36%
Theoretical Best
Specialty Retail
$6.07M
$5.31M – $7.08M
NOI $424,990 @ 7.0% cap · market cap 18.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
726
Businesses Nearby
Explore this area
Business Placement
Demographics for 48336, MI
26,802
Population
12,296
Households
2.2
Avg Household Size
42
Median Age
44%
College-Educated
92%
High-School Grad
9.3 sq mi
ZIP Area
2,882
Density / Sq Mi
$85,325
Median Household Income
$54,077
Median Earnings
$1,141
Median Rent
$247,600
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?
Manufacturing property - Two-building manufacturing property with air conditioning, office areas, lab space, loading access, and fenced outdoor grounds.
Where is this manufacturing property located?
The property is located at 31666 W 8 Mile Road Farmington, MI.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Two‑building manufacturing property at 31666 W 8 Mile Road, Farmington, MI 48336; Main building contains approximately 22,460 sq. ft. with 15,000 sq. ft. of floor space; Main building includes 3,000 sq. ft. of office space and 1,500 sq. ft. lab space
