Warehouse with Front
New
For Sale
$990,000
32049 Milton Ave, Madison Heights, MI 48071
The building combines warehouse space with dedicated front and shop offices, plus a mezzanine office.
Property Size10,757 SF
Price / SF$92.03
Days on Market3
Property Features for 32049 Milton Ave
General Information
Standard status
Active
Size
10,757 SF
Property subtype
Industrial
Warehouse & Industrial
Warehouse Space
9,457 SF
Office Build-Out
1,100 SF
Mezzanine
650 SF
Listing Agency:
Detroit
Listed By:
Peter Kepic
(248) 226-1842
Source:
Colliers
Added: Sep 24
Last Checked: Sep 24 at 2:09PM
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 Detroit
Investment Insights
Based on property information with market context.
This warehouse property totals 10,757 square feet, with 9,457 square feet dedicated to warehouse space. The layout also includes a 1,100-square-foot front office, a 650-square-foot shop office, and a 650-square-foot mezzanine office.
Located at 32049 Milton Ave in Madison Heights, Michigan, the property is offered for sale.
Located at 32049 Milton Ave in Madison Heights, Michigan, the property is offered for sale.
Key Highlights
- 10,757‑square‑foot warehouse property
- 9,457 square feet of warehouse space
- 1,100‑square‑foot front office
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
$64,718
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
6.54%
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%
$1,294,360
$1.3M
Cap Rate 7%
$924,543
$924.5K
Cap Rate 9%
$719,089
$719.1K
Market Conditions
NOI Build-Up for 10,757 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
$79.1K $7.35/SF
− Vacancy
−$2.9K −$0.27/SF
EGI
$76.1K $7.08/SF
− OpEx
−$11.4K −$1.06/SF
NOI
$64.7K $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%
$1,294,360
Cap Rate 7%
$924,543
Cap Rate 9%
$719,089
Alternative Uses
Best Use
Warehouse
$924.5K
$809.0K – $1.08M
NOI $64,718 @ 7.0% cap · market cap 6.54%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.32M
$2.03M – $2.71M
NOI $162,413 @ 7.0% cap · market cap 16.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,007
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48071, MI
28,468
Population
14,690
Households
1.9
Avg Household Size
39
Median Age
32%
College-Educated
89%
High-School Grad
7.1 sq mi
ZIP Area
4,010
Density / Sq Mi
$66,726
Median Household Income
$49,151
Median Earnings
$1,138
Median Rent
$190,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
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Similar Off Market Nearby
- Iron Mountain — 1500 E Whitcomb Ave Suite 100 & 300, Madison Heights, MI 48071
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- Open Storage Co — 31900 Dequindre Rd, Warren, MI 48092
- Keep-A-Kamper — 31800 Dequindre Rd, Warren, MI 48092
Frequently Asked Questions
What type of property is this?
Warehouse - The building combines warehouse space with dedicated front and shop offices, plus a mezzanine office.
Where is this warehouse located?
The property is located at 32049 Milton Ave Madison Heights, MI.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: 10,757‑square‑foot warehouse property; 9,457 square feet of warehouse space; 1,100‑square‑foot front office
