Manufacturing Property with Road
For Sale
$1,295,000
32121 Schoolcraft, Livonia, MI 48150
Schoolcraft frontage provides access to I-96 and I-275 in Livonia.
Property Size10,331 SF
Days on Market152
Property Features for 32121 Schoolcraft
General Information
Standard status
Active
Size
10,331 SF
Property subtype
Industrial - Manufacturing
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Asking Price
$1,295,000
Building Details
Building Size
10,331 SF
Listing Agency:
Burger & Company
(810) 224-8103
Listed By:
Nicolo Burger · License #6506049079
Source:
Commercialcafe
Added: Apr 2
Changed: Aug 30
Last Checked: Aug 30 at 4:21PM
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 Burger & Company
Investment Insights
Based on property information with market context.
This manufacturing property fronts Schoolcraft in Livonia, providing a visible roadside position for an industrial operation. Signage is visible from I-96, extending the property's exposure beyond the immediate frontage.
The property offers access to both I-96 and I-275, supporting regional connectivity within Livonia and the surrounding Detroit-area market.
The property offers access to both I-96 and I-275, supporting regional connectivity within Livonia and the surrounding Detroit-area market.
Key Highlights
- Manufacturing property in Livonia, MI
- Frontage along Schoolcraft
- Access to I‑96 and I‑275
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
$53,484
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
4.13%
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%
$1,069,680
$1.1M
Cap Rate 7%
$764,057
$764.1K
Cap Rate 9%
$594,267
$594.3K
Market Conditions
NOI Build-Up for 10,331 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
$79.3K $7.68/SF
− Vacancy
−$2.9K −$0.28/SF
EGI
$76.4K $7.40/SF
− OpEx
−$22.9K −$2.22/SF
NOI
$53.5K $5.18/SF
Area
Wayne County, MI
Vacancy
3.70%
Lease Rate
$7.68 /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%
$1,069,680
Cap Rate 7%
$764,057
Cap Rate 9%
$594,267
Alternative Uses
Best Use
Industrial
$764.1K
$668.6K – $891.4K
NOI $53,484 @ 7.0% cap · market cap 4.13%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.91M
$1.67M – $2.23M
NOI $133,890 @ 7.0% cap · market cap 10.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
800
Businesses Nearby
Explore this area
Business Placement
Demographics for 48150, MI
26,573
Population
10,724
Households
2.5
Avg Household Size
42
Median Age
36%
College-Educated
96%
High-School Grad
12.1 sq mi
ZIP Area
2,196
Density / Sq Mi
$94,058
Median Household Income
$50,779
Median Earnings
$1,328
Median Rent
$228,600
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?
Manufacturing property - Schoolcraft frontage provides access to I-96 and I-275 in Livonia.
Where is this manufacturing property located?
The property is located at 32121 Schoolcraft Livonia, MI.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: Manufacturing property in Livonia, MI; Frontage along Schoolcraft; Access to I‑96 and I‑275
