Light Industrial Clear-Span
For Sale
Contact for pricing
32424 Eight Mile Road, Farmington Hills, MI 48335
Fully leased 3,200 SF light industrial clear-span warehouse features 14' ceiling height and fenced yard with grade-level doors.
Property Size3,200 SF
Price / SF$130
Days on Market54
Property Features for 32424 Eight Mile Road
General Information
Standard status
Active
Size
3,200 SF
Property subtype
Industrial
Zoning
Light Industrial
Occupancy
100%
Investment Type
Net Lease
Site & Location
Road Access
Yes
Fenced Yard
Yes
Warehouse & Industrial
Clear Height
14 ft
Drive-In Doors
2
Sprinkler System
Yes
Building Details
Year Built
1989
Tenancy
Single
Listing Agency:
Burger & Company
Listed By:
Jack Bushart · License #6501442083
(734) 890-4609
Source:
Crexi
Added: Jul 16
Changed: Sep 4
Last Checked: Sep 7 at 4:46AM
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 fully leased warehouse building offers clear-span functionality and a 14' clear height, making it suitable for day-to-day industrial operations. The property includes a fire suppression system and (2) grade level doors sized 10' x 12' and 12' x 12'. The current tenant, Printed Impressions, is in place through 6/30/27, with a 5-year option to renew.
The building is zoned L-1 Light Industrial and has fenced yard space. Access is provided from 8 Mile Road and Whitlock Street.
The offering is a stabilized, light industrial warehouse configuration with clear-span interior space, multiple grade-level loading doors, and on-site yard access for tenant use.
The building is zoned L-1 Light Industrial and has fenced yard space. Access is provided from 8 Mile Road and Whitlock Street.
The offering is a stabilized, light industrial warehouse configuration with clear-span interior space, multiple grade-level loading doors, and on-site yard access for tenant use.
Key Highlights
- Fully leased 3,200 SF light industrial clear‑span warehouse
- Leased to Printed Impressions through 6/30/27 with a 5‑year renewal option
- 14' clear height with fire suppression system in place
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
$19,252
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
4.63%
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%
$385,040
$385.0K
Cap Rate 7%
$275,029
$275.0K
Cap Rate 9%
$213,911
$213.9K
Market Conditions
NOI Build-Up for 3,200 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
$23.5K $7.35/SF
− Vacancy
−$870 −$0.27/SF
EGI
$22.6K $7.08/SF
− OpEx
−$3.4K −$1.06/SF
NOI
$19.3K $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%
$385,040
Cap Rate 7%
$275,029
Cap Rate 9%
$213,911
Alternative Uses
Best Use
Warehouse
$275.0K
$240.7K – $320.9K
NOI $19,252 @ 7.0% cap · market cap 4.63%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$690.2K
$603.9K – $805.3K
NOI $48,315 @ 7.0% cap · market cap 11.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14 ft
Clear height
2
Drive-in doors
100%
Occupancy
Yes
Sprinkler system
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
644
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48335, MI
25,618
Population
11,964
Households
2.1
Avg Household Size
36
Median Age
65%
College-Educated
98%
High-School Grad
7.2 sq mi
ZIP Area
3,558
Density / Sq Mi
$96,359
Median Household Income
$66,646
Median Earnings
$1,451
Median Rent
$366,500
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?
Warehouse - Fully leased 3,200 SF light industrial clear-span warehouse features 14' ceiling height and fenced yard with grade-level doors.
Where is this warehouse located?
The property is located at 32424 Eight Mile Road Farmington Hills, MI.
What is the asking price?
The asking price for this property is $416,000.
What are key features of this property?
This property features: Fully leased 3,200 SF light industrial clear‑span warehouse; Leased to Printed Impressions through 6/30/27 with a 5‑year renewal option; 14' clear height with fire suppression system in place
