Fraser Industrial Building For
For Sale
$499,000
33417 Kelly Rd, Fraser, MI 48026
5,089 SF industrial building with fenced lot in Fraser.
Property Size5,089 SF
Price / SF$98.05
Days on Market272
Property Features for 33417 Kelly Rd
General Information
Standard status
Active
Size
5,089 SF
Property subtype
Industrial
Building Details
Building Size
5,089 SF
Year Built
1978
Listing Agency:
NAI Farbman
(313) 953-0430
Listed By:
Harrison Yaldoo · License #6501410787
Source:
Naiglobal
Added: Nov 21, 2025
Changed: Aug 13
Last Checked: Aug 20 at 5:14AM
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 NAI Farbman
Investment Insights
Based on property information with market context.
This 5,089 square foot industrial building is available for sale in Fraser, Michigan. The property is located off 14 Mile Road, between Kelly and Groesbeck. It is currently occupied by a single tenant industrial user. The property includes a private fenced lot adjacent to the building. A 3-year MG lease is in place, with the tenant responsible for utilities and maintenance.
Key Highlights
- 3‑year MG lease in place - tenant pays utilities and maintenance
- Single Tenant Industrial User
- Private Fenced Lot Adjacent to the Building
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
$33,321
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
6.68%
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%
$666,420
$666.4K
Cap Rate 7%
$476,014
$476.0K
Cap Rate 9%
$370,233
$370.2K
Market Conditions
NOI Build-Up for 5,089 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
$41.5K $8.16/SF
− Vacancy
−$2.3K −$0.46/SF
EGI
$39.2K $7.70/SF
− OpEx
−$5.9K −$1.16/SF
NOI
$33.3K $6.55/SF
Area
Macomb County, MI
Vacancy
5.60%
Lease Rate
$8.16 /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%
$666,420
Cap Rate 7%
$476,014
Cap Rate 9%
$370,233
Alternative Uses
Best Use
Warehouse
$476.0K
$416.5K – $555.4K
NOI $33,321 @ 7.0% cap · market cap 6.68%
Second Best
Industrial
$392.0K
$343.0K – $457.4K
NOI $27,441 @ 7.0% cap · market cap 5.50%
Theoretical Best
Specialty Retail
$952.7K
$833.7K – $1.11M
NOI $66,692 @ 7.0% cap · market cap 13.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
587
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Industrial property - 5,089 SF industrial building with fenced lot in Fraser.
Where is this industrial property located?
The property is located at 33417 Kelly Rd Fraser, MI.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 3‑year MG lease in place - tenant pays utilities and maintenance; Single Tenant Industrial User; Private Fenced Lot Adjacent to the Building
