New Construction Multi-Tenant
For Sale
Contact for pricing
33417 Kelly Rd, Fraser, MI 48026
Newly built multi-tenant warehouse space zoned IR with overhead door (OHD) access for flexible use.
Property Size5,089 SF
Price / SF$98.05
Days on Market499
Property Features for 33417 Kelly Rd
General Information
Standard status
Active
Size
5,089 SF
Property subtype
INDUSTRIAL
Zoning
IR
Building Details
Buildings
2
Tenancy
Multi
Listing Agency:
NAI Farbman - Corporate
Listed By:
Harrison Yaldoo · License #6501433927
(248) 353-0500
Source:
Moodyscre
Added: Apr 25, 2025
Changed: Sep 4
Last Checked: Sep 4 at 2:31PM
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 - Corporate
Investment Insights
Based on property information with market context.
This multi-tenant industrial warehouse offering includes two new construction buildings and provides flexible space from 1,700 SF to 10,100 SF. Available units can be leased or purchased individually, and the buildings can be combined for a total of 10,100 SF.
Each unit is designed with overhead door (OHD) access sized at 10' x 12', supporting practical loading and storage operations. The site is zoned IR (Industrial Restricted).
The property is located at the intersection of 14 Mile and Kelly Rd, at 33417 Kelly Rd in Fraser, MI 48026, providing straightforward access for industrial tenants seeking a purpose-built, multi-tenant warehouse setup.
Each unit is designed with overhead door (OHD) access sized at 10' x 12', supporting practical loading and storage operations. The site is zoned IR (Industrial Restricted).
The property is located at the intersection of 14 Mile and Kelly Rd, at 33417 Kelly Rd in Fraser, MI 48026, providing straightforward access for industrial tenants seeking a purpose-built, multi-tenant warehouse setup.
Key Highlights
- New construction two‑building industrial setup
- 1,700 SF to 10,100 SF available
- Both buildings can be combined for a total of 10,100 SF
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
—
—
no second resolved use
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
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
587
Businesses Nearby
Balanced
Demand for This Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Public Storage — 32775 Groesbeck Hwy, Fraser, MI 48026
- Quick Fast Moving LLC — 17630 Sewel Ave, Fraser, MI 48026
- Extra Space Storage — 34244 Groesbeck Hwy, Clinton Twp, MI 48035
- Baro Mini Storage LLC — 34464 Kelly Rd, Clinton Twp, MI 48035
- General Shredding — 17000 15 Mile Rd, Fraser, MI 48026
Frequently Asked Questions
What type of property is this?
Warehouse - Newly built multi-tenant warehouse space zoned IR with overhead door (OHD) access for flexible use.
Where is this warehouse 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: New construction two‑building industrial setup; 1,700 SF to 10,100 SF available; Both buildings can be combined for a total of 10,100 SF
