Self-Storage Facility with Drive-Up
For Sale
$2,280,000
33833 Garnet Street, Clinton Township, MI 48035
Commercially zoned facility includes climate-controlled storage and automated entry.
Property Size11,412 SF
Lot Size2.08 Acres
Price / SF$199.79
Days on Market214
Property Features for 33833 Garnet Street
General Information
Standard status
Active
Size
11,412 SF
Lot size
2.08 Acres
Property subtype
Commercial
Zoning
Commercial
Lease Term
Cash, Conventional
Net Operating Income
$180,641
Additional Details
Asking Price
$2,280,000
Self-Storage Units
145
Taxes and HOA fees
Annual Taxes
$23,053
Amenities
drive-up access
climate-controlled units
automated gate entry
online rentals
Building Details
Building Size
11,412 SF
Year Built
1974
Stories
1
Listing Agency:
Realty Executives Home Towne
(586) 615-0101
Listed By:
Maurice Khalifa · License #6502376505
(586) 615-0101
Source:
Sabudarealty
Added: Jan 19
Changed: Aug 21
Last Checked: Aug 21 at 3:57AM
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 Realty Executives Home Towne
Investment Insights
Based on property information with market context.
This self-storage facility occupies 2.08 acres and contains approximately 145 units within 11,412 square feet. The unit mix includes drive-up access and select climate-controlled units. Automated gate entry, online rentals, Easy Storage software, and automated payments support day-to-day operations. The property also includes an on-site residential unit and billboard revenue, providing additional operating components beyond storage rentals.
Constructed in 1974, the facility is located in Clinton Charter Township, Michigan, and carries Commercial zoning. The physical layout and access features support a range of storage configurations, while the automated systems streamline customer access, leasing, and payment processing.
Constructed in 1974, the facility is located in Clinton Charter Township, Michigan, and carries Commercial zoning. The physical layout and access features support a range of storage configurations, while the automated systems streamline customer access, leasing, and payment processing.
Key Highlights
- Approximately 145 storage units across 11,412 SF
- 2.08‑acre self‑storage property
- Drive‑up access with select climate‑controlled units
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
$106,981
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
4.69%
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%
$2,139,620
$2.1M
Cap Rate 7%
$1,528,300
$1.5M
Cap Rate 9%
$1,188,678
$1.2M
Market Conditions
NOI Build-Up for 11,412 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
$164.3K $14.40/SF
− Vacancy
−$11.5K −$1.01/SF
EGI
$152.8K $13.39/SF
− OpEx
−$45.8K −$4.02/SF
NOI
$107.0K $9.37/SF
Area
Macomb County, MI
Vacancy
7.00%
Lease Rate
$14.40 /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%
$2,139,620
Cap Rate 7%
$1,528,300
Cap Rate 9%
$1,188,678
Alternative Uses
Best Use
Self Storage
$1.53M
$1.34M – $1.78M
NOI $106,981 @ 7.0% cap · market cap 4.69%
Second Best
Warehouse
$1.07M
$934.0K – $1.25M
NOI $74,721 @ 7.0% cap · market cap 3.28%
Theoretical Best
Specialty Retail
$2.14M
$1.87M – $2.49M
NOI $149,556 @ 7.0% cap · market cap 6.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
357
Businesses Nearby
Explore this area
Business Placement
Demographics for 48035, MI
34,018
Population
15,615
Households
2.2
Avg Household Size
40
Median Age
20%
College-Educated
91%
High-School Grad
8.8 sq mi
ZIP Area
3,866
Density / Sq Mi
$69,245
Median Household Income
$41,167
Median Earnings
$1,111
Median Rent
$181,300
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?
Self storage facility - Commercially zoned facility includes climate-controlled storage and automated entry.
Where is this self storage facility located?
The property is located at 33833 Garnet Street Clinton Township, MI.
What is the asking price?
The asking price for this property is $2,280,000.
What are key features of this property?
This property features: Approximately 145 storage units across 11,412 SF; 2.08‑acre self‑storage property; Drive‑up access with select climate‑controlled units
