Warehouse Building with Truck
New
For Sale
$1,200,000
352 County Center St, Lapeer, MI 48446
Industrial building with overhead access, added land to the east, and immediate possession available.
Property Size11,250 SF
Price / SF$106.67
Days on Market2
Property Features for 352 County Center St
General Information
Standard status
Active
Size
11,250 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$709
Building Details
Building Size
11,250 SF
Listing Agency:
RE/MAX Platinum - Grand Blanc
Listed By:
Scott Myers · License #6506029181
(810) 344-3363
Source:
Elliman
Added: Sep 13
Last Checked: Sep 13 at 2:45PM
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 RE/MAX Platinum - Grand Blanc
Investment Insights
Based on property information with market context.
This warehouse property at 352 County Center St includes approximately 11,250(+/-) sq ft of building area, high ceilings, a truck well, and three overhead doors. The layout also includes additional land on the east side, providing space associated with the property for expanded exposure or future enlargement.
The building is available for sale or lease and can be occupied immediately. Its location in Lapeer, MI is rated 39 for bikeability and 30 for walkability, indicating a car-dependent setting with limited pedestrian access.
The building is available for sale or lease and can be occupied immediately. Its location in Lapeer, MI is rated 39 for bikeability and 30 for walkability, indicating a car-dependent setting with limited pedestrian access.
Key Highlights
- 11,250(+/-) sq ft warehouse building
- Truck well and high ceilings
- Three overhead doors
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
$77,370
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
6.45%
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%
$1,547,400
$1.5M
Cap Rate 7%
$1,105,286
$1.1M
Cap Rate 9%
$859,667
$859.7K
Market Conditions
NOI Build-Up for 11,250 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
$101.3K $9.00/SF
− Vacancy
−$10.2K −$0.91/SF
EGI
$91.0K $8.09/SF
− OpEx
−$13.7K −$1.21/SF
NOI
$77.4K $6.88/SF
Area
Lapeer County, MI
Vacancy
10.10%
Lease Rate
$9.00 /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%
$1,547,400
Cap Rate 7%
$1,105,286
Cap Rate 9%
$859,667
Alternative Uses
Best Use
Warehouse
$1.11M
$967.1K – $1.29M
NOI $77,370 @ 7.0% cap · market cap 6.45%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$1.84M
$1.61M – $2.15M
NOI $128,960 @ 7.0% cap · market cap 10.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
970
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48446, MI
30,788
Population
12,797
Households
2.4
Avg Household Size
45
Median Age
20%
College-Educated
93%
High-School Grad
121.9 sq mi
ZIP Area
253
Density / Sq Mi
$66,382
Median Household Income
$40,263
Median Earnings
$976
Median Rent
$206,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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Similar Off Market Nearby
- Self Storage Secure — 960 Summit St, Lapeer, MI 48446
Frequently Asked Questions
What type of property is this?
Warehouse - Industrial building with overhead access, added land to the east, and immediate possession available.
Where is this warehouse located?
The property is located at 352 County Center St Lapeer, MI.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 11,250(+/-) sq ft warehouse building; Truck well and high ceilings; Three overhead doors
