Manufacturing Building with
For Sale
Contact for pricing
38880 Grand River Ave, Farmington, MI 48335
Industrial facility with heavy power, truckwells, and overhead material-handling equipment.
Property Size41,885 SF
Price / SF$100.27
Days on Market238
Property Features for 38880 Grand River Ave
General Information
Standard status
Active
Size
41,885 SF
Total Parking Spaces
50
Property subtype
Industrial
Zoning
II
Warehouse & Industrial
Dock-High Doors
3
Drive-In Doors
3
Power
2,000 amps
Voltage
480 V
Sprinkler System
Yes
Additional Details
Highway Access
Yes
Building Details
Year Built
1972
Buildings
1
Stories
2
Listing Agency:
Signature Associates
Listed By:
Chris D'Angelo · License #MI
(248) 930-2587
Source:
Crexi
Added: Jan 8
Changed: Aug 31
Last Checked: Mar 26 at 12:29AM
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 Signature Associates
Investment Insights
Based on property information with market context.
This 41,885-square-foot manufacturing building, constructed in 1972, is configured for industrial operations and carries II zoning. Building systems include 2000 amps of 480-volt power, buss duct, air lines, and fire suppression. The facility also has 60-foot-wide bays and multiple loading points, including three truckwells, one 8'x8' grade-level door, and two 12'x12' grade-level doors.
Material-handling capacity is supported by two 5-ton cranes. The property is located on Grand River Ave between Haggerty Road and Ten Mile Road, with access to I-275, I-696, I-96, and M-5 through the Grand River/Halsted interchange.
Material-handling capacity is supported by two 5-ton cranes. The property is located on Grand River Ave between Haggerty Road and Ten Mile Road, with access to I-275, I-696, I-96, and M-5 through the Grand River/Halsted interchange.
Key Highlights
- 41,885‑square‑foot manufacturing building constructed in 1972
- 2000 amps of 480‑volt power with buss duct and air lines
- 60' wide bays with fire suppression
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
$251,995
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
6.00%
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%
$5,039,900
$5.0M
Cap Rate 7%
$3,599,929
$3.6M
Cap Rate 9%
$2,799,944
$2.8M
Market Conditions
NOI Build-Up for 41,885 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
$307.9K $7.35/SF
− Vacancy
−$11.4K −$0.27/SF
EGI
$296.5K $7.08/SF
− OpEx
−$44.5K −$1.06/SF
NOI
$252.0K $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%
$5,039,900
Cap Rate 7%
$3,599,929
Cap Rate 9%
$2,799,944
Alternative Uses
Best Use
Warehouse
$3.60M
$3.15M – $4.20M
NOI $251,995 @ 7.0% cap · market cap 6.00%
Second Best
Industrial
$2.96M
$2.59M – $3.46M
NOI $207,525 @ 7.0% cap · market cap 4.94%
Theoretical Best
Specialty Retail
$9.03M
$7.90M – $10.54M
NOI $632,396 @ 7.0% cap · market cap 15.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Dock-high doors
3
Drive-in doors
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
921
Businesses Nearby
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?
Manufacturing property - Industrial facility with heavy power, truckwells, and overhead material-handling equipment.
Where is this manufacturing property located?
The property is located at 38880 Grand River Ave Farmington, MI.
What is the asking price?
The asking price for this property is $4,200,000.
What are key features of this property?
This property features: 41,885‑square‑foot manufacturing building constructed in 1972; 2000 amps of 480‑volt power with buss duct and air lines; 60' wide bays with fire suppression
