Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    395-447 Elmwood Drive Troy, MI 48083

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Commercial space available for lease on Elmwood Drive.

    Type:Industrial
    Added:
    Jan 18, 2023
    Days on Market:
    1189
    Last Refresh:
    Mar 17 at 1:19 pm

    Property Features for 395-447 Elmwood Drive

    General Information

    Standard status
    Active
    Property subtype
    Industrial

    Building Details

    Year Built
    1980

    Spaces For Lease

    at 395-447 Elmwood Drive Contact us

    Unit 413 $10 /Mo

    Size
    3,000 SF
    Type
    Industrial
    Contact us

    Suite 401 $10 /Mo

    Size
    3,770 SF
    Type
    Industrial
    Mthly Rate: $3,440.13/mo
    Contact us

    Unit 411 $10 /Mo

    Size
    2,885 SF
    Type
    Industrial
    Contact us

    Suite 447 $12 /Mo

    Size
    4,650 SF
    Type
    Industrial
    Lease Rate: $12.95/sq. ft. Gross
    Contact us

    We can help!

    Listing Contact
    Kris Pawlowski

    Listing agent Kris Pawlowski License #MI 6501292698

    Listing office Signature Associates

    Listing date Jan 18, 2023

    Source Crexi

    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

    Overview

    Elmwood Drive Commercial Space

    Commercial space is available for lease at 395-447 Elmwood Drive, Troy, MI 48083.
    Location Intelligence

    Current Use by Public Records

    Specialty properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Troy
    County
    Oakland
    State
    Michigan
    Longitude
    -83.1415791
    Latitude
    42.5414203

    Nearby Similar for Lease

    • Contact for pricing

      Small Office Suite For Lease

      260 sq ft office suite available for lease.
      2820 W MAPLE Rd 210B, Troy, MI 48084
      View Details
    • Contact for pricing

      Columbia Center

      101 Big Beaver Rd, Unit 14TH, Troy, MI 48084
      View Details
    • Sponsored
      Contact for pricing

      Liberty Center

      100 Big Beaver Rd, Unit 2500, Troy, MI 48084
      View Details
    • $15/mo

      Move-in Ready Office Sublease

      3,544 SF office space available for immediate sublease.
      901 Wilshire Drive, Troy, MI, 48084
      View Details
    • Contact for pricing

      Versatile Industrial Space in Troy

      10,830 SF warehouse and office space for lease/sale.
      388 Robbins Dr, Troy, MI 48083
      View Details
    • $16/mo

      Troy Office Space Available

      7,003 SF office space for rent in Troy, MI.
      900 Wilshire Drive, Troy, MI, 48084
      View Details
    • Contact for pricing

      Furnished Salon Suites For Rent

      Fully furnished salon suites suitable for various beauty and wellness professionals.
      801 W BIG BEAVER Road 205, Troy City, MI 48084
      View Details
    • $18/mo

      High-Quality Office Space Available

      Office suites available in Troy, Michigan, with convenient access.
      2701 Troy Center Drive, Troy, MI, 48084
      View Details
    • $15/mo

      Troy Office Space Available

      Office space available for lease in Troy, Michigan.
      5700 Crooks Road, Troy, MI, 48098
      View Details
    • $9/mo

      Office Space on Maple Road

      Contiguous office space with high visibility and flexible floorplan.
      600 W Maple Rd, Troy, MI
      View Details
    • Contact for pricing

      5,156 SF Retail Space

      Retail space available for rent.
      4052 Rochester Rd, Troy, MI 48085
      View Details
    • Contact for pricing

      Class A Office Space Available

      Class A office building with suites available for lease.
      1050 Wilshire Dr, Troy, MI 48084
      View Details

    FAQs

    What type of property is this?
    Specialty property - Commercial space available for lease on Elmwood Drive.
    Where is this specialty property located?
    The property is located at 395-447 Elmwood Drive Troy, MI.
    What are key features of this property?
    This property features: For lease; Year built: 1980
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Kris Pawlowski
    Real Estate License ID: MI 6501292698
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!