Well-Maintained Building on Grand
For Sale
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40350 Grand River Avenue, Novi, MI 48375
Extremely well-maintained building with frontage on Grand River Avenue.
Property Size11,050 SF
Price / SF$199.10
Days on Market412
Property Features for 40350 Grand River Avenue
General Information
Standard status
Active
Size
11,050 SF
Total Parking Spaces
28
Property subtype
Office, Industrial
Zoning
Light Industrial
Building Details
Year Built
1996
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Signature Associates
Listed By:
Jeff Lemanski · License #MI
Source:
Crexi
Added: Aug 21, 2025
Changed: Sep 24
Last Checked: Oct 5 at 3:56PM
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 well-maintained building features frontage on Grand River Avenue. The office area includes two executive offices with restrooms, three private offices, a lunchroom, and an open area. There are also two restrooms and 9-foot ceilings in the office space. The warehouse portion of the building includes a 12'x14' grade-level door, an enclosed shipping area, painted walls and floors, LED lighting, and radiant tube heating. The property offers the potential to add a truck well and/or additional parking. The property size is 11,050 square feet.
Key Highlights
- Grand River Avenue frontage offers high visibility and accessibility.
- Well‑maintained building suitable for immediate occupancy.
- Functional office space includes executive offices, private offices, lunchroom and open area.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$114,288
Cap Rate
5.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,285,760
$2.3M
Cap Rate 7%
$1,632,686
$1.6M
Cap Rate 9%
$1,269,867
$1.3M
Market Conditions
NOI Build-Up for 11,050 SF
Gross rent
$198.9K $18.00/SF
− Vacancy
−$23.1K −$2.09/SF
EGI
$175.8K $15.91/SF
− OpEx
−$61.5K −$5.57/SF
NOI
$114.3K $10.34/SF
Area
Oakland County, MI
Vacancy
11.60%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,285,760
Cap Rate 7%
$1,632,686
Cap Rate 9%
$1,269,867
Alternative Uses
Best Use
Flex RnD
$1.63M
$1.43M – $1.90M
NOI $114,288 @ 7.0% cap · market cap 5.19%
Second Best
Industrial
$782.1K
$684.4K – $912.5K
NOI $54,749 @ 7.0% cap · market cap 2.49%
Theoretical Best
Specialty Retail
$2.38M
$2.09M – $2.78M
NOI $166,837 @ 7.0% cap · market cap 7.58%
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
883
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48375, MI
23,237
Population
10,223
Households
2.3
Avg Household Size
40
Median Age
63%
College-Educated
98%
High-School Grad
8.4 sq mi
ZIP Area
2,766
Density / Sq Mi
$112,978
Median Household Income
$70,326
Median Earnings
$1,880
Median Rent
$348,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Extremely well-maintained building with frontage on Grand River Avenue.
Where is this flex space located?
The property is located at 40350 Grand River Avenue Novi, MI.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Grand River Avenue frontage offers **high visibility and accessibility**.; Well‑maintained building suitable for immediate occupancy.; Functional office space includes executive offices, private offices, lunchroom and open area.
