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    Well-Maintained Building on Grand River Title is generated by Realmo AI

    40350 Grand River Avenue, Novi, MI 48375

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    Extremely well-maintained building with frontage on Grand River Avenue.

    Type:Office, Industrial
    Property size:
    11,050 SF
    Price / SF:
    $199/SF
    Added:
    Aug 21, 2025
    Days on Market:
    315
    Last Refresh:
    Mar 17 at 1:22 pm

    Property Features for 40350 Grand River Avenue

    General Information

    Standard status
    Active
    Size
    11,050 SF
    Property subtype
    Office, Industrial

    Building Details

    Year Built
    1996

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    Jeff Lemanski

    Listing office Signature Associates

    Listing date Aug 21, 2025

    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

    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.
    • Warehouse features a 12'x14' grade level door and enclosed shipping area.
    • Warehouse equipped with LED lighting and radiant tube heating.
    • Potential to add a truck well and/or additional parking.

    Overview

    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.

    Local Financial Insights For Flex RnD

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $198.9k $18.00
    − Vacancy −$23.1k −$2.09
    EGI $175.8k $15.91
    − OpEx −$61.5k −$5.57
    NOI $114.3k $10.34
    11,050 SF · lease $18.00/SF/yr · vacancy 11.60% · expense 35.00%

    Alternative Uses

    Best Use
    Flex RnD
    $1.63M
    $1.43M – $1.90M (±1% cap)
    NOI $114,288 @ 7.0% cap · market cap 5.19%
    Second Best
    Warehouse
    $949.7K
    $831.0K – $1.11M (±1% cap)
    NOI $66,481 @ 7.0% cap · market cap 3.02%
    Theoretical Best
    Specialty Retail
    $2.38M
    $2.09M – $2.78M (±1% cap)
    NOI $166,837 @ 7.0% cap · market cap 7.58%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Conserva Electric Supply Big Box & Wholesale Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Novi
    County
    Oakland
    State
    Michigan
    Longitude
    -83.4443264
    Latitude
    42.4744957

    FAQs

    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.
    More about this property
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