Flex Industrial Facility with Dock
For Sale
Contact for pricing
41369 VINCENTI CT, Novi, MI 48375
Light Industrial-zoned facility combines office space with air-conditioned shop space and grade-level and dock loading.
Property Size12,446 SF
Price / SF$169.93
Days on Market13
Property Features for 41369 VINCENTI CT
General Information
Standard status
Active
Size
12,446 SF
Property subtype
Office, Industrial
Zoning
Light Industrial
Investment Type
Owner/User
Warehouse & Industrial
Clear Height
19 ft
Warehouse Space
10,446 SF
Sprinkler System
Yes
Additional Details
Highway Access
Yes
Building Details
Year Built
1983
Year Renovated
2015
Buildings
1
Stories
1
Units
1
Building Size
12,446 SF
Listing Agency:
RH Commercial Realty
(248) 207-5847
Listed By:
Nate Hughes · License #6501433129
Source:
Crexi
Added: Aug 18
Changed: Aug 28
Last Checked: Aug 28 at 4:11PM
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 RH Commercial Realty
Investment Insights
Based on property information with market context.
Built in 1983, this 12,446-square-foot flex facility combines office and industrial areas within a Light Industrial-zoned property. The building offers 19'+ clearance, grade-level and dock loading, an air-conditioned shop area, and fire suppression. Office space can be configured at approximately 2,000 square feet, leaving 10,446 square feet for warehouse use.
The property is located in Novi near full-service I-96 interchanges at Novi Road and the M-5 interchange at Halsted Road. Its combination of office, shop, and warehouse areas provides a practical format for industrial operations requiring both workspace and loading access.
The property is located in Novi near full-service I-96 interchanges at Novi Road and the M-5 interchange at Halsted Road. Its combination of office, shop, and warehouse areas provides a practical format for industrial operations requiring both workspace and loading access.
Key Highlights
- 12,446 SF flex facility built in 1983
- 19'+ clearance within the facility
- Grade‑level and dock loading 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
$128,726
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
6.09%
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%
$2,574,520
$2.6M
Cap Rate 7%
$1,838,943
$1.8M
Cap Rate 9%
$1,430,289
$1.4M
Market Conditions
NOI Build-Up for 12,446 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
$224.0K $18.00/SF
− Vacancy
−$26.0K −$2.09/SF
EGI
$198.0K $15.91/SF
− OpEx
−$69.3K −$5.57/SF
NOI
$128.7K $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 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%
$2,574,520
Cap Rate 7%
$1,838,943
Cap Rate 9%
$1,430,289
Alternative Uses
Best Use
Flex RnD
$1.84M
$1.61M – $2.15M
NOI $128,726 @ 7.0% cap · market cap 6.09%
Second Best
Warehouse
$1.07M
$936.0K – $1.25M
NOI $74,879 @ 7.0% cap · market cap 3.54%
Theoretical Best
Specialty Retail
$2.68M
$2.35M – $3.13M
NOI $187,915 @ 7.0% cap · market cap 8.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
19 ft
Clear height
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
706
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Light Industrial-zoned facility combines office space with air-conditioned shop space and grade-level and dock loading.
Where is this flex space located?
The property is located at 41369 VINCENTI CT Novi, MI.
What is the asking price?
The asking price for this property is $2,115,000.
What are key features of this property?
This property features: 12,446 SF flex facility built in 1983; 19'+ clearance within the facility; Grade‑level and dock loading doors
