Multi-Tenant Industrial
44480 Grand River Ave, Novi, MI 48375
For Sale
$1,850,000
Industrial zoning and a seven-unit layout allow for occupancy across multiple spaces.
Property Size14,260 SF
Price / SF$129.73
Days on Market51
Property Features for 44480 Grand River Ave
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Building Details
Building Size
Year Built
Tenancy
Listing Agency:
Signature Associates - Southfield
Listed By:
Jeffrey Lemanski
(248) 359-0641
Source:
Cpix.resimplifi
Added: Sep 21
Changed: Nov 9
Last Checked: Nov 10 at 5:23AM
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 - Southfield
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 14,260-square-foot industrial property contains seven units and was built in 1976. The multi-tenant configuration supports separate occupancy within the building, and industrial zoning is in place.
The property is on the north side of Grand River Avenue, west of Novi Road, in Novi, Michigan.
The property is on the north side of Grand River Avenue, west of Novi Road, in Novi, Michigan.
Key Highlights
- Seven units in a multi‑tenant industrial building
- 14,260 square feet of building area
- Industrial zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$70,653
Cap Rate
3.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,413,060
$1.4M
Cap Rate 7%
$1,009,329
$1.0M
Cap Rate 9%
$785,033
$785.0K
Market Conditions
NOI Build-Up for 14,260 SF
Gross rent
$104.8K $7.35/SF
− Vacancy
−$3.9K −$0.27/SF
EGI
$100.9K $7.08/SF
− OpEx
−$30.3K −$2.12/SF
NOI
$70.7K $4.95/SF
Area
Oakland County, MI
Vacancy
3.70%
Lease Rate
$7.35 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,413,060
Cap Rate 7%
$1,009,329
Cap Rate 9%
$785,033
Alternative Uses
Best Use
Industrial
$1.01M
$883.2K – $1.18M
NOI $70,653 @ 7.0% cap · market cap 3.82%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.08M
$2.69M – $3.59M
NOI $215,303 @ 7.0% cap · market cap 11.64%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
463
Businesses Nearby
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
$348,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Industrial properties in Oakland County, MI
Properties on Market for Industrial properties in Oakland County
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Industrial property - Industrial zoning and a seven-unit layout allow for occupancy across multiple spaces.
Where is this industrial property located?
The property is located at 44480 Grand River Ave Novi, MI.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Seven units in a multi‑tenant industrial building; 14,260 square feet of building area; Industrial zoning
