Industrial Building with
450 S Glaspie St Oxford, MI 48371
450 S Glaspie St, Oxford, MI, 48371
$2,450,000
For Sale
$2,450,000
Industrial building offers 20' clear ceiling height, clear-span layout, and fenced, secured, lit outdoor storage.
Property Size15,661 SF
Lot Size2.50 Acres
Price / SF$156.44
Days on Market169
Property Features for 450 S Glaspie St
General Information
- Standard status
- Active
- Size
- 15,661 SF
- Lot size
- 2.50 Acres
- Property subtype
- Industrial
Listing agency
Friedman Integrated Real Estate
(248) 324-2000
Listed by
Larry Schultz
(248) 324-2000
Source
Cpix.resimplifi
Added: Feb 2 Updated: Jul 21 at 1:17PM Checked: Jul 21 at 1:17PM
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 Friedman Integrated Real Estate
Investment Insights
Based on property information with market context.
A 15,661 SF industrial building available for sale in Oxford, Michigan, situated on approximately 2.5 acres of fenced, secured, and lit outside storage. The facility includes four 14' high drive-in doors and one truck well, supporting practical loading and storage operations.
The warehouse area features clear span construction with no columns and 20' clear ceiling height, with LED lighting, radiant heat, and air lines. Electrical service is listed as 600A, 240V, 3-phase.
Office space is finished with epoxy floors and includes a large reception area, an approximately 1,000 SF open area that can function as a showroom or collaborative space, plus three private offices. The building also references enhanced systems from a former dispensary, including accent lighting, video monitoring, a security alarm, and a secure storage room, and original floor plans are available.
The warehouse area features clear span construction with no columns and 20' clear ceiling height, with LED lighting, radiant heat, and air lines. Electrical service is listed as 600A, 240V, 3-phase.
Office space is finished with epoxy floors and includes a large reception area, an approximately 1,000 SF open area that can function as a showroom or collaborative space, plus three private offices. The building also references enhanced systems from a former dispensary, including accent lighting, video monitoring, a security alarm, and a secure storage room, and original floor plans are available.
Key Highlights
- 15,661 SF industrial building on 2.5 acres in Oxford
- 20' clear ceiling height with clear‑span interior (no columns)
- Outside storage is fenced, secured, and lit
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 | $281.9k | $18.00 |
| − Vacancy | −$32.7k | −$2.09 |
| EGI | $249.2k | $15.91 |
| − OpEx | −$87.2k | −$5.57 |
| NOI | $162.0k | $10.34 |
15,661 SF · lease $18.00/SF/yr · vacancy 11.60% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$2.31M
$2.02M – $2.70M
NOI $161,979 @ 7.0% cap · market cap 6.61%
Second Best
Warehouse
$1.35M
$1.18M – $1.57M
NOI $94,222 @ 7.0% cap · market cap 3.85%
Theoretical Best
Specialty Retail
$3.38M
$2.96M – $3.94M
NOI $236,456 @ 7.0% cap · market cap 9.65%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Cookies Oxford
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - Industrial building offers 20' clear ceiling height, clear-span layout, and fenced, secured, lit outdoor storage.
Where is this flex space located?
The property is located at 450 S Glaspie St Oxford, MI.
What is the asking price?
The asking price for this property is $2,450,000.
What are key features of this property?
This property features: 15,661 SF industrial building on 2.5 acres in Oxford; 20' clear ceiling height with clear‑span interior (no columns); Outside storage is fenced, secured, and lit
