Manufacturing Building with
For Sale
$3,995,000
451 E Wilson Street, Pontiac, MI 48341
COM/IND/BUS OPP, Pontiac, MI
Property Size46,461 SF
Lot Size2.14 Acres
Price / SF$85.99
Days on Market870
Property Features for 451 E Wilson Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Industrial
Subdivision
Ferry Farm Add
Standard status
Active
APN
14-33-435-017
Size
46,461 SF
Lot size
2.14 Acres
Utilities
Water source
Public
Amenities
security system
Building Details
Year built
1970
Listing Agency:
Pilot Property Group - Residential LLC
(586) 254-0900
Listed By:
Alexander Termini · License #6501392648
(586) 291-0499
Added: Apr 4, 2024
Changed: Aug 19
Last Checked: Aug 21 at 6:06PM
MLS# 50137705
Copyright © 2026 Multiple Listing Service MiRealSource. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The 46,461-square-foot manufacturing facility occupies 2.14 acres and includes remodeled offices and bathrooms alongside a shop with a newly poured 8-inch reinforced concrete floor. Shop improvements include LED lighting, 2-inch spray foam insulation, heavy bus duct electrical service, distributed air lines, and ceiling heights of 25–35 feet under hook. Seven cranes range from 5 tons to 50 tons, including a 10-ton auxiliary crane. Security features include cameras, an alarm, and key-card entry. An oil/water separator serves the interior drains, and two waste-oil burners are negotiable with the sale.
The exterior features a new roof, skylights, gutters, fresh paint, four newer bay doors, paved material-bin pads, and 8-inch reinforced concrete around the building. The property also includes a 2,000-square-foot storage building and an outside-storage permit for vehicles. Public water serves the site at 451 E Wilson Street in Pontiac, Michigan.
The exterior features a new roof, skylights, gutters, fresh paint, four newer bay doors, paved material-bin pads, and 8-inch reinforced concrete around the building. The property also includes a 2,000-square-foot storage building and an outside-storage permit for vehicles. Public water serves the site at 451 E Wilson Street in Pontiac, Michigan.
Key Highlights
- 46,461 SF manufacturing facility on 2.14 acres
- Seven cranes ranging from 5 tons to 50 tons, including a 10‑ton auxiliary crane
- 25–35 ft ceiling height under hook
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
$230,197
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
5.76%
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%
$4,603,940
$4.6M
Cap Rate 7%
$3,288,529
$3.3M
Cap Rate 9%
$2,557,744
$2.6M
Market Conditions
NOI Build-Up for 46,461 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
$341.5K $7.35/SF
− Vacancy
−$12.6K −$0.27/SF
EGI
$328.9K $7.08/SF
− OpEx
−$98.7K −$2.12/SF
NOI
$230.2K $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 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%
$4,603,940
Cap Rate 7%
$3,288,529
Cap Rate 9%
$2,557,744
Alternative Uses
Best Use
Industrial
$3.29M
$2.88M – $3.84M
NOI $230,197 @ 7.0% cap · market cap 5.76%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$10.02M
$8.77M – $11.69M
NOI $701,487 @ 7.0% cap · market cap 17.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
35 ft
Clear height
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
194
Businesses Nearby
Explore this area
Business Placement
Demographics for 48341, MI
16,980
Population
8,601
Households
2
Avg Household Size
38
Median Age
24%
College-Educated
86%
High-School Grad
6.7 sq mi
ZIP Area
2,534
Density / Sq Mi
$46,185
Median Household Income
$34,200
Median Earnings
$917
Median Rent
$124,600
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Manufacturing property - Remodeled offices and bathrooms support a high-clearance shop with upgraded electrical, lighting, insulation, and access controls.
Where is this manufacturing property located?
The property is located at 451 E Wilson Street Pontiac, MI.
What is the asking price?
The asking price for this property is $3,995,000.
What are key features of this property?
This property features: 46,461 SF manufacturing facility on 2.14 acres; Seven cranes ranging from 5 tons to 50 tons, including a 10‑ton auxiliary crane; 25–35 ft ceiling height under hook
