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    Clear-Span Industrial Warehouse Space Title is generated by Realmo AI

    46266 Erb Drive, Macomb, MI 48042

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    For Lease
    $11,145/Mo $12 SF/Yr (calc)

    COMMERCIAL - Macomb, MI

    Property size:
    10,700 SF
    Lot size:
    5.20 Acres
    Added:
    May 11, 2026
    Days on Market:
    25
    Last Refresh:
    Jun 4 at 12:06 am

    Property Features for 46266 Erb Drive

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Parking features
    Parking Lot
    Standard status
    Active
    APN
    20-08-36-278-006
    Size
    10,700 SF
    Lot size
    5.20 Acres

    Utilities

    Heating system
    Radiant
    Water source
    Public

    Building Details

    Year built
    2018

    We can help!

    Listing Contact
    Anthony Rubino
    Anthony Rubino

    Listing agent Anthony Rubino License #6502425251

    Listing office Pilot Property Group - Residential LLC 38600 Van Dyke Ste 325, Shelby Twp, MI

    Listing date May 11, 2026

    MLS# 50207111

    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.

    HighLights

    • 5,357 SF main road industrial space for lease at the corner of Erb Dr. and Gratiot
    • Corner location with strong Gratiot exposure and convenient access to I‑94 or M‑59/Hall Rd
    • Clear span construction with epoxy floor throughout
    • Radiant heating and plenty of natural daylight
    • Parking lot on site
    • No office build‑out in the unit yet

    Overview

    This main-road industrial warehouse offers clear-span construction and an epoxy floor throughout, with plenty of natural daylight. The space is described as clean and ready for occupancy. There is no office buildout in place, allowing tenants to configure the interior to suit their operations.

    The property is located at a corner off Erb Drive and Gratiot, just south of 21 Mile in Macomb, MI. The listing highlights strong Gratiot exposure and proximity to major routes, noting that the location is minutes from I-94 or M-59/Hall Rd.

    For tenants seeking an efficient, open warehouse environment, the clear-span layout can support a range of light industrial and storage use cases that benefit from unobstructed space. With an epoxy floor already installed, the unit is positioned for immediate deployment, while the absence of an existing office buildout can reduce initial constraints for companies planning customer-facing or administrative space separately.
    Property Profile Location Intelligence

    Current Use by Public Records

    Askar Heating and Cooling, ... HVAC Service

    Suggested Use

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

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

    Similar Places Nearby

    • Macomb Mini Storage — 45430 N Gratiot Ave, Macomb, MI 48042
    • All Safe Storage Chesterfield — 25542 21 Mile Rd, New Baltimore, MI 48051
    • Mini Maxi Self Storage — 47555 Southbound, Gratiot Ave, Chesterfield, MI 48051
    • Public Storage — 47555 Gratiot Ave, Chesterfield, MI 48051

    Location Insight

    • Map
    • Local Demand
    City
    Macomb
    County
    Macomb
    State
    Michigan
    Longitude
    -82.85746
    Latitude
    42.639248

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    FAQs

    What type of property is this?
    Warehouse - Clean, clear-span warehouse with epoxy flooring and natural daylight, ready for occupancy with no office buildout.
    Where is this warehouse located?
    The property is located at 46266 Erb Drive Macomb, MI.
    What is the lease rate?
    The lease rate is $11,145 /Mo.
    What are key features of this property?
    This property features: 5,357 SF main road industrial space for lease at the corner of Erb Dr. and Gratiot; Corner location with strong Gratiot exposure and convenient access to I‑94 or M‑59/Hall Rd; Clear span construction with epoxy floor throughout
    (586) 873-5419
    We can help!
    Listing Contact
    Anthony Rubino
    Anthony Rubino
    Real Estate License ID: 6502425251
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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