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    New Flex Space in Almont Title is generated by Realmo AI

    4639 Development Dr, Almont, MI 48003

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    New flex space with customization options and tax abatement.

    Type:Industrial
    Property size:
    22,271 SF
    Lot size:
    2.40 Acres
    Price / SF:
    $134/SF
    Added:
    Mar 2, 2026
    Days on Market:
    75
    Last Refresh:
    Mar 16 at 1:54 pm

    Property Features for 4639 Development Dr

    General Information

    Standard status
    Active
    Size
    22,271 SF
    Lot size
    2.40 Acres
    Property subtype
    Industrial

    Building Details

    Year Built
    2026

    We can help!

    Listing Contact
    Perry Pelton
    Perry Pelton

    Listing agent Perry Pelton License #MI 6502388012

    Listing office Perry Pelton

    Listing date Mar 2, 2026

    Source Crexi

    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 Perry Pelton

    HighLights

    • New construction with expected delivery June 2026.
    • Michigan Tax Abatement available.
    • Customizable property to suit specific needs.
    • 22,721 total square feet (2,325 sf office, 20,396 sf warehouse).
    • Convenient location: close proximity to Hwy 53 (0.5 miles) and I‑69 (5 miles).
    • Ample power supply: 1,000 Amps 480/277 volt - 3 phase (75 KVA trnsfmr).

    Overview

    This flex space property, with expected delivery in June 2026, offers a total of 22,721 square feet, including 2,325 square feet of office space and 20,396 square feet of warehouse space. The building features a masonry front office and a metal warehouse. The warehouse has a 20-foot clear height, one loading dock, and one drive-in, at-grade overhead door. Electrical capacity includes 1,000 Amps at 480/277 volts with 3-phase power (75 KVA transformer). The property is situated on an approximately 2.4-acre lot with about 200 feet of road frontage on Development Drive, at the cross street of Research Drive. It includes 45 parking spaces. Located in Almont, MI, the property is half a mile east of Hwy 53 and five miles south of I-69. Additional land is available for outdoor storage, and the property can be customized. A Michigan Tax Abatement is available.

    Financial Insights

    Value Estimation Calculated for Flex RnD

    Conservative
    $2.17M
    NOI $195,211 @ 9.00% cap · cautious / downside scenario
    Moderate
    $2.79M
    NOI $195,211 @ 7.00% cap · market / base-case scenario
    Aggressive
    $3.90M
    NOI $195,211 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
         Calculated for Flex RnD

    Component $ $/SF
    Gross rent $334.1k $15.00
    − Vacancy −$33.7k −$1.52
    EGI $300.3k $13.49
    − OpEx −$105.1k −$4.72
    NOI $195.2k $8.77
    22,271 SF · lease $15.00/SF/yr · vacancy 10.10% · expense 35.00%

    Alternative Use Scenarios

    Best Use
    Flex RnD
    $2.79M
    $2.44M – $3.25M (±1% cap)
    NOI $195,211 @ 7.0% cap · market cap 6.54%
    Second Best
    Warehouse
    $2.19M
    $1.91M – $2.55M (±1% cap)
    NOI $153,165 @ 7.0% cap · market cap 5.13%
    Theoretical Best
    Healthcare Medical
    $3.65M
    $3.19M – $4.25M (±1% cap)
    NOI $255,295 @ 7.0% cap · market cap 8.55%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Almont
    County
    Lapeer
    State
    Michigan
    Longitude
    -83.0375
    Latitude
    42.9337

    FAQs

    What type of property is this?
    Flex space - New flex space with customization options and tax abatement.
    Where is this flex space located?
    The property is located at 4639 Development Dr Almont, MI.
    What is the asking price?
    The asking price for this property is $2,985,000.
    What are key features of this property?
    This property features: New construction with expected delivery June 2026.; Michigan Tax Abatement available.; Customizable property to suit specific needs.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Perry Pelton
    Perry Pelton
    Real Estate License ID: MI 6502388012
    Learn More
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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.

    More about this property
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