Flex Space with Crane
For Sale
$895,000
46400 Continental Drive, Chesterfield, MI 48047
Two-story office component accompanies a fully air-conditioned industrial workspace.
Property Size7,128 SF
Days on Market16
Property Features for 46400 Continental Drive
General Information
Standard status
Active
Size
7,128 SF
Property subtype
Commercial
Zoning
Industrial
Warehouse & Industrial
Clear Span
Yes
Conditioned Warehouse
Yes
Building Details
Building Size
7,128 SF
Year Built
1997
Stories
2
Listing Agency:
Pilot Property Group - Residential LLC
Listed By:
Anthony U Rubino · License #6502425251
(586) 873-5419
Source:
Irishhillsfivestarhomes
Added: Aug 21
Changed: Sep 4
Last Checked: Sep 1 at 8:51PM
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 Pilot Property Group - Residential LLC
Investment Insights
Based on property information with market context.
Built in 1997, this flex property combines a clear-span crane bay with two levels of corporate-style office space. The entire building is air-conditioned, supporting both industrial and office functions within one integrated facility.
The property is located at 46400 Continental Dr in Chesterfield Township, Michigan. Walk Score is 10 and Bike Score is 28, reflecting a car-dependent setting with limited bike access.
The property is located at 46400 Continental Dr in Chesterfield Township, Michigan. Walk Score is 10 and Bike Score is 28, reflecting a car-dependent setting with limited bike access.
Key Highlights
- Clear‑span crane bay for industrial operations
- Two‑story corporate‑style office configuration
- 100% air‑conditioned building
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
$80,958
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
9.05%
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%
$1,619,160
$1.6M
Cap Rate 7%
$1,156,543
$1.2M
Cap Rate 9%
$899,533
$899.5K
Market Conditions
NOI Build-Up for 7,128 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
$141.1K $19.80/SF
− Vacancy
−$16.6K −$2.33/SF
EGI
$124.6K $17.47/SF
− OpEx
−$43.6K −$6.12/SF
NOI
$81.0K $11.36/SF
Area
Macomb County, MI
Vacancy
11.75%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
35.00%
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%
$1,619,160
Cap Rate 7%
$1,156,543
Cap Rate 9%
$899,533
Alternative Uses
Best Use
Flex RnD
$1.16M
$1.01M – $1.35M
NOI $80,958 @ 7.0% cap · market cap 9.05%
Second Best
Warehouse
$666.7K
$583.4K – $777.9K
NOI $46,671 @ 7.0% cap · market cap 5.21%
Theoretical Best
Specialty Retail
$1.33M
$1.17M – $1.56M
NOI $93,413 @ 7.0% cap · market cap 10.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
123
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 48047, MI
39,775
Population
16,765
Households
2.4
Avg Household Size
42
Median Age
29%
College-Educated
94%
High-School Grad
18.0 sq mi
ZIP Area
2,210
Density / Sq Mi
$95,381
Median Household Income
$50,151
Median Earnings
$1,109
Median Rent
$297,600
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?
Flex space - Two-story office component accompanies a fully air-conditioned industrial workspace.
Where is this flex space located?
The property is located at 46400 Continental Drive Chesterfield, MI.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Clear‑span crane bay for industrial operations; Two‑story corporate‑style office configuration; 100% air‑conditioned building
