Flex Space With Crane
New
For Sale
$895,000
46400 Continental Drive, Chesterfield, MI 48047
COMMERCIAL - Chesterfield, MI
Property Size7,128 SF
Lot Size1.55 Acres
Price / SF$125.56
Days on Market4
Property Features for 46400 Continental Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Industrial
Parking features
Parking Lot
Lot features
Main Street
Subdivision
Chesterfield Twp (50009)
Standard status
Active
APN
09-32-151-051
Size
7,128 SF
Lot size
1.55 Acres
Taxes and HOA fees
Tax Year
2014
Tax Annual Amount
22022
Utilities
Heating system
Radiant
Water source
Public
Building Details
Year built
1997
Listing Agency:
Pilot Property Group - Residential LLC
(586) 254-0900
Listed By:
Anthony Rubino · License #6502425251
(586) 873-5419
Added: Aug 13
Last Checked: Aug 16 at 6:06PM
MLS# 50218400
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.
This 7,128-square-foot flex property includes a clear-span crane bay and two-story office space. The facility was built in 1997 and is fully air-conditioned, with radiant heating also serving the building. A parking lot supports on-site vehicle access, while public water is available.
The property occupies 1.55 acres at 46400 Continental Drive in Chesterfield, Michigan, within Macomb County. Its combination of industrial work space, dedicated office areas, high-bay configuration, and existing building systems provides a practical format for a range of commercial operations.
The property occupies 1.55 acres at 46400 Continental Drive in Chesterfield, Michigan, within Macomb County. Its combination of industrial work space, dedicated office areas, high-bay configuration, and existing building systems provides a practical format for a range of commercial operations.
Key Highlights
- 7,128‑square‑foot flex facility on 1.55 acres
- Clear‑span crane bay with high‑bay industrial space
- Two‑story office component with full air conditioning
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
125
Businesses Nearby
Under-served
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 - Industrial facility combining a clear-span work area with two-story offices and full air conditioning.
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: 7,128‑square‑foot flex facility on 1.55 acres; Clear‑span crane bay with high‑bay industrial space; Two‑story office component with full air conditioning
