Industrial Building with Excess
For Sale
Contact for pricing
46705-46725 Erb Drive, Macomb Township, MI 48042
Industrial building accompanied by excess land in Macomb Township.
Property Size20,000 SF
Price / SF$90
Days on Market9
Property Features for 46705-46725 Erb Drive
General Information
Standard status
Active
Size
20,000 SF
Property subtype
Industrial, Land
Building Details
Building Size
20,000 SF
Listing Agency:
White Horse Real Estate
Listed By:
Josh Miller · License #6502428120
Source:
Crexi
Added: Sep 15
Changed: Sep 18
Last Checked: Sep 22 at 5:02PM
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 White Horse Real Estate
Investment Insights
Based on property information with market context.
This industrial property includes a ±20,000 SqFt building and excess land within the offering. The asset is located at 46705-46725 Erb Drive in Macomb Township, Michigan, providing a substantial industrial building footprint with additional land on the same property.
Key Highlights
- ±20,000 SqFt industrial building
- Excess land included with the property
- Located at 46705‑46725 Erb Drive in Macomb Township, MI
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
$130,952
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
7.28%
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%
$2,619,040
$2.6M
Cap Rate 7%
$1,870,743
$1.9M
Cap Rate 9%
$1,455,022
$1.5M
Market Conditions
NOI Build-Up for 20,000 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
$163.2K $8.16/SF
− Vacancy
−$9.1K −$0.46/SF
EGI
$154.1K $7.70/SF
− OpEx
−$23.1K −$1.16/SF
NOI
$131.0K $6.55/SF
Area
Macomb County, MI
Vacancy
5.60%
Lease Rate
$8.16 /SF/Yr
Expense Ratio
15.00%
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%
$2,619,040
Cap Rate 7%
$1,870,743
Cap Rate 9%
$1,455,022
Alternative Uses
Best Use
Warehouse
$1.87M
$1.64M – $2.18M
NOI $130,952 @ 7.0% cap · market cap 7.28%
Second Best
Industrial
$1.54M
$1.35M – $1.80M
NOI $107,843 @ 7.0% cap · market cap 5.99%
Theoretical Best
Specialty Retail
$3.74M
$3.28M – $4.37M
NOI $262,103 @ 7.0% cap · market cap 14.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
337
Businesses Nearby
Explore this area
Business Placement
Demographics for 48042, MI
33,398
Population
12,067
Households
2.8
Avg Household Size
42
Median Age
39%
College-Educated
96%
High-School Grad
22.8 sq mi
ZIP Area
1,465
Density / Sq Mi
$125,433
Median Household Income
$61,261
Median Earnings
$1,569
Median Rent
$374,100
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Industrial property - Industrial building accompanied by excess land in Macomb Township.
Where is this industrial property located?
The property is located at 46705-46725 Erb Drive Macomb Township, MI.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: ±20,000 SqFt industrial building; Excess land included with the property; Located at 46705‑46725 Erb Drive in Macomb Township, MI
