Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Macomb Warehouse/Manufacturing Opportunity Title is generated by Realmo AI

    46705 Erb Dr, Macomb, MI 48042

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    20,000 SF building suitable for warehouse or manufacturing.

    Type:Office, Industrial
    Property size:
    20,000 SF
    Price / SF:
    $92/SF
    Added:
    Jan 24, 2025
    Days on Market:
    473
    Last Refresh:
    Mar 17 at 1:14 pm

    Property Features for 46705 Erb Dr

    General Information

    Standard status
    Active
    Size
    20,000 SF
    Property subtype
    Office, Industrial

    Building Details

    Year Built
    1990

    We can help!

    Listing Contact
    John Arthurs
    John Arthurs

    Listing agent John Arthurs License #MI 6501222941

    Listing office P.A. Commercial Corporate & Investment Real Estate

    Listing date Jan 24, 2025

    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 P.A. Commercial Corporate & Investment Real Estate

    HighLights

    • Divisible 20,000 SF building with separately metered utilities.
    • Prime location at 21 Mile Rd & Gratiot Ave, with close proximity to I‑94.
    • Includes 3,600 SF of office/showroom space.
    • Features three (3) 12' x 14' overhead doors and 16' clear height.
    • Offers large fenced outside storage and concrete parking lot.
    • Suitable for warehouse or manufacturing purposes.

    Overview

    This 20,000 square foot building is available for sale or lease and includes 3,600 square feet of office and showroom space. The building can be divided into 11,000 square feet and 9,000 square feet sections, each with separately metered utilities. A 3,600 square foot shop mezzanine is present. The building features a 16-foot clear height and three 12-foot by 14-foot overhead doors. It also includes a large fenced outside storage area and a concrete parking lot, with potential for additional outside storage. The property is suitable for warehouse or manufacturing purposes. It is located at 21 Mile Road and Gratiot Avenue, with proximity to I-94.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Web Design In Detroit Marketing & Advertising

    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.

    Location Insight

    • Map
    • Local Demand
    City
    Macomb
    County
    Macomb
    State
    Michigan
    Longitude
    -82.858452
    Latitude
    42.643915

    Nearby Similar for Sale

    • $24
      8,987 SF

      Hall Road Professional Office Building

      Professional office building with excellent Hall Road exposure and signage.
      22525 Hall Road, Macomb, MI 48042
      View Details
    • $2,479,000
      7,800 SF

      Free Standing Medical Building

      Free standing medical building in a premier location.
      45441 Heydenreich Rd, Macomb, MI 48044
      View Details
    • Contact for pricing
      84,068 SF

      Class A Medical Office Building

      High-end medical office building with expansion potential in high-growth area.
      17900 23 Mile Rd, Macomb, MI 48044
      View Details
    • $1,650,000
      8,474 SF

      Industrial Property with Long-Term Tenant

      Industrial property occupied by Linde Gas since 2007.
      46025 N. Gratiot Ave, Macomb, MI 48042
      View Details

    FAQs

    What type of property is this?
    Flex space - 20,000 SF building suitable for warehouse or manufacturing.
    Where is this flex space located?
    The property is located at 46705 Erb Dr Macomb, MI.
    What is the asking price?
    The asking price for this property is $1,850,000.
    What are key features of this property?
    This property features: Divisible 20,000 SF building with separately metered utilities.; Prime location at 21 Mile Rd & Gratiot Ave, with close proximity to I‑94.; Includes 3,600 SF of office/showroom space.
    (248) 663-0506 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing John Arthurs
    John Arthurs
    Real Estate License ID: MI 6501222941
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    46705 Erb Dr, Macomb, MI 48042
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!