Industrial Facility with Expansion
For Sale
$4,595,000
51455 Schoenherr Road, Shelby Twp, MI 48315
Well-maintained 38,388 SF industrial facility with expansion and outside storage.
Property Size39,388 SF
Price / SF$116.66
Days on Market264
Property Features for 51455 Schoenherr Road
General Information
Standard status
Active
Size
39,388 SF
Property subtype
Industrial
Building Details
Building Size
39,388 SF
Year Built
1993
Listing Agency:
Lee & Associates of Michigan
(248) 561-5748
Listed By:
Giancarlo Pinterpe
(248) 561-5748
Source:
Lee-associates
Added: Nov 26, 2025
Changed: Aug 16
Last Checked: Aug 16 at 4:04AM
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 Lee & Associates of Michigan
Investment Insights
Based on property information with market context.
This well-maintained industrial facility features 38,388 square feet of space suitable for manufacturing, assembly, and laboratory operations. The building includes 23-foot clear heights and 47-foot bay widths, providing a column-free environment. Operational assets include a dedicated paint booth, three exterior truck wells, two 12’x14’ overhead doors, and multiple jib cranes. The property is fully fire-suppressed and equipped with 3,000A/240V power, buss duct, and air lines throughout, complemented by 100% air conditioning. A climate-controlled 8,000-square-foot fixture checking lab houses a Coordinate Measuring Machine (CMM), suitable for precision inspection work. The property also includes an 8,448-square-foot two-story office component serviced by an elevator. The rear lot is fully fenced and secured. The site offers expansion potential, with the ability to add approximately 10,000 square feet to the building or to utilize the area for additional outside storage.
Key Highlights
- 38,388 SF industrial facility with 8,448 SF of office space, suitable for manufacturing, assembly, and laboratory operations.
- 8,000 SF climate‑controlled fixture checking lab with CMM, ideal for precision inspection.**
- 23‑foot clear heights and 47‑foot bay widths provide a versatile, column‑free workspace.**
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
$257,896
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
5.61%
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%
$5,157,920
$5.2M
Cap Rate 7%
$3,684,229
$3.7M
Cap Rate 9%
$2,865,511
$2.9M
Market Conditions
NOI Build-Up for 39,388 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
$321.4K $8.16/SF
− Vacancy
−$18.0K −$0.46/SF
EGI
$303.4K $7.70/SF
− OpEx
−$45.5K −$1.16/SF
NOI
$257.9K $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%
$5,157,920
Cap Rate 7%
$3,684,229
Cap Rate 9%
$2,865,511
Alternative Uses
Best Use
Warehouse
$3.68M
$3.22M – $4.30M
NOI $257,896 @ 7.0% cap · market cap 5.61%
Second Best
Industrial
$3.03M
$2.65M – $3.54M
NOI $212,385 @ 7.0% cap · market cap 4.62%
Theoretical Best
Specialty Retail
$7.37M
$6.45M – $8.60M
NOI $516,185 @ 7.0% cap · market cap 11.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,046
Businesses Nearby
Explore this area
Business Placement
Demographics for 48315, MI
28,597
Population
11,252
Households
2.5
Avg Household Size
48
Median Age
33%
College-Educated
92%
High-School Grad
12.9 sq mi
ZIP Area
2,217
Density / Sq Mi
$99,512
Median Household Income
$54,587
Median Earnings
$1,181
Median Rent
$357,700
Median Home Value
Market
Vacancy Rate% for Office 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?
Manufacturing property - Well-maintained 38,388 SF industrial facility with expansion and outside storage.
Where is this manufacturing property located?
The property is located at 51455 Schoenherr Road Shelby Twp, MI.
What is the asking price?
The asking price for this property is $4,595,000.
What are key features of this property?
This property features: 38,388 SF industrial facility with 8,448 SF of office space, suitable for manufacturing, assembly, and laboratory operations.; 8,000 SF climate‑controlled fixture checking lab with CMM, ideal for precision inspection.**; 23‑foot clear heights and 47‑foot bay widths provide a versatile, column‑free workspace.**
