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    51600 Grand River Ave Wixom, MI 48393

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    New construction industrial space in the I-96 corridor.

    Type:Industrial, Land
    Property size:
    22,680 SF
    Added:
    Sep 23, 2023
    Days on Market:
    939
    Last Refresh:
    Mar 17 at 1:20 pm

    Property Features for 51600 Grand River Ave

    General Information

    Standard status
    Active
    Size
    22,680 SF
    Property subtype
    Industrial, Land

    Spaces For Lease

    at 51600 Grand River Ave Contact us

    We can help!

    Listing Contact
    Reece Hughes

    Listing agent Reece Hughes License #6501428750

    Listing office RH Commercial Realty

    Listing date Sep 23, 2023

    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 RH Commercial Realty

    Overview

    New Industrial Development Near I-96

    The Grand Napier Business Park is a new construction development situated in the I-96 corridor, located just west of Wixom Road. Phase 1 of this industrial development offers finish-to-suit buildings suitable for single or multi-tenant occupancy. The available spaces include 15,600 square feet and 22,680 square feet. The buildings feature multiple grade-level doors, two truckwells, and high clearance.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Real Estate Agency Law Firm Building Supply Auto Repair Shop Big Box & Wholesale Store Nail Salon Gym & Fitness Center Hotel & Motel Auto Parts Store Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Wixom
    County
    Oakland
    State
    Michigan
    Longitude
    -83.5576676
    Latitude
    42.4997046

    Nearby Similar for Lease

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      New Construction Office Space Available

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      Wixom Warehouse or Office Space

      8,000 SF warehouse or office space available for rent.
      48260 Frank St, Wixom, MI 48393
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      Wixom Warehouse with Expansion Potential

      Renovated warehouse with expansion potential, north of I-96.
      30517 Andersen Court, Wixom, MI 48393
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      Retail Space in North Park Plaza

      High-visibility retail spaces available in Wixom, near I-96.
      2051-2133 N Wixom Road, Wixom, MI 48393
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      Wixom Industrial Space Available

      Industrial property available for lease in Wixom, Michigan.
      47689 Avante Drive, Wixom, MI, 48393
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      Wixom Warehouse with 32' Clearance

      81,881 SF warehouse space available for rent in Wixom, MI.
      29837 Wixom Road, Wixom, MI 48393
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      Wixom Manufacturing Space Available

      Manufacturing space with buss ducts and air lines available for rent.
      29425-29445 Wall St, Wixom, MI 48393
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      Wixom Warehouse Space Available

      110,000 sq ft warehouse space for lease in Wixom.
      30811 Century Drive, Wixom, MI, 48393
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      Retail Space in North Park Plaza

      Retail, office, and medical spaces available in Wixom, Michigan.
      2051 2133 N Wixom Rd, Wixom, MI
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      Wixom Industrial Suites Available

      Suites available in a well-maintained industrial park north of I-96.
      50200-50420 Dennis Industrial Ct., Wixom, MI 48393
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    • Contact for pricing

      Retail Space Near Pontiac Trail

      Retail space available south of Pontiac Trail, east of Wixom Road.
      31202 S. Old Wixom Road, Wixom, MI 48393
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      New Office Space For Lease

      Up to 25,000 SF of new office space available.
      38000 Assembly Park Dr, Wixom, MI
      View Details

    FAQs

    What type of property is this?
    Flex space - New construction industrial space in the I-96 corridor.
    Where is this flex space located?
    The property is located at 51600 Grand River Ave Wixom, MI.
    What are key features of this property?
    This property features: New construction in the I‑96 corridor.; Finish‑to‑suit single or multi‑tenant building(s).; Available spaces of **15,600 SF and 22,680 SF**.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Reece Hughes
    Real Estate License ID: 6501428750
    Learn More
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    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
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