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    Industrial Flex Space with Dual Frontage Title is generated by Realmo AI

    51655-51685 Schoenherr Road, Shelby Township, MI 48315

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    For Lease
    $13 SF/Yr $29,014/Mo (calc)

    Warehouse with office buildout, dual road frontage, four overhead doors, and 20' clear height.

    Type:Industrial
    Property size:
    24,959 SF
    Added:
    Apr 7, 2026
    Days on Market:
    61
    Last Refresh:
    Jun 5 at 2:41 am

    Property Features for 51655-51685 Schoenherr Road

    General Information

    Standard status
    Active
    Size
    24,959 SF
    Property subtype
    Industrial

    Building Details

    Year Built
    2018

    We can help!

    Listing Contact
    Giancarlo Pinterpe
    Giancarlo Pinterpe

    Listing agent Giancarlo Pinterpe

    Listing office Lee & Associates of Michigan

    Listing date Apr 7, 2026

    Source Cpix.resimplifi

    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

    HighLights

    • 11,155 SF industrial space with ~2,500 SF office buildout (2nd floor mezzanine not included in SF)
    • Dual frontage with 200' on West Star Rd and 300'+ on Schoenherr Rd for access and visibility
    • 20' clear ceiling height
    • Four 12' x 14' overhead doors
    • 240V 3‑phase power and floor drains

    Overview

    This 11,155-square-foot industrial flex space includes approximately 2,500 square feet of office buildout, with a second-floor mezzanine area noted as not included in the stated square footage. The warehouse features floor drains and a 20-foot clear ceiling height, supporting a wide range of light industrial and distribution uses. Loading access is provided by four 12' x 14' overhead doors, and the space is equipped with 240V three-phase power.

    The unit offers dual frontage along Schoenherr Road and West Star Road, supporting convenient access and prominent visibility from both directions. It provides approximately 300+ feet of frontage on Schoenherr Road and about 200 feet of frontage on West Star Road. The space occupies roughly half of a 24,959-square-foot building, which is surrounded by a strong tenant mix of established businesses.

    For tenants seeking a functional industrial setup with integrated office space, this configuration provides dedicated work area alongside warehouse capacity. Dual road frontage can also be helpful for operations that benefit from flexible inbound and outbound movement, while the door count, clear height, and power support practical daily use.
    Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Shelby Township
    County
    Macomb
    State
    Michigan
    Longitude
    -82.99494
    Latitude
    42.675612

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    FAQs

    What type of property is this?
    Flex space - Warehouse with office buildout, dual road frontage, four overhead doors, and 20' clear height.
    Where is this flex space located?
    The property is located at 51655-51685 Schoenherr Road Shelby Township, MI.
    What is the lease rate?
    The lease rate is $13 SF/Yr.
    What are key features of this property?
    This property features: 11,155 SF industrial space with ~2,500 SF office buildout (2nd floor mezzanine not included in SF); Dual frontage with 200' on West Star Rd and 300'+ on Schoenherr Rd for access and visibility; 20' clear ceiling height
    (248) 561-5748
    We can help!
    Listing Contact
    Giancarlo Pinterpe
    Giancarlo Pinterpe
    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.

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    51655-51685 Schoenherr Road, Shelby Township, MI 48315
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