New Baltimore Warehouse
For Sale
$850,000
51690 Birch Street, New Baltimore, MI 48047
11,516 sqft warehouse property for sale in New Baltimore.
Property Size11,516 SF
Price / SF$73.81
Days on Market150
Property Features for 51690 Birch Street
General Information
Standard status
Active
Size
11,516 SF
Property subtype
Industrial
Listing Agency:
(248) 351-2079
Listed By:
Matt Osiecki
(248) 351-2079
Source:
Cbre
Added: Mar 25
Changed: Aug 17
Last Checked: Aug 20 at 1:23PM
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 Matt Osiecki
Investment Insights
Based on property information with market context.
This property is a warehouse, categorized as both a warehouse and an industrial property. The building offers 11,516 square feet of space and is located in New Baltimore, Michigan.
Key Highlights
- 11,516 sqft warehouse property
- Property for sale
- Located in New Baltimore
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
$75,402
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
8.87%
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%
$1,508,040
$1.5M
Cap Rate 7%
$1,077,171
$1.1M
Cap Rate 9%
$837,800
$837.8K
Market Conditions
NOI Build-Up for 11,516 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
$94.0K $8.16/SF
− Vacancy
−$5.3K −$0.46/SF
EGI
$88.7K $7.70/SF
− OpEx
−$13.3K −$1.16/SF
NOI
$75.4K $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%
$1,508,040
Cap Rate 7%
$1,077,171
Cap Rate 9%
$837,800
Alternative Uses
Best Use
Warehouse
$1.08M
$942.5K – $1.26M
NOI $75,402 @ 7.0% cap · market cap 8.87%
Second Best
Industrial
$887.1K
$776.2K – $1.03M
NOI $62,096 @ 7.0% cap · market cap 7.31%
Theoretical Best
Specialty Retail
$2.16M
$1.89M – $2.52M
NOI $150,919 @ 7.0% cap · market cap 17.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
493
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 48047, MI
39,775
Population
16,765
Households
2.4
Avg Household Size
42
Median Age
29%
College-Educated
94%
High-School Grad
18.0 sq mi
ZIP Area
2,210
Density / Sq Mi
$95,381
Median Household Income
$50,151
Median Earnings
$1,109
Median Rent
$297,600
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Five Star Self Storage — 35515 23 Mile Rd, New Baltimore, MI 48047
- National Storage — 35515 23 Mile Rd, New Baltimore, MI 48047
- National Storage Centers — 35515 23 Mile Rd, New Baltimore, MI 48047
Frequently Asked Questions
What type of property is this?
Warehouse - 11,516 sqft warehouse property for sale in New Baltimore.
Where is this warehouse located?
The property is located at 51690 Birch Street New Baltimore, MI.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 11,516 sqft warehouse property; Property for sale; Located in New Baltimore
