Live-Work Industrial
5550 E Carleton Road Palmyra, MI 49268
For Sale
$245,000
Commercial-grade building with an attached private apartment, fenced stocked pond, and RV-ready hookup for flexible owner-operator use.
Property Size2,400 SF
Lot Size5.00 Acres
Price / SF$102.08
Days on Market71
Property Features for 5550 E Carleton Road
General Information
Standard status
Active
Size
2,400 SF
Lot size
5.00 Acres
Property subtype
General Commercial
Building Details
Year Built
1975
Listing Agency:
(734) 316-5886
Listed By:
Cornerstone Real Estate
Source:
Xome
Added: May 20
Changed: Jul 10
Last Checked: Jul 29 at 11:46AM
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 Cornerstone Real Estate
Investment Insights
Based on property information with market context.
This live-work property centers on a massive 45x72 commercial-grade building offering more than 2,400 sq ft of premium space. The facility is described as fully equipped for business, hobbies, or storage, with 2-phase power, a half bath, and a 5-ton AC cooling system powered by dual units. Attached yet private, there is an apartment with separate HVAC, suited for an owner-operator setup or independent occupancy.
Set on nearly 5 acres, the outdoor portion includes a beautifully fenced pond stocked with bluegill and catfish. Additional site features mentioned include an RV 30-amp hookup with a concrete pad, several mulberry trees, an artesian well, and municipal sewer.
For tenants, buyers, or operators looking for a single property that can support commercial activities while also providing residential space, the combination of dedicated commercial improvements, separate apartment comfort, and purpose-built outdoor amenities may fit a range of owner-operator and flexible use scenarios. The layout also supports business-and-storage needs while keeping living quarters distinct.
Set on nearly 5 acres, the outdoor portion includes a beautifully fenced pond stocked with bluegill and catfish. Additional site features mentioned include an RV 30-amp hookup with a concrete pad, several mulberry trees, an artesian well, and municipal sewer.
For tenants, buyers, or operators looking for a single property that can support commercial activities while also providing residential space, the combination of dedicated commercial improvements, separate apartment comfort, and purpose-built outdoor amenities may fit a range of owner-operator and flexible use scenarios. The layout also supports business-and-storage needs while keeping living quarters distinct.
Key Highlights
- Nearly 5‑acre property featuring a massive 45x72 commercial‑grade building with over 2,400 sq ft of space
- Building includes 2‑phase power, a half bath, and a 5‑ton AC system with dual units
- Attached private apartment with separate HVAC for owner‑operator use or rental potential
Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $35.1k | $14.64 |
| − Vacancy | −$3.5k | −$1.48 |
| EGI | $31.6k | $13.16 |
| − OpEx | −$9.5k | −$3.95 |
| NOI | $22.1k | $9.21 |
2,400 SF · lease $14.64/SF/yr · vacancy 10.10% · expense 30.00%
Alternative Uses
Best Use
Flex RnD
$441.7K
$386.5K – $515.4K
NOI $30,922 @ 7.0% cap · market cap 12.62%
Second Best
Warehouse
$383.6K
$335.6K – $447.5K
NOI $26,849 @ 7.0% cap · market cap 10.96%
Theoretical Best
Multifamily LT 5
$29.78M
$26.05M – $34.74M
NOI $2,084,354 @ 7.0% cap · market cap 850.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Live-work space - Commercial-grade building with an attached private apartment, fenced stocked pond, and RV-ready hookup for flexible owner-operator use.
Where is this live-work space located?
The property is located at 5550 E Carleton Road Palmyra, MI.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: Nearly 5‑acre property featuring a massive 45x72 commercial‑grade building with over 2,400 sq ft of space; Building includes 2‑phase power, a half bath, and a 5‑ton AC system with dual units; Attached private apartment with separate HVAC for owner‑operator use or rental potential
