Flex Office/Warehouse
588 South Lapeer Road Oxford, MI 48371
588 South Lapeer Road, Oxford, MI, 48371
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For Sale
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Industrial-flex building includes two private offices and a spacious open area for storage or work space.
Property Size6,054 SF
Price / SF$263.96
Days on Market80
Property Features for 588 South Lapeer Road
General Information
- Standard status
- Active
- Size
- 6,054 SF
- Property subtype
- Retail, Office
Building Details
- Year Built
- 1974
Listing agency
Thrive Realty Co
Listed by
AYLIN TARR · License #449373
Source
Crexi
Added: May 3 Updated: Jul 20 at 9:28PM Checked: Jul 20 at 9:28PM
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 Thrive Realty Co
Investment Insights
Based on property information with market context.
This versatile flex office/warehouse property at 588 S Lapeer Rd offers a practical mix of administrative and open functional space. The interior includes two private office spaces plus a spacious open area that can support storage, work space, or other light commercial use.
The property is positioned on South Lapeer Road within an established commercial corridor, designed to provide convenient access for daily operations and customer visibility.
As a single-purpose layout with both office and open-area components, the building is well-suited for owner-users seeking space to run day-to-day business functions alongside flexible storage or workspace needs.
The property is positioned on South Lapeer Road within an established commercial corridor, designed to provide convenient access for daily operations and customer visibility.
As a single-purpose layout with both office and open-area components, the building is well-suited for owner-users seeking space to run day-to-day business functions alongside flexible storage or workspace needs.
Key Highlights
- Commercial property at 588 S Lapeer Rd, Oxford, MI (built in 1974)
- Industrial‑flex layout with two private office spaces
- Spacious open area suited for storage, work space, or light commercial use
Local Financial Insights For Flex RnD
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 | $109.0k | $18.00 |
| − Vacancy | −$12.6k | −$2.09 |
| EGI | $96.3k | $15.91 |
| − OpEx | −$33.7k | −$5.57 |
| NOI | $62.6k | $10.34 |
6,054 SF · lease $18.00/SF/yr · vacancy 11.60% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$894.5K
$782.7K – $1.04M
NOI $62,615 @ 7.0% cap · market cap 3.92%
Second Best
Warehouse
$520.3K
$455.3K – $607.1K
NOI $36,423 @ 7.0% cap · market cap 2.28%
Theoretical Best
Specialty Retail
$1.31M
$1.14M – $1.52M
NOI $91,406 @ 7.0% cap · market cap 5.72%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
FasTrac
Auto Parts Store
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - Industrial-flex building includes two private offices and a spacious open area for storage or work space.
Where is this flex space located?
The property is located at 588 South Lapeer Road Oxford, MI.
What is the asking price?
The asking price for this property is $1,598,000.
What are key features of this property?
This property features: Commercial property at 588 S Lapeer Rd, Oxford, MI (built in 1974); Industrial‑flex layout with two private office spaces; Spacious open area suited for storage, work space, or light commercial use
