Industrial Building with 2-Ton
For Sale
$1,299,000
610 Livernois St, Ferndale, MI 48220
1955-built industrial facility includes 2 two-ton cranes, 12’–18’ ceilings, and one truckwell with three overhead doors.
Property Size9,046 SF
Lot Size0.40 Acres
Price / SF$143.60
Days on Market96
Property Features for 610 Livernois St
General Information
Standard status
Active
Size
9,046 SF
Total Parking Spaces
19
Lot size
0.40 Acres
Property subtype
Industrial
Zoning
BI
Warehouse & Industrial
Clear Height
18 ft
Dock-High Doors
1
Drive-In Doors
3
Building Details
Building Size
9,046 SF
Year Built
1955
Listing Agency:
Friedman Integrated Real Estate
Listed By:
Bruce A. Morrison
(586) 243-4260
Source:
Friedmanrealestate
Added: Jun 2
Changed: Sep 4
Last Checked: Sep 4 at 2:28AM
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 Friedman Integrated Real Estate
Investment Insights
Based on property information with market context.
This 9,046 SF industrial building was built in 1955 and features approximately 10% office space. The facility offers 12’ to 18’ ceiling heights, one truckwell, and three overhead doors, supporting a range of warehouse and light industrial workflows.
The property also includes two 2-ton cranes and 19 parking spaces, along with a site area of approximately 0.40 acres.
Additional improvements include a combination of warehouse space and office area within the same building footprint, providing separation between working and administrative functions.
The property also includes two 2-ton cranes and 19 parking spaces, along with a site area of approximately 0.40 acres.
Additional improvements include a combination of warehouse space and office area within the same building footprint, providing separation between working and administrative functions.
Key Highlights
- 9,046 SF industrial building built in 1955
- 10% office space included in the 9,046 SF facility
- 12’–18’ ceiling height
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
$93,561
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
7.20%
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%
$1,871,220
$1.9M
Cap Rate 7%
$1,336,586
$1.3M
Cap Rate 9%
$1,039,567
$1.0M
Market Conditions
NOI Build-Up for 9,046 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
$162.8K $18.00/SF
− Vacancy
−$18.9K −$2.09/SF
EGI
$143.9K $15.91/SF
− OpEx
−$50.4K −$5.57/SF
NOI
$93.6K $10.34/SF
Area
Oakland County, MI
Vacancy
11.60%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
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%
$1,871,220
Cap Rate 7%
$1,336,586
Cap Rate 9%
$1,039,567
Alternative Uses
Best Use
Flex RnD
$1.34M
$1.17M – $1.56M
NOI $93,561 @ 7.0% cap · market cap 7.20%
Second Best
Warehouse
$777.5K
$680.3K – $907.1K
NOI $54,424 @ 7.0% cap · market cap 4.19%
Theoretical Best
Specialty Retail
$1.95M
$1.71M – $2.28M
NOI $136,580 @ 7.0% cap · market cap 10.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18 ft
Clear height
1
Dock-high doors
3
Drive-in doors
Location Intelligence
Trade Area within ½ mile
595
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48220, MI
21,564
Population
12,003
Households
1.8
Avg Household Size
37
Median Age
53%
College-Educated
96%
High-School Grad
4.4 sq mi
ZIP Area
4,901
Density / Sq Mi
$86,095
Median Household Income
$54,557
Median Earnings
$1,191
Median Rent
$229,700
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
- The Gripper Food Truck — 20504 Livernois, Detroit, MI 48221
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- WeWillCook4U — 20504 Livernois, Detroit, MI 48221
- Jackson's Five Star Catering — 20504 Livernois, Detroit, MI 48221
- Quarton Catering — 22020 Woodward Ave, Ferndale, MI 48220
Frequently Asked Questions
What type of property is this?
Flex space - 1955-built industrial facility includes 2 two-ton cranes, 12’–18’ ceilings, and one truckwell with three overhead doors.
Where is this flex space located?
The property is located at 610 Livernois St Ferndale, MI.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: 9,046 SF industrial building built in 1955; 10% office space included in the 9,046 SF facility; 12’–18’ ceiling height
