61166 Van Dyke Ave, Washington, MI 48094

Building Details

Year Built 1964 More

Tenancy Single More

Listing Agency: Fortis Net Lease

Listed By: Doug Passon · License MI #6502361821 Show Phone

Source: Crexi

Added: Feb 10 Changed: Oct 31 Last Checked: Nov 8 at 8:35AM

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Investment Insights

Based on property information with market context.

Located at 61166 Van Dyke in Washington, Michigan, this industrial investment opportunity features a 98,221 square foot industrial facility. Constructed in 1964, the building has undergone significant improvements through substantial capital investment by both the ownership and the tenant. The property is situated within a well-established industrial corridor. The tenant, Laser Specialists, Inc., is a family-owned company with over 30 years of operating history, specializing in laser cutting and fabrication services. They serve a diversified client base across various industries, including automotive, agriculture, aerospace, military, appliance, construction, energy, fitness equipment, and architectural sectors. The property offers expansion potential and a strategic location within the Metro Detroit industrial market. Washington Township, in Macomb County, Michigan, provides a mix of rural charm and suburban convenience. It features spacious residential areas and access to amenities and attractions. The township has parks and outdoor spaces, including Stony Creek Metropark, offering recreational opportunities. Residents can also enjoy local events and shopping and dining options in nearby commercial districts.

Key Highlights

• Substantial capital investment by both ownership and tenant
• Located in a well‑established industrial corridor within the Metro Detroit industrial market
• Long‑term tenant, Laser Specialists, Inc., with over 30 years of operating history

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$477,718

Cap Rate

6.81%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$9,554,360 $9.6M

Cap Rate 7%

$6,824,543 $6.8M

Cap Rate 9%

$5,307,978 $5.3M

Is this asking price fair?

Market Conditions

NOI Build-Up for 98,221 SF

Gross rent

$719.0K $7.32/SF

− Vacancy

−$36.5K −$0.37/SF

EGI

$682.5K $6.95/SF

− OpEx

−$204.7K −$2.08/SF

NOI

$477.7K $4.86/SF

Area

Macomb County, MI

Vacancy

5.08%

Lease Rate

$7.32 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$9,554,360

Cap Rate 7%

$6,824,543

Cap Rate 9%

$5,307,978

Alternative Uses

Best Use

Industrial

$6.82M

$5.97M – $7.96M (±1% cap)

NOI $477,718 @ 7.0% cap · market cap 6.81%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$18.39M

$16.09M – $21.45M (±1% cap)

NOI $1,287,198 @ 7.0% cap · market cap 18.35%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Manufacturing properties

Suggested Use

Top Pick Real Estate Agency Restaurant Law Firm Dental Office Auto Repair Shop Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

139

Businesses Nearby

Explore this area Business Placement

Demographics for 48094, MI

20,340

Population

8,295

Households

2.5

Avg Household Size

45

Median Age

36%

College-Educated

93%

High-School Grad

17.5 sq mi

ZIP Area

1,162

Density / Sq Mi

$96,781

Median Household Income

$48,860

Median Earnings

$1,339

Median Rent

$399,100

Median Home Value

Market

Average Price Trend$/SF for Industrial properties in Macomb County, MI

$102 Jul

$95.13 Aug

$105 Sep

$101 Oct

Properties on Market for Industrial properties in Macomb County

Jul

Aug

Sep

Oct

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

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Frequently Asked Questions

What type of property is this?

Industrial property - 98,221 SF industrial facility in a well-established corridor.

Where is this industrial property located?

The property is located at 61166 Van Dyke Ave Washington, MI.

What is the asking price?

The asking price for this property is $7,015,786.

What are key features of this property?

This property features: Substantial capital investment by both ownership and tenant; Located in a well‑established industrial corridor within the Metro Detroit industrial market; Long‑term tenant, Laser Specialists, Inc., with over 30 years of operating history