Industrial Warehouse
For Sale
Contact for pricing
615 Livernois St, Ferndale, MI 48220
Industrial warehouse building totaling 10,067 square feet and available for sale.
Property Size10,067 SF
Price / SF$98.34
Days on Market189
Property Features for 615 Livernois St
General Information
Standard status
Active
Size
10,067 SF
Property subtype
Industrial
Lease Type
Gross
Listing Agency:
Colliers - Royal Oak/Detroit, Michigan
Listed By:
Raffi Derbabian · License #MI
Source:
Crexi
Added: Mar 6
Changed: Sep 8
Last Checked: Sep 11 at 6:05AM
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 Colliers - Royal Oak/Detroit, Michigan
Investment Insights
Based on property information with market context.
Industrial warehouse building with approximately 10,067 square feet, offered for sale. The property is listed under warehouse/industrial real estate categories.
Located at 615 Livernois St in Ferndale, MI 48220, the building is suitable for buyers seeking a straightforward warehouse asset.
The available information does not specify additional improvements, unit configuration, or site details beyond the building size.
Located at 615 Livernois St in Ferndale, MI 48220, the building is suitable for buyers seeking a straightforward warehouse asset.
The available information does not specify additional improvements, unit configuration, or site details beyond the building size.
Key Highlights
- Industrial warehouse building totaling 10,067 SF
- Available for sale
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
$60,567
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
6.12%
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%
$1,211,340
$1.2M
Cap Rate 7%
$865,243
$865.2K
Cap Rate 9%
$672,967
$673.0K
Market Conditions
NOI Build-Up for 10,067 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
$74.0K $7.35/SF
− Vacancy
−$2.7K −$0.27/SF
EGI
$71.3K $7.08/SF
− OpEx
−$10.7K −$1.06/SF
NOI
$60.6K $6.02/SF
Area
Oakland County, MI
Vacancy
3.70%
Lease Rate
$7.35 /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%
$1,211,340
Cap Rate 7%
$865,243
Cap Rate 9%
$672,967
Alternative Uses
Best Use
Warehouse
$865.2K
$757.1K – $1.01M
NOI $60,567 @ 7.0% cap · market cap 6.12%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.17M
$1.90M – $2.53M
NOI $151,996 @ 7.0% cap · market cap 15.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,062
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Expedite Connect Services — 22007 Woodward Ave SUITE#9, Ferndale, MI 48220
- iStorage — 181 W Marshall St, Ferndale, MI 48220
- Self Storage — 22647 woodward ave, ferndale, mi 48220
- Movin N Groovin Moving Company — 22750 Woodward Ave #206, Ferndale, MI 48220
- Near-By Storage Units — 345 E 9 Mile Rd, Ferndale, MI 48220
Frequently Asked Questions
What type of property is this?
Warehouse - Industrial warehouse building totaling 10,067 square feet and available for sale.
Where is this warehouse located?
The property is located at 615 Livernois St Ferndale, MI.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: Industrial warehouse building totaling 10,067 SF; Available for sale
