66375 S Forest Avenue, Lenox Township, MI 48050

Building Details

Building Size 14,500 SF More

Year Built 1991 More

Listing Agency: Keller Williams Paint Creek Show Phone

Listed By: Joseph Delia · License #6501372650 Show Phone

Source: Housewant

Added: May 28 Changed: Nov 7 Last Checked: Nov 8 at 3:17PM

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Investment Insights

Based on property information with market context.

This flex property combines warehouse and shop areas with private office space in a layout suited to varied operational needs. The building contains approximately 14,400 square feet, has multiple grade-level overhead doors, and was built in 1991. Light Industry zoning is identified for the property.

The site spans approximately 4 acres in the New Haven/Lenox area of Macomb County, with room for vehicles and equipment as part of the property’s practical operating layout.

Key Highlights

• Approximately 14,400 SF of warehouse, shop, and office space
• Approximately 4‑acre site in the New Haven/Lenox area of Macomb County
• Multiple grade‑level overhead doors

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$85,636

Cap Rate

9.01%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,712,720 $1.7M

Cap Rate 7%

$1,223,371 $1.2M

Cap Rate 9%

$951,511 $951.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 14,500 SF

Gross rent

$106.1K $7.32/SF

− Vacancy

−$5.4K −$0.37/SF

EGI

$100.7K $6.95/SF

− OpEx

−$15.1K −$1.04/SF

NOI

$85.6K $5.91/SF

Area

Macomb County, MI

Vacancy

5.08%

Lease Rate

$7.32 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,712,720

Cap Rate 7%

$1,223,371

Cap Rate 9%

$951,511

Alternative Uses

Best Use

Flex RnD

$2.35M

$2.06M – $2.74M (±1% cap)

NOI $164,688 @ 7.0% cap · market cap 17.34%

Second Best

Warehouse

$1.22M

$1.07M – $1.43M (±1% cap)

NOI $85,636 @ 7.0% cap · market cap 9.01%

Theoretical Best

Specialty Retail

$2.71M

$2.38M – $3.17M (±1% cap)

NOI $190,024 @ 7.0% cap · market cap 20.00%

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

A&S Collision Towing ... Auto Repair Shop

Suggested Use

Top Pick Auto Parts Store Law Firm Storage Facility Kitchen & Bath Showroom HVAC Service Gym & Fitness Center

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

23

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 48050, MI

1,553

Population

537

Households

2.9

Avg Household Size

49

Median Age

20%

College-Educated

93%

High-School Grad

18.6 sq mi

ZIP Area

83

Density / Sq Mi

$88,804

Median Household Income

$59,438

Median Earnings

$329,300

Median Home Value

Market

Average Price Trend$/SF for Flex space in Macomb County, MI

$106 Jul

$97.85 Aug

$109 Sep

$103 Oct

Properties on Market for Flex space 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

Frequently Asked Questions

What type of property is this?

Flex space - Light Industry zoning and a multi-acre site support a range of industrial operations.

Where is this flex space located?

The property is located at 66375 S Forest Avenue Lenox Township, MI.

What is the asking price?

The asking price for this property is $950,000.

What are key features of this property?

This property features: Approximately 14,400 SF of warehouse, shop, and office space; Approximately 4‑acre site in the New Haven/Lenox area of Macomb County; Multiple grade‑level overhead doors