Spacious Commercial Warehouse in
For Sale
$510,000
73 W Walton Boulevard, Pontiac, MI 48340
Commercial warehouse with office, truck bay, and manufacturing zoning.
Property Size5,293 SF
Days on Market125
Property Features for 73 W Walton Boulevard
General Information
Standard status
Active
Size
5,293 SF
Property subtype
Commercial
Building Details
Building Size
5,293 SF
Year Built
1960
Listing Agency:
Realteam Real Estate
(586) 580-8092
Listed By:
Jacob Riberas · License #6501418227
Source:
Irishhillsfivestarhomes
Added: Apr 24
Changed: Aug 25
Last Checked: Aug 25 at 9:17AM
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 Realteam Real Estate
Investment Insights
Based on property information with market context.
Located in Pontiac, Michigan, this commercial warehouse provides an opportunity for businesses requiring storage, distribution, or manufacturing space. The building features an office area at the front, two bathrooms, 15 ft ceilings in the shop area, and 17 ft ceilings in the truck bay. It also includes two overhead grade-level garage doors, heavy 3-phase electrical power, and gas heaters throughout. The roof was resealed in 2023. The property is zoned M-1, Light Manufacturing. The location offers access to major highways and local amenities. The bike score is 45, indicating it is somewhat bikeable, and the walk score is 59, indicating it is somewhat walkable.
Key Highlights
- Prime location in Pontiac, Michigan with easy access to major highways.
- Zoned M‑1 for Light Manufacturing, suitable for various business operations.
- Expansive commercial warehouse space ideal for storage, distribution, or manufacturing.
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
$31,845
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
6.24%
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%
$636,900
$636.9K
Cap Rate 7%
$454,929
$454.9K
Cap Rate 9%
$353,833
$353.8K
Market Conditions
NOI Build-Up for 5,293 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
$38.9K $7.35/SF
− Vacancy
−$1.4K −$0.27/SF
EGI
$37.5K $7.08/SF
− OpEx
−$5.6K −$1.06/SF
NOI
$31.8K $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%
$636,900
Cap Rate 7%
$454,929
Cap Rate 9%
$353,833
Alternative Uses
Best Use
Warehouse
$454.9K
$398.1K – $530.8K
NOI $31,845 @ 7.0% cap · market cap 6.24%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.14M
$999.0K – $1.33M
NOI $79,916 @ 7.0% cap · market cap 15.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
340
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48340, MI
26,039
Population
12,154
Households
2.1
Avg Household Size
33
Median Age
15%
College-Educated
82%
High-School Grad
7.7 sq mi
ZIP Area
3,382
Density / Sq Mi
$46,474
Median Household Income
$32,954
Median Earnings
$1,096
Median Rent
$105,800
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.
Frequently Asked Questions
What type of property is this?
Warehouse - Commercial warehouse with office, truck bay, and manufacturing zoning.
Where is this warehouse located?
The property is located at 73 W Walton Boulevard Pontiac, MI.
What is the asking price?
The asking price for this property is $510,000.
What are key features of this property?
This property features: Prime location in Pontiac, Michigan with easy access to major highways.; Zoned M‑1 for Light Manufacturing, suitable for various business operations.; Expansive commercial warehouse space ideal for storage, distribution, or manufacturing.
