Northville Warehouse with Gravel
For Sale
$1,152,073
7586 Chubb Road, Northville, MI 48168
4,000 SF office, three overhead doors, 10-acre gravel yard.
Property Size10,000 SF
Lot Size10.00 Acres
Price / SF$115.21
Days on Market149
Property Features for 7586 Chubb Road
General Information
Standard status
Active
Size
10,000 SF
Lot size
10.00 Acres
Property subtype
Industrial
Listing Agency:
CBRE - Detroit
(248) 936-6813
Listed By:
Joseph Hauska · License #6501225071
(248) 936-6813
Source:
Cbre
Added: Mar 25
Changed: Aug 17
Last Checked: Aug 20 at 10:10AM
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 CBRE - Detroit
Investment Insights
Based on property information with market context.
This commercial real estate offering includes a warehouse and industrial property featuring a 4,000-square-foot office space. The property is equipped with three overhead doors. It also features a 10-acre lot surfaced with gravel, suitable for outside storage.
Key Highlights
- 10 Acres all gravel
- 4,000 SF Office
- Three (3) overhead doors for easy access
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
$62,865
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
5.46%
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%
$1,257,300
$1.3M
Cap Rate 7%
$898,071
$898.1K
Cap Rate 9%
$698,500
$698.5K
Market Conditions
NOI Build-Up for 10,000 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
$76.8K $7.68/SF
− Vacancy
−$2.8K −$0.28/SF
EGI
$74.0K $7.40/SF
− OpEx
−$11.1K −$1.11/SF
NOI
$62.9K $6.29/SF
Area
Wayne County, MI
Vacancy
3.70%
Lease Rate
$7.68 /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%
$1,257,300
Cap Rate 7%
$898,071
Cap Rate 9%
$698,500
Alternative Uses
Best Use
Warehouse
$898.1K
$785.8K – $1.05M
NOI $62,865 @ 7.0% cap · market cap 5.46%
Second Best
Industrial
$739.6K
$647.1K – $862.9K
NOI $51,771 @ 7.0% cap · market cap 4.49%
Theoretical Best
Specialty Retail
$1.85M
$1.62M – $2.16M
NOI $129,600 @ 7.0% cap · market cap 11.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
43
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48168, MI
24,517
Population
9,277
Households
2.6
Avg Household Size
45
Median Age
72%
College-Educated
98%
High-School Grad
19.6 sq mi
ZIP Area
1,251
Density / Sq Mi
$173,671
Median Household Income
$92,463
Median Earnings
$2,248
Median Rent
$546,300
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
- Plymouth Salem Storage — 10050 Marilyn St, Northville, MI 48168
- Prestige Storage - Northville — 10124 Six Mile Rd, Northville, MI 48168
Frequently Asked Questions
What type of property is this?
Warehouse - 4,000 SF office, three overhead doors, 10-acre gravel yard.
Where is this warehouse located?
The property is located at 7586 Chubb Road Northville, MI.
What is the asking price?
The asking price for this property is $1,152,073.
What are key features of this property?
This property features: 10 Acres all gravel; 4,000 SF Office; Three (3) overhead doors for easy access
