Updated Industrial Building with
850 S Glaspie St Oxford, MI 48371
850 S Glaspie St, Oxford, MI, 48371
$1,665,000
For Sale
$1,665,000
Updated industrial facility with office buildout, epoxy floors, floor drains, LED lighting, and 18' clear ceilings.
Property Size10,051 SF
Price / SF$165.66
Days on Market169
Property Features for 850 S Glaspie St
General Information
- Standard status
- Active
- Size
- 10,051 SF
- Property subtype
- Industrial
Listing agency
Friedman Integrated Real Estate
(248) 324-2000
Listed by
Larry Schultz
(248) 324-2000
Source
Cpix.resimplifi
Added: Feb 2 Updated: Jul 20 at 8:43PM Checked: Jul 21 at 3:02AM
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 Friedman Integrated Real Estate
Investment Insights
Based on property information with market context.
Updated industrial building for sale with recent exterior and interior improvements, including a new parking lot with curbs and sidewalk, plus an underground detention basin. Interior updates include epoxy and LVP flooring, fresh paint, and HVAC.
The property includes an office area with three private rooms, a kitchen/break room, about 1,200 SF of open office/showroom space, a new reception area, and a lab/store room. The warehouse portion features new epoxy floors, floor drains, LED lighting, gas-fired forced-air heat (GFA), and approximately 18' clear ceilings. Electrical includes 1,000A 240V 3-phase power.
Security features include cameras, alarms, and reinforced doors. Public remarks also note that the former MJ dispensary underwent major renovations about three years ago.
The property includes an office area with three private rooms, a kitchen/break room, about 1,200 SF of open office/showroom space, a new reception area, and a lab/store room. The warehouse portion features new epoxy floors, floor drains, LED lighting, gas-fired forced-air heat (GFA), and approximately 18' clear ceilings. Electrical includes 1,000A 240V 3-phase power.
Security features include cameras, alarms, and reinforced doors. Public remarks also note that the former MJ dispensary underwent major renovations about three years ago.
Key Highlights
- 10,051 SF updated industrial building for sale in Oxford
- Office buildout includes 3 private offices, kitchen/break room, and new reception area
- 1,200 SF open office/showroom plus lab/store room
Local Financial Insights For Flex RnD
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $180.9k | $18.00 |
| − Vacancy | −$21.0k | −$2.09 |
| EGI | $159.9k | $15.91 |
| − OpEx | −$56.0k | −$5.57 |
| NOI | $104.0k | $10.34 |
10,051 SF · lease $18.00/SF/yr · vacancy 11.60% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$1.49M
$1.30M – $1.73M
NOI $103,955 @ 7.0% cap · market cap 6.24%
Second Best
Warehouse
$863.9K
$755.9K – $1.01M
NOI $60,470 @ 7.0% cap · market cap 3.63%
Theoretical Best
Specialty Retail
$2.17M
$1.90M – $2.53M
NOI $151,754 @ 7.0% cap · market cap 9.11%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
MalwareBuster
(Bike/Boat/Book/etc) Store
Affiliated Builders
Construction Company
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - Updated industrial facility with office buildout, epoxy floors, floor drains, LED lighting, and 18' clear ceilings.
Where is this flex space located?
The property is located at 850 S Glaspie St Oxford, MI.
What is the asking price?
The asking price for this property is $1,665,000.
What are key features of this property?
This property features: 10,051 SF updated industrial building for sale in Oxford; Office buildout includes 3 private offices, kitchen/break room, and new reception area; 1,200 SF open office/showroom plus lab/store room
