Industrial Property with High
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15555 - 15651 12 Mile Road, Roseville, MI 48066
24,950 SF industrial property, 100% occupied, great location.
Property Size24,950 SF
Price / SF$96.19
Days on Market3372
Property Features for 15555 - 15651 12 Mile Road
General Information
Standard status
Active
Size
24,950 SF
Total Parking Spaces
60
Property subtype
Industrial
Zoning
Lt Industrial
Occupancy
100%
Investment Type
Owner/User
Net Operating Income
$119,255
Building Details
Year Built
1978
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
P.A. Commercial Corporate & Investment Real Estate
Listed By:
John Arthurs · License #MI 6501222941
(248) 663-0506
Source:
Crexi
Added: Jun 12, 2017
Changed: Aug 16
Last Checked: Sep 2 at 6:01PM
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 P.A. Commercial Corporate & Investment Real Estate
Investment Insights
Based on property information with market context.
This 24,950 square foot industrial property features ceiling heights ranging from 12 to 18 feet and includes six overhead doors. Currently 100% occupied by two tenants, the property benefits from a high-exposure location adjacent to a McDonald's. It offers convenient access to I-696 and Groesbeck Highway. The net operating income is $115,861, reflecting a 9% cap rate.
Key Highlights
- High exposure location adjacent to McDonald's.
- Net operating income of $115,861 with a 9% cap rate.
- 100% occupied with two tenants.
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
$134,534
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
5.61%
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%
$2,690,680
$2.7M
Cap Rate 7%
$1,921,914
$1.9M
Cap Rate 9%
$1,494,822
$1.5M
Market Conditions
NOI Build-Up for 24,950 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
$203.6K $8.16/SF
− Vacancy
−$11.4K −$0.46/SF
EGI
$192.2K $7.70/SF
− OpEx
−$57.7K −$2.31/SF
NOI
$134.5K $5.39/SF
Area
Macomb County, MI
Vacancy
5.60%
Lease Rate
$8.16 /SF/Yr
Expense Ratio
30.00%
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%
$2,690,680
Cap Rate 7%
$1,921,914
Cap Rate 9%
$1,494,822
Alternative Uses
Best Use
Industrial
$1.92M
$1.68M – $2.24M
NOI $134,534 @ 7.0% cap · market cap 5.61%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.67M
$4.09M – $5.45M
NOI $326,973 @ 7.0% cap · market cap 13.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
521
Businesses Nearby
Explore this area
Business Placement
Demographics for 48066, MI
47,789
Population
22,116
Households
2.2
Avg Household Size
39
Median Age
15%
College-Educated
90%
High-School Grad
9.9 sq mi
ZIP Area
4,827
Density / Sq Mi
$61,222
Median Household Income
$38,978
Median Earnings
$1,175
Median Rent
$142,700
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Industrial property - 24,950 SF industrial property, 100% occupied, great location.
Where is this industrial property located?
The property is located at 15555 - 15651 12 Mile Road Roseville, MI.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: High exposure location adjacent to McDonald's.; Net operating income of $115,861 with a 9% cap rate.; 100% occupied with two tenants.
