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    10505 Plaza Dr Whitmore Lake, MI 48189

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    For Lease
    Contact for pricing

    80,000 SF Multi-Tenant Industrial Facility

    Lot size:
    80,000 SF

    Property Features for 10505 Plaza Dr

    General Information

    Property type
    Distribution properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    80,000 SF
    Total Rate
    56666.67

    Building Details

    Year Built
    1989

    Spaces For Lease

    at 10505 Plaza Dr, Whitmore Lake, MI 48189 Contact us
    Unit Suite C

    $8 /Mo

    Size
    13,600 SF
    Contact us
    Unit Suite A + Suite C + Suite D

    $8 /Mo

    Size
    35,200 SF
    Contact us
    Unit Suite C + Suite D

    $8 /Mo

    Size
    26,800 SF
    Contact us
    Unit Suite D

    $8 /Mo

    Size
    13,200 SF
    Contact us

    We can help!

    Listing Contact
    Reece Hughes
    Reece Hughes

    Listing Agency: RH Commercial Realty Listing Agent: Reece Hughes

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional 80,000-square-foot industrial property in Whitmore Lake, Michigan, offers a unique opportunity for businesses seeking flexible manufacturing, warehouse, or distribution space. Located at 10505 Plaza Drive, 48189, this multi-tenant building boasts a range of unit sizes, with a minimum divisible space of 8,400 square feet and a maximum contiguous space of 26,800 square feet. Currently, 35,200 square feet is available. Built in 1989, the facility features impressive ceiling heights ranging from 15 to 26 feet, providing ample vertical storage capacity. Ten loading docks and six drive-in doors ensure efficient loading and unloading operations. The property also includes 45 total parking spaces, accommodating employees and visitors. The building is equipped with heavy power, catering to the needs of energy-intensive industrial processes. Zoned Limited Industrial (LI), this property is ideally situated between Ann Arbor and Brighton, offering convenient access to major transportation routes and a skilled workforce. The available spaces are well-suited for various light industrial uses, and the combination of grade-level access and ample clearance makes them highly desirable. This is a rare opportunity to secure prime industrial space in a thriving Michigan market.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Feed Your Zoo (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Law Firm Building Supply Big Box & Wholesale Store Auto Repair Shop Hair Salon Gym & Fitness Center Department Store Kitchen & Bath Showroom Storage Facility

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Whitmore Lake
    County
    Washtenaw
    State
    Michigan
    Longitude
    -83.764337319924
    Latitude
    42.448647894622

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    FAQs

    What type of property is this?
    Distribution property - 80,000 SF Multi-Tenant Industrial Facility
    Where is this distribution property located?
    The property is located at 10505 Plaza Dr Whitmore Lake, MI.
    What is the lease rate?
    The lease rate is $8 SF/Yr.
    (248) 207-5847 Call to check price and availability
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    10505 Plaza Dr Whitmore Lake, MI 48189
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Reece Hughes
    Reece Hughes
    Real Estate License ID: 6501428750
    (248) 207-5847 (248) 505-0399
    Learn more
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