Romulus Warehouse For
For Sale
Contact for pricing
35445 Genron Ct, Romulus, MI 48174
21,341 sqft warehouse available for purchase in Romulus.
Property Size21,341 SF
Price / SF$70.29
Days on Market924
Property Features for 35445 Genron Ct
General Information
Standard status
Active
Size
21,341 SF
Total Parking Spaces
20
Property subtype
Industrial
Zoning
Industrial
Building Details
Year Built
1978
Stories
1
Listing Agency:
Friedman Real Estate
(248) 324-2000
Listed By:
Rick Kaplan · License #MI
Source:
Crexi
Added: Feb 20, 2024
Changed: Aug 17
Last Checked: Aug 28 at 2:06PM
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 Real Estate
Investment Insights
Based on property information with market context.
This commercial real estate offering features a 21,341 square foot warehouse property available for sale. The property is located in Romulus, Michigan.
Key Highlights
- Established neighborhood (built in 1978)
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
$134,159
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
8.94%
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%
$2,683,180
$2.7M
Cap Rate 7%
$1,916,557
$1.9M
Cap Rate 9%
$1,490,656
$1.5M
Market Conditions
NOI Build-Up for 21,341 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
$163.9K $7.68/SF
− Vacancy
−$6.1K −$0.28/SF
EGI
$157.8K $7.40/SF
− OpEx
−$23.7K −$1.11/SF
NOI
$134.2K $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%
$2,683,180
Cap Rate 7%
$1,916,557
Cap Rate 9%
$1,490,656
Alternative Uses
Best Use
Warehouse
$1.92M
$1.68M – $2.24M
NOI $134,159 @ 7.0% cap · market cap 8.94%
Second Best
Industrial
$1.58M
$1.38M – $1.84M
NOI $110,484 @ 7.0% cap · market cap 7.37%
Theoretical Best
Specialty Retail
$3.95M
$3.46M – $4.61M
NOI $276,579 @ 7.0% cap · market cap 18.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
66
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48174, MI
33,683
Population
13,124
Households
2.6
Avg Household Size
38
Median Age
17%
College-Educated
89%
High-School Grad
40.8 sq mi
ZIP Area
826
Density / Sq Mi
$65,675
Median Household Income
$41,186
Median Earnings
$1,053
Median Rent
$151,500
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- KLS Romulus — 15520 Wayne Rd, Romulus, MI 48174
Frequently Asked Questions
What type of property is this?
Warehouse - 21,341 sqft warehouse available for purchase in Romulus.
Where is this warehouse located?
The property is located at 35445 Genron Ct Romulus, MI.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Established neighborhood (built in 1978)
