Free Standing Industrial
385 N Mill St South Lyon, MI 48178
385 N Mill St, South Lyon, MI, 48178
Contact for pricing
For Sale
Contact for pricing
Free standing industrial warehouse building available for sale.
Property Size18,000 SF
Price / SF$83.33
Days on Market894
Property Features for 385 N Mill St
General Information
- Standard status
- Active
- Size
- 18,000 SF
- Property subtype
- Industrial
Building Details
- Year Built
- 1960
Listing agency
Thomas Duke Company
(248) 476-3700
Listed by
Mark Szerlag · License #MI 6502342846
Source
Crexi
Added: Feb 8, 2024 Updated: Jul 6 at 8:25AM Checked: Jul 19 at 6:44AM
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 Thomas Duke Company
Investment Insights
Based on property information with market context.
This is a free standing industrial warehouse building. The property has a size of 18000 square feet.
Key Highlights
- Free Standing Building
- Industrial Warehouse
- Warehouse Building
Local Financial Insights For Warehouse
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 | $132.3k | $7.35 |
| − Vacancy | −$4.9k | −$0.27 |
| EGI | $127.4k | $7.08 |
| − OpEx | −$19.1k | −$1.06 |
| NOI | $108.3k | $6.02 |
18,000 SF · lease $7.35/SF/yr · vacancy 3.70% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$1.55M
$1.35M – $1.80M
NOI $108,294 @ 7.0% cap · market cap 7.22%
Second Best
Industrial
$1.27M
$1.11M – $1.49M
NOI $89,183 @ 7.0% cap · market cap 5.95%
Theoretical Best
Specialty Retail
$3.88M
$3.40M – $4.53M
NOI $271,771 @ 7.0% cap · market cap 18.12%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
G.M. Refractories, Inc
Factory
Industrial Commercial Construction
Construction Company
South Lyon Machine ...
Industrial Manufacturer
Similar For Sale Nearby
Similar Off Market Nearby
- Self Storage Secure — 626 N Lafayette St, South Lyon, MI 48178
- SpareBox Storage — 271 Lottie St, South Lyon, MI 48178
FAQs
What type of property is this?
Warehouse - Free standing industrial warehouse building available for sale.
Where is this warehouse located?
The property is located at 385 N Mill St South Lyon, 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: Free Standing Building; Industrial Warehouse; Warehouse Building
