Flex Industrial Building with Fenced
New
For Sale
$1,250,000
949 LADD RD, Walled Lake, MI 48390
Warehouse, office, mezzanine areas, and a fenced outdoor yard support flexible commercial operations.
Property Size15,294 SF
Price / SF$81.73
Days on Market5
Property Features for 949 LADD RD
General Information
Standard status
Active
Size
15,294 SF
Property subtype
Industrial
Property Condition
Severity
Repairs Needed
Evidence
needs your finishing touches
Additional Details
Business Included
Yes
Fenced Yard
Yes
Office Build-Out
1,850 SF
Amenities
kitchen area
277442
Building Details
Year Built
19
Buildings
1
Building Size
15,294 SF
Listing Agency:
KW Showcase Realty
(248) 360-2900
Listed By:
Ellias Saad · License #6501421436
(248) 795-9286
Source:
Xome
Added: Aug 29
Changed: Sep 1
Last Checked: Sep 1 at 8:31PM
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 KW Showcase Realty
Investment Insights
Based on property information with market context.
This flex space includes a 15,294 sq ft industrial building with approximately 1850 sq ft of office area, 3 bathrooms, a kitchen area, 2 mezzanines, and a large warehouse. The property also includes a fully fenced yard and a separate lot positioned at the corner of the property. The building requires finishing work and is being offered with the current storage business, which is marketed separately. Located in Walled Lake, the property provides a combination of indoor work, storage, and office areas within one commercial asset.
Key Highlights
- 15,294 sq ft industrial building
- Approximately 1850 sq ft of office space
- Large warehouse with 2 mezzanines
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
$92,014
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
7.36%
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%
$1,840,280
$1.8M
Cap Rate 7%
$1,314,486
$1.3M
Cap Rate 9%
$1,022,378
$1.0M
Market Conditions
NOI Build-Up for 15,294 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
$112.4K $7.35/SF
− Vacancy
−$4.2K −$0.27/SF
EGI
$108.3K $7.08/SF
− OpEx
−$16.2K −$1.06/SF
NOI
$92.0K $6.02/SF
Area
Oakland County, MI
Vacancy
3.70%
Lease Rate
$7.35 /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%
$1,840,280
Cap Rate 7%
$1,314,486
Cap Rate 9%
$1,022,378
Alternative Uses
Best Use
Flex RnD
$2.26M
$1.98M – $2.64M
NOI $158,183 @ 7.0% cap · market cap 12.65%
Second Best
Warehouse
$1.31M
$1.15M – $1.53M
NOI $92,014 @ 7.0% cap · market cap 7.36%
Theoretical Best
Specialty Retail
$3.30M
$2.89M – $3.85M
NOI $230,915 @ 7.0% cap · market cap 18.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
402
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48390, MI
24,273
Population
10,995
Households
2.2
Avg Household Size
44
Median Age
43%
College-Educated
96%
High-School Grad
12.5 sq mi
ZIP Area
1,942
Density / Sq Mi
$89,411
Median Household Income
$53,442
Median Earnings
$1,575
Median Rent
$287,900
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Skosh Catering — 126 Ferland St, Walled Lake, MI 48390
Frequently Asked Questions
What type of property is this?
Flex space - Warehouse, office, mezzanine areas, and a fenced outdoor yard support flexible commercial operations.
Where is this flex space located?
The property is located at 949 LADD RD Walled Lake, MI.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 15,294 sq ft industrial building; Approximately 1850 sq ft of office space; Large warehouse with 2 mezzanines
