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    24650 Sherwood Ave Center Line, MI 48015

    Sponsored
    For Sale
    $1,950,000

    14,776 SF Flex/Warehouse, 7% Cap Rate

    Property size:
    14,776 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a 14,776-square-foot flex/warehouse property located at 24650 Sherwood Ave, Center Line, MI 48015. The property, built in 1998, sits on a 1.6-acre lot and boasts a 100% occupancy rate with a diverse tenant mix. The building features two dock-high doors, a 16-foot ceiling height, and ample parking for 100 vehicles. Zoned M-1 Heavy Industrial, this single-story structure offers significant potential for continued growth and strong cash flow. The asking price is $1,950,000, representing a compelling 7.00% capitalization rate. The property is classified as Class C, with a modified lease type and multi-tenancy. Conveniently located just south of 10 Mile Road on Sherwood Avenue in Macomb County, this well-maintained building presents a rare opportunity for investors seeking a stabilized industrial asset with excellent potential. The property's net rentable square footage is 14,776 square feet, with a price per square foot of $155.66. The parcel ID is 01-13-28-202-006. This is a turnkey investment ready for immediate income generation.

    Property Features for 24650 Sherwood Ave

    General Information

    Property type
    Distribution properties
    Square Feet
    14,776 SF
    Class
    C
    Lot Size
    69,696 SF

    Building Details

    Year Built
    1998
    Buildings
    1
    Stories
    1

    HighLights

    • Exceptional investment opportunity in Center Line, MI.
    • 14,776 SF flex/warehouse with 100% occupancy.
    • Well‑maintained building with a diverse tenant mix.
    • Ample parking for 100 vehicles.
    • 1.6‑acre lot, M‑1 zoning.
    • $1,950,000 asking price, 7.00% cap rate.
    Property Profile Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Center Line
    County
    Macomb
    State
    Michigan
    Longitude
    -83.03639619601
    Latitude
    42.474301646893

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    Nearby Similar for Sale

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    FAQs

    What type of property is this?
    Distribution property - 14,776 SF Flex/Warehouse, 7% Cap Rate
    Where is this distribution property located?
    The property is located at 24650 Sherwood Ave Center Line, MI.
    What is the asking price?
    The asking price for this property is $1,950,000.
    What are key features of this property?
    This property features: Exceptional investment opportunity in Center Line, MI.; 14,776 SF flex/warehouse with 100% occupancy.; Well-maintained building with a diverse tenant mix.
    Request Owner's contact information
    24650 Sherwood Ave Center Line, MI 48015
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    Center Line, MI 48015
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    Realmo Value Estimation

    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.

    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.

    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
    24650 Sherwood Ave Center Line, MI 48015
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