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    Development Dr Almont, MI 48003
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    Development Dr, Almont, MI 48003

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    • Warehouses
    • 22,721 SF
    • 2.50 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 0 Development Dr

    Year built
    2023
    Lot size
    2.50 lot acres
    Property type
    Warehouses
    Property subtype
    Life science properties

    Description

    This exceptional Class A industrial property, located at 4639 Development Drive, Almont, MI 48003, offers 22,721 square feet of versatile space, ideal for manufacturing, warehousing, R&D, or flex uses. The single-tenant building, completed in 2023, features a 2,325 square foot office area and a spacious 20,396 square foot warehouse. The warehouse boasts a 20-foot clear height ceiling, enhancing operational efficiency. Loading and unloading are facilitated by one depressed loading dock and one drive-in, at-grade overhead door. Ample parking is provided with 45 spaces. The building's robust electrical system includes 1,000 Amps, 480/277 volt, 3-phase power (75 KVA transformer). Situated on approximately 2.4 acres, the property offers approximately 200 feet of road frontage on Development Drive, with convenient access to Research Drive and Highway 53 (approximately ½ mile west) and Interstate 69 (five miles north). The property is zoned for industrial use and is located in Lapeer County, within the Lapeer and St. Clair Counties submarket. A Michigan Tax Abatement is available. The property is offered for a net lease

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Almont
    County
    Lapeer
    State
    Michigan
    Longitude
    -83.0485
    Latitude
    42.9308

    Comparable in this City

    • Value Estimation by Request
      40,800 SF

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    • Value Estimation by Request
      35,586 SF

      3777 Van Dyke Rd

      DISTRIBUTION WAREHOUSE
      3777 Van Dyke Rd, Almont, MI 48003-8044
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    • Value Estimation by Request
      9,550 SF

      3821 Van Dyke Rd Ste A

      DISTRIBUTION WAREHOUSE
      3821 Van Dyke Rd Ste A, Almont, MI 48003-8055
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    • Value Estimation by Request
      5,168 SF

      215 Br St

      MINI-WAREHOUSE, STORAGE
      215 Br St, Almont, MI 48003-1004
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    • Value Estimation by Request
      4,076 SF

      134 Main St

      MINI-WAREHOUSE, STORAGE
      134 Main St, Almont, MI 48003-1066
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    • Value Estimation by Request
      16,000 SF

      3845 Van Dyke Rd

      MINI-WAREHOUSE, STORAGE
      3845 Van Dyke Rd, Almont, MI 48003-8021
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      22,271 SF

      New Flex Space in Almont

      New flex space with customization options and tax abatement.
      4639 Development Dr, Almont, MI 48003
      View Details
    • $279,000
      3.20 Acres

      Almont Industrial Land - $279K

      3.196-acre industrial lot, build-to-suit.
      0 Research Dr, Almont, MI 48003
      View Details
    • $249,000

      Industrial Lot in Almont Park

      2.8-acre industrial lot with utilities ready for construction.
      10 - Almont Research & Industrial Park, Almont, MI 48003
      View Details
    • Contact for pricing

      3.196 Acres Commercial Land

      Commercial land for sale with utilities on-site and ready.
      Research Dr, Almont, MI 48003
      View Details
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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
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