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    5 Morelli Dr New Baltimore, MI 48051
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    5 Morelli Dr New Baltimore, MI 48051

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    • Warehouses
    • 23,800 SF
    • 1.77 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 5 Morelli Dr

    Lot size
    1.77 lot acres
    Property size
    23,800 SF
    Property type
    Warehouses
    Property subtype
    Industrial properties

    Description

    This exceptional opportunity presents two remaining lots (Lots 1 & 5) within the Morelli Industrial Subdivision in Chesterfield Township, Michigan, offering build-to-suit warehouse space. Lot 1 accommodates up to 25,350 square feet, while Lot 5 offers up to 23,800 square feet. Both lots are zoned for light industrial use (M-1) and sit on sizable parcels ranging from 1.77 to 2.24 acres. The property boasts a Class A designation and features multi-tenant capabilities. Each lot provides ample parking with 61 spaces. The build-to-suit option allows for customization, including 480-volt power, high ceilings, overhead doors, truck wells, a fire suppression system, and flexible office layouts with restrooms and quality control rooms. All city utilities are readily available. This project benefits from an experienced and reputable industrial developer, ensuring a high-quality construction process. This is a rare chance to secure prime industrial space in a thriving location with excellent amenities. The zip code is 48051.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    New Baltimore
    County
    Macomb
    State
    Michigan
    Longitude
    -82.8374
    Latitude
    42.6799

    Comparable in this City

    • Value Estimation
      $1,950,000
      24,080 SF

      30035 Commerce Blvd

      DISTRIBUTION WAREHOUSE • 24,080 SF
      30035 Commerce Blvd, Chesterfield, MI 48051-1247
      View Details
    • Value Estimation
      $14,845,000
      679,606 SF

      26090 23rd Mile Rd

      MINI-WAREHOUSE, STORAGE • 679,606 SF
      26090 23rd Mile Rd, Chesterfield, MI 48051-1957
      View Details
    • Value Estimation
      $1,210,000
      23,550 SF

      25542 21st Mile Rd

      MINI-WAREHOUSE, STORAGE • 23,550 SF
      25542 21st Mile Rd, Chesterfield, MI 48051-2703
      View Details
    • Value Estimation
      $1,490,000
      26,900 SF

      28170 23rd Mile Rd

      MINI-WAREHOUSE, STORAGE • 26,900 SF
      28170 23rd Mile Rd, Chesterfield, MI 48051-2318
      View Details
    • Value Estimation
      $4,670,000
      82,370 SF

      54561 Gratiot Ave

      MINI-WAREHOUSE, STORAGE • 82,370 SF
      54561 Gratiot Ave, Chesterfield, MI 48051-1725
      View Details
    • Value Estimation
      $1,810,000
      57,417 SF

      52365 Gratiot Ave

      MINI-WAREHOUSE, STORAGE • 57,417 SF
      52365 Gratiot Ave, Chesterfield, MI 48051-2021
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      52,500 SF

      Gratiot Avenue Warehouse For Sale

      Warehouse with frontage on Gratiot Ave, near I-94.
      52365 Gratiot Ave, Chesterfield Township, MI 48051
      View Details
    • $750,000
      5,785 SF

      Remodeled Office/Warehouse on Gratiot Corridor

      5,785 SF remodeled office and warehouse on 0.71 acres.
      55951 Gratiot Ave, New Baltimore, MI 48051
      View Details
    • Contact for pricing

      Gratiot Avenue Redevelopment Opportunity

      Main road frontage with renovation and redevelopment potential.
      52365 Gratiot Ave, Chesterfield, MI 48051
      View Details
    • $549,990
      9,005 SF

      Chesterfield Industrial Property - High Revenue

      Profitable Business, Established Location, Immediate Income
      52050 Gratiot Ave, Chesterfield, MI 48051
      View Details
    • Contact for pricing

      Manufacturing Buildings with Office Space

      Two manufacturing buildings with office space for sale.
      24 Mile And Gratiot, Chesterfield Township, MI 48051
      View Details
    • $2,795,000

      Manufacturing Facility with Heavy Duty Storage

      Manufacturing facility with heavy-duty vinyl storage structure.
      Chesterfield Twp, New Baltimore, MI 48051
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Industrial Building Under Development

      20,320 SF industrial building with customizable office space.
      56461 Precision Dr, Chesterfield, MI 48051
      View Details
    • $17 SF/Yr

      New Industrial Multi-Tenant Building

      39,800 SF industrial building with flexible leasing options.
      30801 Commerce Blvd, Chesterfield, MI 48051
      View Details
    • Contact for pricing
      21,280 SF

      Industrial Facility Near I-94

      Versatile industrial facility suitable for distribution and manufacturing.
      30505 Commerce Blvd, Chesterfield, MI 48051
      View Details
    • $4 SF/Yr

      Gratiot Avenue Industrial Space Available

      Industrial property with main road frontage and redevelopment potential.
      52365 Gratiot Ave, Chesterfield, MI 48051
      View Details
    • Contact for pricing

      Heavy Manufacturing Facility For Rent

      Heavy manufacturing facility with office, power, and storage yard.
      50270 E Russell Schmidt Blvd, Chesterfield, MI 48051
      View Details
    • Contact for pricing

      Turnkey Restaurant Space Available

      Restaurant space in a busy center on 23 Mile Road.
      27801 23 Mile Rd, Chesterfield, MI 48051
      View Details
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    New Baltimore, MI 48051
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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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