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    7240-7248 Haggerty Rd Canton, MI 48187
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    7240-7248 Haggerty Rd Canton, MI 48187

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    • Warehouses
    • 12,000 SF
    • 2.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 7240-7248 Haggerty Rd

    Year built
    1988
    Lot size
    2.00 lot acres
    Property size
    12,000 SF
    Property type
    Warehouses
    Property subtype
    Industrial properties

    Description

    This exceptional light industrial property, located at 7240-7248 N Haggerty Road in Canton, Michigan, offers 12,000 square feet of versatile warehouse, manufacturing, and distribution space. The property features four individual suites, with a minimum divisible space of 3,000 square feet, providing flexibility for various business needs. Built in 1988, the building boasts a 16-foot ceiling height, ideal for storage and operations. Ample parking is available with 30 spaces, and four convenient drive-in doors ensure efficient loading and unloading. Situated on two acres of land in Wayne County, the property is zoned for light industrial use. Its strategic location offers easy access to major expressways and local amenities, providing convenient commutes for employees and clients. The property's proximity to the Canton-Plymouth Mettetal Airport is a significant advantage for businesses requiring air freight access. This is a unique opportunity for businesses seeking a well-maintained, functional space in a thriving commercial area. The property is perfect for businesses needing minimal office space and high clearance.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Canton
    County
    Wayne
    State
    Michigan
    Longitude
    -83.4442
    Latitude
    42.3383

    Comparable in this City

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      8349 Ronda Dr

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      Warren Rd

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    • Value Estimation
      $3,155,000
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      7171 Haggerty Rd

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      7171 Haggerty Rd, Canton, MI 48187-2452
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    • Value Estimation
      $14,435,000
      376,068 SF

      7900 Haggerty Rd

      DISTRIBUTION WAREHOUSE • 376,068 SF
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    • Value Estimation
      $705,000
      10,860 SF

      8750 Ronda Dr

      WAREHOUSE, STORAGE • 10,860 SF
      8750 Ronda Dr, Canton, MI 48187-2005
      View Details

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      Canton Industrial Property - Turnkey Auto Business

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    • $475,000
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      Royal Holiday Manufactured Homes

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    • $360,000
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    Similar Nearby for Lease

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      161,608 SF

      Canton Industrial Land - Warren Rd

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      0 Warren Rd, Canton, MI 48187
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    • $26 SF/Yr

      Canton Commercial Office and Storage

      Office suites and lower-level commercial space for lease.
      8582 N Canton Center Rd, Canton, MI 48187
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    • $6 SF/Yr

      Canton Flex Space For Rent

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    • Contact for pricing
      9,650 SF

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      Renovated office center with landscaping, visibility, and highway access.
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      Retail Space in Canton Corners

      Retail space available in a busy Canton location.
      42405 Ford Rd, Canton, MI 48187
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    • Contact for pricing
      3,549 SF

      Retail Space in Canton Corners

      Retail space available in busy Canton, Michigan shopping center.
      42645 Ford Rd, Canton, MI 48187
      View Details
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    Canton, MI 48187
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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.

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