Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1171-1245 Chicago Rd Troy, MI 48083
    Back to Search
    Property profile & analytics

    1171-1245 Chicago Rd, Troy, MI 48083

    View on Map
    • Warehouses
    • 75,300 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 1171-1245 Chicago Rd

    Year built
    1978
    Property type
    Warehouses
    Property subtype
    Industrial properties

    Description

    This exceptional industrial property, located at 1171-1245 Chicago Road in Troy, Michigan, offers a prime opportunity for businesses seeking warehouse or distribution space. The single-story building, constructed in 1978, boasts a total of 75,300 square feet, with 2,520 square feet currently available for lease. Situated on a generous 5.16-acre lot, the property features a 16-foot ceiling height, providing ample vertical space for storage and operations. The building includes one drive-in door for convenient loading and unloading. Power options include 300 amp, 220-240 volt, and 3-phase power, catering to a variety of industrial needs. The property is zoned for light industrial use and is conveniently located south of Maple in the Troy South submarket of Oakland County. The address is 1171-1245 Chicago Rd, Troy, MI 48083. This multi-tenant building presents a versatile solution for businesses requiring flexible space in a well-established industrial area. The property's size, location, and amenities make it an ideal choice for a variety of industrial operations. Don't miss this chance to secure your space in this desirable Troy location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Troy
    County
    Oakland
    State
    Michigan
    Longitude
    -83.115
    Latitude
    42.5463

    Comparable in this City

    • Value Estimation by Request
      8,798 SF

      1100-1174 Owendale St

      Distribution properties
      1100-1174 Owendale St, Troy, MI 48083
      View Details
    • Value Estimation by Request
      19,305 SF

      395-447 Elmwood Dr

      Business parks
      395-447 Elmwood Dr, Troy, MI 48083
      View Details
    • Value Estimation by Request
      6,800 SF

      629 Minnesota Rd

      Distribution properties
      629 Minnesota Rd, Troy, MI 48083
      View Details
    • Value Estimation by Request
      15,520 SF

      2876 Elliott Ave

      Distribution properties
      2876 Elliott Ave, Troy, MI 48083
      View Details
    • Value Estimation by Request
      58,072 SF

      1220-1270 Rankin St

      Distribution properties
      1220-1270 Rankin St, Troy, MI 48083
      View Details
    • Value Estimation by Request
      28,000 SF

      1301-1307 Rankin St

      Distribution properties
      1301-1307 Rankin St, Troy, MI 48083
      View Details

    Similar Nearby for Sale

    • $999,000

      Freestanding Industrial Building For Sale

      7,480 SF industrial building with warehouse and office space.
      1216 Combermere Dr, Troy, MI 48083
      View Details
    • Contact for pricing
      4,940 SF

      Industrial Warehouse Space Available

      4,940 SF industrial warehouse property for sale.
      2011 Livernois, Troy, MI 48083
      View Details
    • Contact for pricing
      52,919 SF

      Manufacturing Warehouse Near I-75 Freeway

      Spacious 52,919 sq ft manufacturing warehouse in Troy, Michigan.
      1410 Allen Dr, Troy, MI 48083
      View Details
    • Contact for pricing
      52,919 SF

      Troy Manufacturing Warehouse Opportunity

      Spacious 52,919 sqft manufacturing warehouse in prime Troy location.
      1410 Allen Dr, Troy, MI 48083
      View Details
    • $1,890,000
      24,776 SF

      2045 Austin Dr, Troy, MI 48083

      Industrial properties
      2045 Austin Dr, Troy, MI 48083
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Flex Space with Office Area

      2,460 SF flex space featuring office and warehouse components.
      1397 Piedmont Ave, Troy, MI 48083
      View Details
    • Contact for pricing

      Warehouse/Manufacturing Building Near I-75

      Up to 33,670 SF available, less than one mile from I-75.
      1300-1322 Rankin Dr, Troy, MI 48083
      View Details
    • Contact for pricing

      Office/Warehouse Complex with I-75 Exposure

      Well-maintained office/warehouse complex with I-75 visibility and grade-level door.
      1395 Wheaton Ave, Troy, MI 48083
      View Details
    • Contact for pricing

      Troy Flex Space Available

      6,001 SF flex space with office area for lease.
      1391 Wheaton Ave, Troy, MI 48083
      View Details
    • Contact for pricing
      10,830 SF

      Industrial Flex Space Available

      10,830 SF flex space with warehouse and office components.
      388 Robbins Dr, Troy, MI 48083
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1171-1245 Chicago Rd
    Troy, MI 48083
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1171-1245 Chicago Rd, Troy, MI, 48083
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!