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Property profile & analytics
OFF-MARKET
Estimated value
$1,605,000
Industrial properties
22750 Heslip Dr, Novi, MI 48375-4143
Entity Owned
21-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-5243385
Property summary
AI-generated overview
This exceptional 32,230-square-foot industrial property, located at 22750 Heslip Drive in Novi, Michigan, 48375, presents a significant opportunity for businesses seeking ample space and robust infrastructure. The single-story building, constructed in 1978, sits on a 2.79-acre lot and is zoned for light industrial use. The entire 32,230 square feet is currently vacant, offering immediate occupancy. The high ceiling height of 18 feet 8 inches provides excellent vertical clearance for various industrial applications. Two loading docks facilitate efficient loading and unloading operations. The property boasts substantial power capacity, featuring 3,200 amps, 480 volts, and 3-phase power, suitable for energy-intensive manufacturing processes. This versatile space is ideal for a range of commercial and manufacturing businesses seeking a well-located, functional facility in Novi, Michigan. The property's location offers convenient access to major transportation routes, enhancing logistical efficiency. The property is available for lease.
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1978
Total area
32,231 SF
Lot
2.73 ac (118,919 SF)
Zoning code
I-1
APN
50-22-26-327-013
UPID
US43-5243385
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Michigan Custom Machines Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.98M
Blend (final)
Blend
$1.61M
Owner & transaction history
Mgs Co LLC · 21 yrs held
Mgs Co LLC
since 2004
4 recorded transactions
Zoning & alternative use
I-1 · Novi, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Novi submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Novi submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$2,610,000
Current use
Blend value · Realmo final
$1.61M
Range $1.44M – $1.77M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$50 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$31,874
Tax year 2023
Assessed value
$720,950
Assessed 2023
Previous assessed
$720,950
+0.0% YoY
Effective rate
4.42%
On assessed value
Total market value
$1,441,900
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1978
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
1
Total area
32,231 SF
Lot
2.73 ac (118,919 SF)
Zoning code
I-1
APN
50-22-26-327-013
UPID
US43-5243385
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
I-1 · Novi, MI
Zoning I-1 · permitted uses
I-1 · Novi, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Novi. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$2.6M
INDUSTRIAL (GENERAL) Current
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1978
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
2.73 ac
Current owner
From public records · entity-resolved
Mgs Co LLC
Entity
Mailing address
1148 CLEAR CRK DR, ROCHESTER HILLS, MI 48306-3577
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 20, 2004
$1,700,000
Mgs Co LLC
Alpha Industries INC
Warranty Deed
$1,198,245 · Comerica Bank
—
—
Mgs Co LLC
—
Deed Of Trust
related
—
—
—
Mgs Co LLC
—
Deed Of Trust
related
$2,217,000 · Pnc Bank
—
—
Mgs Co LLC
—
Deed Of Trust
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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