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Property profile & analytics
FOR LEASE
Industrial properties
24387 Halsted Rd Farmington Hills, MI 48335
Individually Owned
9-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-1475301
For Lease
$1,980,000
24387 Halsted Rd, Farmington Hills, MI 48335
View Listing →
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL LOFT BUILDING
Year built
1987
Total area
42,748 SF
Lot
3.34 ac (145,490 SF)
Zoning code
II
APN
22-23-19-426-048
UPID
US43-1475301
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.98M
Owner & transaction history
Lion Inv · 9 yrs held
Lion Inv
since 2017
5 recorded transactions
Zoning & alternative use
II · Farmington Hills, 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 Farmington Hills submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Farmington Hills 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$46 / 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
$59,420
Tax year 2023
Assessed value
$1,335,750
Assessed 2024
Previous assessed
$1,281,520
+4.2% YoY
Effective rate
4.45%
On assessed value
Assessed land
$230,430
Assessed improvement
$1,105,320
Land market value
$460,860
Improvement market value
$2,210,640
Total market value
$2,671,500
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 LOFT BUILDING
Status
For Lease
Year built
1987
Heating
FORCED AIR
Stories
1
Total area
42,748 SF
Lot
3.34 ac (145,490 SF)
Zoning code
II
APN
22-23-19-426-048
UPID
US43-1475301
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
II · Farmington Hills, MI
Zoning II · permitted uses
II · Farmington Hills, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Farmington Hills. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1987
Heating
FORCED AIR
Stories
1
Lot
3.34 ac
Current owner
From public records · entity-resolved
Lion Inv
Individual
Mailing address
31313 NORTHWESTERN HWY STE #201, FARMINGTON HILLS, MI 48334-2577
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 24, 2017
$2,442
Lion Inv
Halsted Tech Center LLC
Warranty Deed
—
Nov 8, 2004
—
Halsted Tech Center LLC
Hal-tech LLC
Warranty Deed
$2,800,000 · Standard Federal Bank
Dec 10, 1998
—
Hal-tech LLC
Halstead Technical Associates
Grant Deed
$1,625,000 · Standard Federal Bank
—
—
Hal-tech
—
Deed Of Trust
related
$325,000 · Standard Federal Bank
—
—
Halsted Tech Center LLC
—
Deed Of Trust
related
$1,800,000 · First Michigan Bank
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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