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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    32102 Howard Ave Madison Heights, MI 48071-1451

    • Warehouses
    • 7,954 SF
    • 0.55 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-0169713
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Royal Tahini / Manufacturer

    Property Details for 32102 Howard Ave

    Year built
    1976
    Lot size
    0.55 lot acres
    Property size
    7,954 SF
    Zone code
    M-1 LT
    Property type
    Warehouses
    APN
    44-25-01-182-027
    APU
    442501182027

    Description

    This exceptional 7,960-square-foot warehouse, located at 32102 Howard Ave in Madison Heights, Michigan, presents a fantastic leasing opportunity. Situated on a 0.55-acre lot, this single-story, 1976-built industrial property boasts a spacious layout ideal for various business needs. The warehouse features a generous 18-foot ceiling height, providing ample vertical storage space. Access is convenient with one dock-high door and one drive-in door, facilitating efficient loading and unloading. The property also includes 20 parking spaces for employees and clients. Power is supplied by an 800 AMP, 240-volt system, ensuring sufficient capacity for most industrial operations. The entire 7,960 square feet is currently vacant and ready for immediate occupancy. The property is zoned for light industrial use and enjoys a prime location with convenient access to Whitcomb Ave and John R Road. This is a rare opportunity to secure a well-maintained, functional warehouse in a desirable Madison Heights location. The property's features make it suitable for a wide range of businesses seeking a versatile and efficient workspace. Don't miss out on this chance to establish your business in this strategically located industrial space. The zip code is 48071.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Madison Heights
    County
    Oakland
    State
    Michigan
    Longitude
    -83.0987
    Latitude
    42.5287
    CBSA code
    19820
    CBSA name
    DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $7,228
    $0.00
    $0.00
    $232,670
    -
    $0.00
    $0.00
    $465,340

    Comparable in this City

    • Value Estimation by Request
      10,955 SF

      31431 John R Rd

      WAREHOUSE, STORAGE • 10,955 SF
      31431 John R Rd, Madison Heights, MI 48071-4653
      View Details
    • Value Estimation by Request
      8,000 SF

      32251 Dequindre Rd

      WAREHOUSE, STORAGE • 8,000 SF
      32251 Dequindre Rd, Madison Heights, MI 48071-1516
      View Details
    • Value Estimation by Request
      3,680 SF

      25107 Dequindre Rd

      WAREHOUSE, STORAGE • 3,680 SF
      25107 Dequindre Rd, Madison Heights, MI 48071-4245
      View Details
    • Value Estimation by Request
      5,000 SF

      25524 John R Rd

      WAREHOUSE, STORAGE • 5,000 SF
      25524 John R Rd, Madison Heights, MI 48071-4014
      View Details
    • Value Estimation by Request
      5,460 SF

      32090 John R Rd

      WAREHOUSE, STORAGE • 5,460 SF
      32090 John R Rd, Madison Heights, MI 48071-1321
      View Details
    • Value Estimation by Request
      47,200 SF

      32766 John R Rd

      WAREHOUSE, STORAGE • 47,200 SF
      32766 John R Rd, Madison Heights, MI 48071-4728
      View Details

    Similar Nearby for Sale

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      Madison Heights Industrial Warehouse

      18,105 SF industrial warehouse available for sale.
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      6,500 SF

      Madison Heights Warehouse - 6,500 SF

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    • $815,000
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      Madison Heights Light-Industrial Opportunity

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    • $400,000
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      Madison Heights Industrial/Flex Space

      3,500 SF industrial/flex space in Madison Heights, Michigan.
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    Similar Nearby for Lease

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      Lincoln Ave Warehouse For Lease

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    • $7 SF/Yr
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      Madison Heights Flex/Warehouse Space

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    • $7 SF/Yr
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      Madison Heights Flex Space Available

      Flex space with excellent accessibility and expansion opportunities.
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    • $6,500 /Mo

      Madison Heights Warehouse or Office

      10,000 SF space for warehouse, office, or combination.
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    • $8 SF/Yr
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      Madison Heights Warehouse Space Available

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      View Details
    • Contact for pricing
      28,000 SF

      Stephenson Hwy Commercial Space

      Flexible Suites, Abundant Parking, I-75 Access
      30773 Stephenson Hwy, Madison Heights, MI 48071
      View Details
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    Madison Heights, MI 48071-1451
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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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