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Property profile & analytics
OFF-MARKET
Estimated value
$1,250,000
Manufacturing properties
32411 Industrial Dr, Madison Heights, MI 48071-1528
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-1826958
Property summary
AI-generated overview
This exceptional 14,288-square-foot multi-tenant property, located at 32411 Industrial Drive in Madison Heights, Michigan, presents a compelling investment opportunity. The Class B building, constructed in 1984 and renovated in 2017, sits on a 1.04-acre lot and features a single story with 16-foot ceilings. The property boasts two units, 35 parking spaces, and two dock-high doors, making it ideal for various industrial and office uses. Zoned M-1 Light Industrial, this property offers convenient access to major highways. The asking price is $2,000,000, translating to $139.98 per square foot. The property includes a clear-span shop area, making it suitable for a variety of manufacturing or storage needs. A three-year lease term is available. The property's features, including ample parking and convenient highway access, create a productive work environment, perfect for business expansion or relocation. The APN is 2501202024. This is a solid manufacturing building in a prime location.
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1984
Total area
14,275 SF
Lot
1.04 ac (45,302 SF)
Zoning code
M-1 LT
APN
44-25-01-202-024
UPID
US43-1826958
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
-
Dumpster Depot Waste Management Facility Hazardous Waste Disposal
-
Infinity Events LLC Wedding Service Event Planning
-
Top Notch Party Bus & Limousine Limousine Service Airport
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.09M
Comparable Approach
Comparable
$1.25M
Blend (final)
Blend
$1.25M
Owner & transaction history
Pattah And Yaldo Madison Hts LLC · 4 yrs held
Pattah And Yaldo Madison Hts LLC
since 2022
Last sale
$1.3M
2 recorded transactions
Zoning & alternative use
M-1 LT · Madison Heights, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.8M
+63.1%
Office building
$1.7M
+56.0%
Neighborhood: shopping center
$1.3M
+23.8%
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 Madison Heights submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Madison Heights 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
$1,325,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,180,000
6.5%
$1,090,000
7%
$1,010,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,075,000
Current use
AUTO REPAIR, GARAGE
$1,750,000
Change: +63% · Conversion: Easy
OFFICE BUILDING
$1,675,000
Change: +56% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,330,000
Change: +24% · Conversion: Difficult
Blend value · Realmo final
$1.25M
Range $1.13M – $1.38M · ±10% · vs last sale $1.25M (Feb 28 2022)
Last sale anchor
$1.25M
Feb 28 2022
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
$88 / 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
$29,179
Tax year 2023
Assessed value
$489,480
Assessed 2024
Previous assessed
$459,510
+6.5% YoY
Effective rate
5.96%
On assessed value
Total market value
$978,960
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1984
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
14,275 SF
Lot
1.04 ac (45,302 SF)
Zoning code
M-1 LT
APN
44-25-01-202-024
UPID
US43-1826958
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
M-1 LT · Madison Heights, MI
Zoning M-1 LT · permitted uses
M-1 LT · Madison Heights, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Madison Heights. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$1.8M
OFFICE BUILDING
Est. value
$1.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.3M
INDUSTRIAL (GENERAL) Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
1984
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
1.04 ac
Current owner
From public records · entity-resolved
Pattah And Yaldo Madison Hts LLC
Entity
Free & Clear · 4 yrs held
Mailing address
31700 MIDDLEBELT RD STE #250, FARMINGTON HILLS, MI 48334-2318
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 23, 2022
—
Pattah And Yaldo Madison Hts LLC
—
Deed
related
$1,000,000 · Bank Of Ann Arbor
Feb 28, 2022
$1,250,000
Pattah And Yaldo Madison Hts LLC
Honhart Mid Nite Black Company
Warranty Deed
—
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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