85 Myron St Ortonville, MI 48462-8824
- Warehouses
- 31,220 SF
- 1.61 lot acres
Current Use by Public Records
- Warehouses
Property Details for 85 Myron St
- Year built
- 1981
- Lot size
- 1.61 lot acres
- Property size
- 31,220 SF
- Zone code
- AI
- Property type
- Warehouses
- APN
- DO-03-07-301-013
- APU
- DO0307301013
Description
Exceptional investment opportunity: a 35,000 square foot industrial/flex/warehouse property located at 85 Myron St, Brandon Township, MI 48462. This single-tenant net-leased asset boasts a 100% occupancy rate with Angstrom Automotive, under a lease expiring November 2, 2024. The property, built in 1981, sits on a 1.61-acre lot and offers a compelling cap rate of 10.34% with a current NOI of $150,000. The asking price is $1,450,000, translating to $41.43 per square foot. Benefiting from a high-traffic location along Myron Street and N Ortonville Road (over 18,990 vehicles daily), the property enjoys proximity to major national retailers such as Ace Hardware, Dollar Tree, and Rite Aid. The surrounding area demonstrates strong demographics, with average household incomes exceeding $116,500 within a 5-mile radius. Zoned AI, this property is ideally suited for industrial/flex/warehouse uses. Its convenient location is approximately 20 miles from Bishop International Airport. The lease commenced May 3, 2018, and while the remaining lease term is currently zero years, the strong location and tenant history make this a potentially lucrative investment. The property's size and location make it a prime candidate for future development or continued operation under a new lease.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Ortonville
- County
- Oakland
- State
- Michigan
- Longitude
- -83.4519
- Latitude
- 42.8543
- CBSA code
- 19820
- CBSA name
- DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
