Industrial/Flex | Farmington Hills, MI | 24435 Halsted Rd
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Industrial/Flex | Farmington Hills, MI 24435 Halsted Rd
15,170 SF Vacant Light Industrial Building Online Auction Sale Farmington Hills, MI 48335
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Investment Highlights
- Freestanding 15,170-SF industrial/flex property with desirable visibility and extreme accessibility in Farmington Hills, Michigan, in the Detroit MSA.
- Premium owner/user or value-add investment opportunity to acquire a dynamic asset encompassed by a highly educated and skilled workforce.
- Strategically positioned within a 5-mile radius of popular retailers, including Costco, Walmart Supercenter, Target, Kroger, The Home Depot, and more.
- Prominently located with immediate access to major highways I-275, I-696, and M-5 within proximity to retail corridors boasting renowned businesses.
- Excellently situated over 0.74 acres of LI-1, Light Industrial zoned land with ample on-site surface parking and equipped with one drive-in door.
- Preferably surrounded by affluent demographics where residents within a 5-mile radius produce an average household income of nearly $122,000.
Executive Summary
Incredibly positioned freestanding industrial/flex building with superb visibility and signage to Halsted Road in Farmington Hills, Michigan, a part of the Detroit metropolitan area. 24435 Halsted Road is advantageously located just north of the heavily traveled Grand River Avenue and is less than 2 miles from the major Interstate 696, Interstate 275, and Michigan Highway 5 three-point interchange. The property benefits from its proximity to surrounding car dealerships and similar businesses occupying a significant amount of office and industrial space within the marketplace.
24435 Halsted Road stands at a total of 15,170 square feet with 13,770 square feet allocated on the first floor and 1,400 square feet on the second floor. The second level is perfect for either additional office space or storage capabilities. The property is excellently equipped with air conditioning throughout 90% of the building and features 1,200-amp/240-volt 3-phase electricity. The asset is beneficially situated over 0.74 LI-1, Light Industrial zoned acres with ample surface parking and one drive-in door.
24435 Halstead Road is beneficially situated within a 5-mile radius of numerous reputable retailers including Costco, Walmart Supercenter, Target, Kroger, Trader Joe’s, Meijer, Whole Foods Market, The Home Depot, and more. Encompassed by this mileage also includes a dense population of more than 190,700 residents who bring in an affluent household income of $121,777. This encircling population features a highly educated and skilled workforce, as 57% of these residents obtain a bachelor’s degree or higher.
An owner-user or experienced investor could acquire this asset for immense purposes as it is optimally situated by a plethora of amenities and convenient travel options. This property serves as a supreme opportunity for any warehouse and showroom business seeking a well-built R&D building and exceptionally positioned industrial facility.
Property tours are available by appointment only. Please contact the broker to schedule.
24435 Halsted Road stands at a total of 15,170 square feet with 13,770 square feet allocated on the first floor and 1,400 square feet on the second floor. The second level is perfect for either additional office space or storage capabilities. The property is excellently equipped with air conditioning throughout 90% of the building and features 1,200-amp/240-volt 3-phase electricity. The asset is beneficially situated over 0.74 LI-1, Light Industrial zoned acres with ample surface parking and one drive-in door.
24435 Halstead Road is beneficially situated within a 5-mile radius of numerous reputable retailers including Costco, Walmart Supercenter, Target, Kroger, Trader Joe’s, Meijer, Whole Foods Market, The Home Depot, and more. Encompassed by this mileage also includes a dense population of more than 190,700 residents who bring in an affluent household income of $121,777. This encircling population features a highly educated and skilled workforce, as 57% of these residents obtain a bachelor’s degree or higher.
An owner-user or experienced investor could acquire this asset for immense purposes as it is optimally situated by a plethora of amenities and convenient travel options. This property serves as a supreme opportunity for any warehouse and showroom business seeking a well-built R&D building and exceptionally positioned industrial facility.
Property tours are available by appointment only. Please contact the broker to schedule.
Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Third Party Reports
- Title and Insurance
Market Analytics Click Here to Access
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Market Sale Price per SF
Detroit - MI USA
Market Cap Rate
Detroit - MI USA
Market Sale Price per SF by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Cap Rate by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Sale Price per SF Distribution
Market Cap Rate Distribution
Property Facts
| Sale Type | Investment | Rentable Building Area | 15,170 SF |
| Sale Conditions | Auction Sale | Number of Floors | 1 |
| Property Type | Light Industrial | Year Built/Renovated | 1979/2004 |
| Property Subtype | R&D | Tenancy | Single |
| Building Class | B | Parking Ratio | 2.59/1,000 SF |
| Lot Size | 0.74 AC | Level Access Doors | 1 |
| Sale Type | Investment |
| Sale Conditions | Auction Sale |
| Property Type | Light Industrial |
| Property Subtype | R&D |
| Building Class | B |
| Lot Size | 0.74 AC |
| Rentable Building Area | 15,170 SF |
| Number of Floors | 1 |
| Year Built/Renovated | 1979/2004 |
| Tenancy | Single |
| Parking Ratio | 2.59/1,000 SF |
| Level Access Doors | 1 |
DEMOGRAPHICS
Regional Accessibility
CITY
POPULATION
MILES
DRIVE TIME
Detroit
672,662
22
0 h 30 m
Columbus
892,533
196
4 h 5 m
Chicago
2,705,994
272
5 h 7 m
Indianapolis
867,125
280
5 h 23 m
Washington
702,455
531
10 h 3 m
Philadelphia
1,584,138
589
10 h 52 m
ACCESS AND LABOR FORCE
10 MILES
Total Population
700,422
Total Labor Force
355,288
Unemployment Rate
2.75%
Median Household Income
$86,170
Warehouse Employees
79,947
High School Education Or Higher
95.00%
$ values in USD
PROPERTY TAXES
| Parcel Number | 23-19-426-013 | Improvements Assessment | £328,676 |
| Land Assessment | £41,754 | Total Assessment | £370,429 |
PROPERTY TAXES
Parcel Number
23-19-426-013
Land Assessment
£41,754
Improvements Assessment
£328,676
Total Assessment
£370,429
zoning
| Zoning Code | LI (Light Industrial) |
| LI (Light Industrial) |
Sale Advisors
Sale Advisors
Mark Szerlag, CCIM, Senior Partner
(248) 476-3700
Contact
Mark excels in the sale of vacant land, as well as user and investment properties. He's successfully completed over $500 million in commercial real estate sales, an indication of how consistently he delivers the best service in his market. With his background in personal direct marketing, analysis, and research, Mark is able to provide clients with well-considered, systematic solutions to real estate problems. Besides being a CCIM, he is a member of the Detroit Area Board of Realtors, the National Association of Realtors, the Urban Land Institute, and the International Council of Shopping Centers.
Eric Szerlag, Vice President
(248) 476-3700 x1123
Contact
Since his graduation from Western Michigan University with a Bachelors Degree in Sales & Marketing, Eric has been working hard to become an expert in the Southwest Oakland and Livingston County real estate markets. He specializes in the sale and leasing of Commercial, Retail, and Office properties as well as Vacant Land for development. Eric is a member of the International Council of Shopping Centers (ICSC) and is currently pursuing his Certified Commercial Investment Member (CCIM designation).
About the Auction Platform
Ten-X Commercial is the leading end-to-end digital transaction platform for commercial property. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
Read More
Auction Contact
Amen Almukhtar
Contact
Auctioneer License:
Ten-X, LLC Arlene Richardson RE Brkr 6505431586
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Mark Szerlag -
Eric Szerlag -
Thomas Duke Company
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Transaction Fee Schedule
Based on Percentage of Winning Bid Amount.
Winning Bid Amount
Transaction Fee
$0m to < $1m
5.00% ($20,000 min)
$1m to < $3m
3.00%
$3m to < $5m
2.50%
$5m to < $10m
2.25%
$10m to < $15m
2.00%
$15m to < $25m
1.75%
$25m to < $35m
1.50%
$35M to < $45M
1.00%
$45M to < $55M
0.75%
$55M and Up
0.50%
Example Calculation
Winning Bid Amount
$4,000,000
Transaction Fee
$100,000 (2.5%)
Total Purchase Price
$4,100,000
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Industrial/Flex | Farmington Hills, MI | 24435 Halsted Rd
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Industrial/Flex | Farmington Hills, MI | 24435 Halsted Rd
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