Listed by CBRE
$8,500,000
Maksteel (Dark) Industrial Investment
Details
Property Type Industrial
Sub Type Manufacturing, Warehouse
Square Footage 290,894
Cap Rate 15.00%
Occupancy 100%
Tenancy Single
Lease Type Absolute NNN
Lease Term 10
Lease Expiration 02/28/2029
Remaining Term 2.7
Lease Options Two (2), five (5)-year renewal options with one hundred eighty (180) days notice to Landlord.
Price per SqFt $29
Year Built 1940, 1970, 1990, 2000
Acreage 19.120
Zoning I-C (Intensive Industrial)
Investment Type Value Add
Tenant Credit No Credit Rating
Rent Commencement 03/31/2019
Ground Lease No
Ceiling Height 38
Ownership Fee-Simple
High Cap Rate Industrial Invesment
Marketing description
The CBRE team of Dave Hesano and Geoff Meekhoff are pleased to present this exclusively listed value-add property to qualified investors. This single-tenant industrial asset has been utilized for heavy manufacturing and materials processing since the original portion was constructed in the 1940s. It has been expanded multiple times including additions in 1970, 1990, and 2000. The building was most recently occupied by Maksteel which has a lease through March 30, 2029. Maksteel ceased operations in this facility at the end of September, 2025 but is still obligated to fulfill all Tenant obligations, including rent and maintenance, as per the existing absolute-net lease.
The building has high ceilings, heavy-lift cranes, drive-in doors which allow truck access through the building, and an active rail spur. The office area is heated and air-conditioned whereas the shop area is not climate controlled. The existing heavy industrial facility can be re-used or redeveloped following the end of the Maksteel lease term or a negotiated early lease termination. The 19-acre parcel cannot be duplicated in this fully developed area.
The facility benefits from its immediate proximity to the Ford Rouge Complex. This sprawling industrial campus includes multiple automotive assembly facilities, steel stamping, engine building, as well as several on-site steel manufacturing companies. The area provides all access for transportation via freeway (I-75, I-94), rail and international waterways via the Rouge River.
Investment highlights
- This asset is being offered with an asking price of $8,500,000 (15.7% cap rate)
- The sale price equates to just $29.22/PSF
- 290,894SF heavy industrial building situated on 19.12 acres
- The tenant ceased operations at the end of September , 2025 but is still responsible to fulfill all obligations as per the lease through its expiration in March of 2029.
- Heavy industrial facility with ample power, multiple cranes, 90’ wide bays, and a dedicated rail spur.
- Expansive exterior doors which allow for full interior access for trucks and full drive-through ability
- I-C (Intensive Industrial) zoning is the least restrictive industrial zoning classification in Dearborn
- Strategically positioned in a heavy manufacturing and logistics district of Dearborn which benefits from established automotive manufacturing.
- The asset has immediate proximity to the Ford Rouge Complex
Listing Contacts
Listed by CBRE
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