431 Stephenson Hwy — Lease in Troy, MI

  • Price: $2.3M
  • Listing type: For lease
  • Asset type: Industrial Property
  • Location: Troy, MI 48083

Description

22,752 Square Feet Available

Market Context

This industrial in Troy, MI is listed for lease at $2,300,000. It has been on the market for 196 days. Compare it against other industrial listings for lease in Troy, MI — view the full market.

As of Q1 2026, the Detroit industrial market showed average asking rents near $5.79/SF/yr, rents up 4.6% year over year, and cap rates around 6.5%. Source: multiple brokerage reports, Q1 2026.

Rising rents point to a competitive market where well-priced, well-located space leases quickly.

Industrial market FAQ

What is the typical cap rate for industrial in Detroit?
About 6.5% as of Q1 2026, per multiple brokerage reports.

Estimated Market Rate

$0.48/SF/mo – $0.64/SF/mo

Mid: $0.56/SF/mo

Rate estimator only; cost-of-business estimate unavailable.

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