Remodeled Flex
For Sale
$134,900
Pending
6921 Middlebelt Road, Romulus, MI 48174
COMMERCIAL - Romulus, MI
Property Size800 SF
Lot Size0.34 Acres
Days on Market439
Property Features for 6921 Middlebelt Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
M1 Industrial
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Interior features
Broadband
Elementary school district
Romulus
Middle school district
Romulus
High school district
Romulus
Directions
North of I-94 on the East side of the street
Subdivision
Wayne County - 100
Standard status
Pending
APN
80003990038000
Size
800 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
01BB25A 01AA2A THAT PART OF THE SW 1/4 OF THE SW 1/4 OF SE C 1 DESCRIBED AS BEGINNING A T A POINT ON THE
Tax Annual Amount
1873
Legal Description
01BB25A 01AA2A THAT PART OF THE SW 1/4 OF THE SW 1/4 OF SE C 1 DESCRIBED AS BEGINNING A T A POINT ON THE
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1970
Floors in Building
1
Number of units
1
Building materials
Vinyl Siding
Listing Agency:
National Realty Centers
(248) 724-1234
Listed By:
Wayne Michalak
(313) 999-6728
Added: Jun 9, 2025
Changed: Aug 18
Last Checked: Aug 21 at 3:06AM
MLS# 25027267
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 800-square-foot flex space was remodeled inside and out, with a new roof and a new full-perimeter French drain connected to a sump pump. The layout includes one large office, one private office, a kitchen, storage, and a bathroom. Forced-air heating, central air, vinyl siding, and cable availability are also in place.
The property occupies 0.34 acres in Romulus and carries M1 / light industrial zoning. More than 21,000 cars pass the site each day, while I-94 and Detroit Metro Airport are less than 1 mile away. A newly built Sheetz is located down the road. The site also offers room for future expansion, including the potential for a pole barn or garage as noted in the property information.
The property occupies 0.34 acres in Romulus and carries M1 / light industrial zoning. More than 21,000 cars pass the site each day, while I-94 and Detroit Metro Airport are less than 1 mile away. A newly built Sheetz is located down the road. The site also offers room for future expansion, including the potential for a pole barn or garage as noted in the property information.
Key Highlights
- 800 square feet of remodeled commercial space
- 0.34‑acre site with M1 / light industrial zoning
- Office, private office, kitchen, storage area, and bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$5,048
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.74%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$100,960
$101.0K
Cap Rate 7%
$72,114
$72.1K
Cap Rate 9%
$56,089
$56.1K
Market Conditions
NOI Build-Up for 800 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$8.1K $10.08/SF
− Vacancy
−$298 −$0.37/SF
EGI
$7.8K $9.71/SF
− OpEx
−$2.7K −$3.40/SF
NOI
$5.0K $6.31/SF
Area
Wayne County, MI
Vacancy
3.70%
Lease Rate
$10.08 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$100,960
Cap Rate 7%
$72,114
Cap Rate 9%
$56,089
Alternative Uses
Best Use
Flex RnD
$72.1K
$63.1K – $84.1K
NOI $5,048 @ 7.0% cap · market cap 3.74%
Second Best
Industrial
$59.2K
$51.8K – $69.0K
NOI $4,142 @ 7.0% cap · market cap 3.07%
Theoretical Best
Specialty Retail
$148.1K
$129.6K – $172.8K
NOI $10,368 @ 7.0% cap · market cap 7.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
194
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48174, MI
33,683
Population
13,124
Households
2.6
Avg Household Size
38
Median Age
17%
College-Educated
89%
High-School Grad
40.8 sq mi
ZIP Area
826
Density / Sq Mi
$65,675
Median Household Income
$41,186
Median Earnings
$1,053
Median Rent
$151,500
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - M1-zoned commercial space with offices, a kitchen, storage, and expansion room.
Where is this flex space located?
The property is located at 6921 Middlebelt Road Romulus, MI.
What is the asking price?
The asking price for this property is $134,900.
What are key features of this property?
This property features: 800 square feet of remodeled commercial space; 0.34‑acre site with M1 / light industrial zoning; Office, private office, kitchen, storage area, and bathroom
