Live-Work Property on Industrial
New
For Sale
$375,000
12000 Inkster Rd, Romulus, MI 48174
M1 zoning and a substantial acreage parcel accompany an updated building with space for living and work.
Property Size1,789 SF
Lot Size4.30 Acres
Price / SF$208.33
Days on Market6
Property Features for 12000 Inkster Rd
General Information
Standard status
Active
Size
1,789 SF
Lot size
4.30 Acres
Property subtype
Commercial
Zoning
M1 Light Industrial
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$4,797
Building Details
Building Size
1,789 SF
Year Built
1957
Listing Agency:
My Realty LLC
Listed By:
Joseph Manuel · License #6501302689
(248) 207-6307
Source:
Elliman
Added: Oct 1
Last Checked: Oct 5 at 6:55PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of My Realty LLC
Investment Insights
Based on property information with market context.
This live-work property includes an 1,800-square-foot office on 4.30 acres. Built in 1957, the building has been renovated with new flooring, updated finishes, and a refreshed mechanical system. Improvements also include a refrigerator, dishwasher, boiler, and hot water tank. The layout offers both residential and work space potential, and the property is zoned M1 Light Industrial.
The site is minutes from Detroit Metro Airport and provides access to I-94 and I-275.
The site is minutes from Detroit Metro Airport and provides access to I-94 and I-275.
Key Highlights
- 4.30 acres zoned M1 Light Industrial
- 1,800‑square‑foot office building
- Renovated with new flooring, updated finishes, and mechanical system
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,384
Cap Rate
5.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$427,680
$427.7K
Cap Rate 7%
$305,486
$305.5K
Cap Rate 9%
$237,600
$237.6K
Market Conditions
NOI Build-Up for 1,800 SF
Gross rent
$38.9K $21.60/SF
− Vacancy
−$4.7K −$2.59/SF
EGI
$34.2K $19.01/SF
− OpEx
−$12.8K −$7.13/SF
NOI
$21.4K $11.88/SF
Area
Wayne County, MI
Vacancy
12.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$427,680
Cap Rate 7%
$305,486
Cap Rate 9%
$237,600
Alternative Uses
Best Use
Mixed Use
$305.5K
$267.3K – $356.4K
NOI $21,384 @ 7.0% cap · market cap 5.70%
Second Best
Office B
$88.5K
$77.5K – $103.3K
NOI $6,197 @ 7.0% cap · market cap 1.65%
Theoretical Best
Specialty Retail
$333.3K
$291.6K – $388.8K
NOI $23,328 @ 7.0% cap · market cap 6.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
143
Businesses Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Live-work space - M1 zoning and a substantial acreage parcel accompany an updated building with space for living and work.
Where is this live-work space located?
The property is located at 12000 Inkster Rd Romulus, MI.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 4.30 acres zoned M1 Light Industrial; 1,800‑square‑foot office building; Renovated with new flooring, updated finishes, and mechanical system
