Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1521 E 8 Mile Rd Hazel Park, MI 48220

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $5,000 /Mo

    Light industrial building for lease with renovated office space.

    Lot size:
    0.16 Acres

    Property Features for 1521 E 8 Mile Rd

    General Information

    Property type
    Commercial
    Standard status
    Active
    Lot size
    0.16 Acres

    Building Details

    Year built
    1960

    We can help!

    Listing Contact
    Daniel M Salmo
    Source: Elliman

    Listing Agency: COMMUNITY CHOICE REALTY INC. Listing Agent: Daniel M Salmo

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Ferndale Warehouse with Renovated Office

    This light industrial building for lease is located east of Woodward in Ferndale. Zoned Commercial 201 - BUSINESS, IMPROVED, the warehouse is suited for various uses including warehouse, storage, distribution, automotive, retail, landscaping, medical, and supplies. The building is in great condition and features a fully renovated office that is heated and cooled. The warehouse is heated and has ceilings around 20 ft. high, an 18 ft. garage door height, a heavy-duty crane, 400 amp 3-phase power, and ample parking. A wide road behind the building accommodates semi-trucks. The property offers visibility off 8 Mile and is located minutes from I-75 and 696 freeway, making it a suitable location for logistics.
    Location Intelligence

    Current Use by Public Records

    Warehouses

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hazel Park
    County
    Oakland
    State
    Michigan
    Longitude
    -83.086888
    Latitude
    42.447666

    Nearby Similar for Lease

    • $18 SF/Yr

      Hazel Park Retail/Office Space

      Versatile retail or office space with high visibility and parking.
      22102 John R Rd, Hazel Park, MI 48030
      View Details
    • $8 SF/Yr

      Warehouse or Manufacturing Building Access

      Accessible warehouse or manufacturing building near I-696 & I-75.
      1400 E Ten Mile Rd, Hazel Park, MI 48030
      View Details
    • Contact for pricing

      Hazel Park Office Space Available

      Office space available for rent in Hazel Park, Michigan.
      877 E 8 Mile Rd, Hazel Park, MI 48030
      View Details
    • $7 SF/Yr
      13,600 SF

      Hazel Park Warehouse Space Available

      13,600 sq ft warehouse space for lease.
      1796 East 9 Mile Rd, Hazel Park, MI 48030
      View Details
    • $27 SF/Yr
      1,534 SF

      Hazel Park Retail Space For Lease

      1,534 SF Free-Standing Retail, Culinary District
      23725 John R Rd, Hazel Park, MI 48030
      View Details
    • Contact for pricing

      Hazel Park Commercial Property

      Commercial property available for rent in Hazel Park, Michigan.
      22411 S Chrysler Dr, Hazel Park, MI 48030
      View Details
    • Contact for pricing
      42,402 SF

      Gateway Crossings Retail Center

      Hazel Park, MI: Prime Retail Space Available
      1727-1839 8 Mile Rd, Hazel Park, MI 48030
      View Details
    • Contact for pricing
      2,600 SF

      Hazel Park Retail Plaza

      High-traffic retail space available
      1142-1182 9 Mile Rd, Hazel Park, MI 48030
      View Details

    FAQs

    What type of property is this?
    Warehouse - Light industrial building for lease with renovated office space.
    Where is this warehouse located?
    The property is located at 1521 E 8 Mile Rd Hazel Park, MI.
    What is the lease rate?
    The lease rate is $5,000 /Mo.
    What are key features of this property?
    This property features: - Prime Location: Highly visible location directly on 8 Mile in Ferndale, with quick access to I-75 and 696 freeways, ideal for logistics.; - Flexible Zoning: Zoned Commercial 201, allowing for a wide range of uses including warehouse, storage, retail, automotive, and more.; - Functional Warehouse Features: Includes 20 ft ceilings, 18 ft garage door height, heavy-duty crane, and 400 amp 3-phase power.
    (586) 480-5555
    Request Owner's contact information
    1521 E 8 Mile Rd Hazel Park, MI 48220
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1521 E 8 Mile Rd
    Hazel Park, MI 48220
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1521 E 8 Mile Rd Hazel Park, MI 48220
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Daniel M Salmo
    Real Estate License ID: 6501394350
    (586) 480-5555 (248) 729-0011
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!