Flexible Warehouse and
For Sale
Contact for pricing
12210 N Grand River Avenue, Detroit, MI 48204
Updated flex warehouse with office space, kitchen area, and two restrooms, suited for a range of light business uses.
Property Size5,127 SF
Price / SF$53.44
Days on Market176
Property Features for 12210 N Grand River Avenue
General Information
Standard status
Active
Size
5,127 SF
Property subtype
Mixed Use
Building Details
Year Built
1950
Listing Agency:
Keller Williams Legacy
(313) 995-2600
Listed By:
Amer Jaafar · License #MI 449495
Source:
Crexi
Added: Feb 11
Changed: Jul 10
Last Checked: Aug 6 at 6:24AM
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 Keller Williams Legacy
Investment Insights
Based on property information with market context.
This spacious flex building is currently used as a friendly social club and has seen many updates. The interior layout includes office space along with a kitchen area, and it is served by two restrooms. With its combination of office and warehouse-style space, the property can be adapted for multiple operating concepts, including office use and light industrial storage or workspace needs.
The property is described as having a great location with easy access, supporting convenient day-to-day operations. While the specific surrounding tenants and traffic details are not provided, the building is offered as a flexible option for buyers looking for a move-in ready setup with practical amenities already in place.
From an operator standpoint, the existing configuration can support businesses that need both work areas and flexible back-of-house space. The seller notes that HVAC and plumbing would also fit well for uses that may include an eatery component, though exact permitted uses are not stated in the provided information. Overall, this is a versatile property for buyers seeking an updated warehouse-and-office combination that can accommodate a variety of business functions.
The property is described as having a great location with easy access, supporting convenient day-to-day operations. While the specific surrounding tenants and traffic details are not provided, the building is offered as a flexible option for buyers looking for a move-in ready setup with practical amenities already in place.
From an operator standpoint, the existing configuration can support businesses that need both work areas and flexible back-of-house space. The seller notes that HVAC and plumbing would also fit well for uses that may include an eatery component, though exact permitted uses are not stated in the provided information. Overall, this is a versatile property for buyers seeking an updated warehouse-and-office combination that can accommodate a variety of business functions.
Key Highlights
- Spacious 4,300 SF flex building built in 1950, currently used as a social club
- Updated interior with office space plus warehouse/warehouse space for light business uses
- Includes a kitchen area and two restrooms
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
$24,936
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
9.10%
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%
$498,720
$498.7K
Cap Rate 7%
$356,229
$356.2K
Cap Rate 9%
$277,067
$277.1K
Market Conditions
NOI Build-Up for 5,127 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
$37.5K $7.32/SF
− Vacancy
−$1.9K −$0.37/SF
EGI
$35.6K $6.95/SF
− OpEx
−$10.7K −$2.08/SF
NOI
$24.9K $4.86/SF
Area
Detroit, MI
Vacancy
5.08%
Lease Rate
$7.32 /SF/Yr
Expense Ratio
30.00%
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%
$498,720
Cap Rate 7%
$356,229
Cap Rate 9%
$277,067
Alternative Uses
Best Use
Office B
$742.0K
$649.3K – $865.7K
NOI $51,941 @ 7.0% cap · market cap 18.96%
Second Best
Flex RnD
$525.6K
$459.9K – $613.2K
NOI $36,791 @ 7.0% cap · market cap 13.43%
Theoretical Best
Office A
$1.13M
$989.7K – $1.32M
NOI $79,173 @ 7.0% cap · market cap 28.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
275
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48204, MI
21,738
Population
13,691
Households
1.6
Avg Household Size
37
Median Age
10%
College-Educated
83%
High-School Grad
5.0 sq mi
ZIP Area
4,348
Density / Sq Mi
$32,875
Median Household Income
$26,701
Median Earnings
$970
Median Rent
$53,600
Median Home Value
Market
Vacancy Rate% for Office in Detroit, MI
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Frequently Asked Questions
What type of property is this?
Flex space - Updated flex warehouse with office space, kitchen area, and two restrooms, suited for a range of light business uses.
Where is this flex space located?
The property is located at 12210 N Grand River Avenue Detroit, MI.
What is the asking price?
The asking price for this property is $274,000.
What are key features of this property?
This property features: Spacious 4,300 SF flex building built in 1950, currently used as a social club; Updated interior with office space plus warehouse/warehouse space for light business uses; Includes a kitchen area and two restrooms
