Industrial Property with Paint
For Sale
Contact for pricing
12317 Woodbine Street, Redford, MI 48239
Industrial real estate for sale, including an on-site paint booth, well suited for automotive and light manufacturing operations.
Property Size4,920 SF
Price / SF$132.11
Days on Market136
Property Features for 12317 Woodbine Street
General Information
Standard status
Active
Size
4,920 SF
Property subtype
Industrial, Retail
Building Details
Year Built
1953
Listing Agency:
ReMax Leading Edge (office)
(313) 721-1217
Listed By:
Ali Abdallah · License #MI 6502342204
Source:
Crexi
Added: Mar 25
Changed: Jul 10
Last Checked: Aug 5 at 1:21PM
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 ReMax Leading Edge (office)
Investment Insights
Based on property information with market context.
This for-sale industrial property includes an on-site paint booth, creating a dedicated workflow for painting and finishing-related processes. The asset is positioned to support industrial, automotive, manufacturing, and other commercial operations that benefit from having paint capabilities on site.
The offering is for the real estate only, and is presented as an exceptional investment opportunity in an industrial area. The property is located at 12317 Woodbine Street, Redford, MI 48239.
For an owner-user, the paint booth can reduce the need to coordinate painting with off-site facilities. For investors and operators evaluating automotive or manufacturing tenants, this combination of industrial space with built-in paint functionality is a practical feature that may support a range of industrial and commercial uses, subject to applicable requirements and permitting.
The offering is for the real estate only, and is presented as an exceptional investment opportunity in an industrial area. The property is located at 12317 Woodbine Street, Redford, MI 48239.
For an owner-user, the paint booth can reduce the need to coordinate painting with off-site facilities. For investors and operators evaluating automotive or manufacturing tenants, this combination of industrial space with built-in paint functionality is a practical feature that may support a range of industrial and commercial uses, subject to applicable requirements and permitting.
Key Highlights
- Industrial property built in 1953
- On‑site paint booth included
- Sale includes real estate only
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
$23,929
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
3.68%
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%
$478,580
$478.6K
Cap Rate 7%
$341,843
$341.8K
Cap Rate 9%
$265,878
$265.9K
Market Conditions
NOI Build-Up for 4,920 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
$36.0K $7.32/SF
− Vacancy
−$1.8K −$0.37/SF
EGI
$34.2K $6.95/SF
− OpEx
−$10.3K −$2.08/SF
NOI
$23.9K $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%
$478,580
Cap Rate 7%
$341,843
Cap Rate 9%
$265,878
Alternative Uses
Best Use
Retail
$865.7K
$757.5K – $1.01M
NOI $60,599 @ 7.0% cap · market cap 9.32%
Second Best
Industrial
$341.8K
$299.1K – $398.8K
NOI $23,929 @ 7.0% cap · market cap 3.68%
Theoretical Best
Office A
$1.09M
$949.7K – $1.27M
NOI $75,976 @ 7.0% cap · market cap 11.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
277
Businesses Nearby
Explore this area
Business Placement
Demographics for 48239, MI
36,814
Population
14,869
Households
2.5
Avg Household Size
40
Median Age
23%
College-Educated
93%
High-School Grad
9.5 sq mi
ZIP Area
3,875
Density / Sq Mi
$69,373
Median Household Income
$41,113
Median Earnings
$1,355
Median Rent
$145,900
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Industrial real estate for sale, including an on-site paint booth, well suited for automotive and light manufacturing operations.
Where is this manufacturing property located?
The property is located at 12317 Woodbine Street Redford, MI.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Industrial property built in 1953; On‑site paint booth included; Sale includes real estate only
