Versatile Commercial Property with
For Sale
$229,900
8330 HARPER Avenue, Detroit, MI 48213
Adaptable commercial building suitable for warehousing or retail.
Property Size4,060 SF
Lot Size0.25 Acres
Price / SF$56.63
Days on Market960
Property Features for 8330 HARPER Avenue
General Information
Standard status
Active
Size
4,060 SF
Lot size
0.25 Acres
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$4,098
Building Details
Year Built
1943
Listing Agency:
Johnson Premier Realty Co
Listed By:
Darren Johnson · License #6501314852
(248) 737-9993
Source:
Exitrealty
Added: Feb 19, 2024
Changed: Aug 8
Last Checked: Aug 8 at 5:20AM
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 Johnson Premier Realty Co
Investment Insights
Based on property information with market context.
This commercial property features a large parking lot and occupies a full block. The building has an updated roof and HVAC system. Previously used as a grocery store, the property has been converted for use as warehousing or retail space. The building size is 4060 square feet.
Key Highlights
- Large parking lot on a full block
- Updated roof
- Updated HVAC system
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,747
Cap Rate
8.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$394,940
$394.9K
Cap Rate 7%
$282,100
$282.1K
Cap Rate 9%
$219,411
$219.4K
Market Conditions
NOI Build-Up for 4,060 SF
Gross rent
$29.7K $7.32/SF
− Vacancy
−$1.5K −$0.37/SF
EGI
$28.2K $6.95/SF
− OpEx
−$8.5K −$2.08/SF
NOI
$19.7K $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 Rate 5%
$394,940
Cap Rate 7%
$282,100
Cap Rate 9%
$219,411
Alternative Uses
Best Use
Retail
$714.4K
$625.1K – $833.5K
NOI $50,007 @ 7.0% cap · market cap 21.75%
Second Best
Warehouse
$413.3K
$361.6K – $482.2K
NOI $28,931 @ 7.0% cap · market cap 12.58%
Theoretical Best
Office A
$895.7K
$783.7K – $1.04M
NOI $62,696 @ 7.0% cap · market cap 27.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
198
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48213, MI
19,088
Population
11,365
Households
1.7
Avg Household Size
39
Median Age
7%
College-Educated
82%
High-School Grad
6.5 sq mi
ZIP Area
2,937
Density / Sq Mi
$33,755
Median Household Income
$24,765
Median Earnings
$837
Median Rent
$52,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Detroit, MI
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Frequently Asked Questions
What type of property is this?
Warehouse - Adaptable commercial building suitable for warehousing or retail.
Where is this warehouse located?
The property is located at 8330 HARPER Avenue Detroit, MI.
What is the asking price?
The asking price for this property is $229,900.
What are key features of this property?
This property features: Large parking lot on a full block; Updated roof; Updated HVAC system
