Industrial-Style Space in Milwaukee
314 E BALTIMORE Street Detroit, MI 48202
For Sale
$695,900
Pending
Unique industrial space with colorful murals in a trendy area.
Property Size3,264 SF
Lot Size0.11 Acres
Days on Market911
Property Features for 314 E BALTIMORE Street
General Information
- Standard status
- Pending
- Size
- 3,264 SF
- Lot size
- 0.11 Acres
- Property subtype
- Commercial/Industrial
Building Details
- Year Built
- 1964
Listing Agency:
Max Broock, REALTORSÂ-Detroit
(313) 590-4256
Listed By:
Matt O'Laughlin · License #6501365647
(313) 590-4256
Source:
Exitrealty
Added: Jan 27, 2024
Changed: Jul 10
Last Checked: Jul 26 at 7:14AM
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 Max Broock, REALTORSÂ-Detroit
Investment Insights
Based on property information with market context.
Located in the Milwaukee Junction neighborhood, this industrial-style space offers great potential for transformation. The exterior features colorful murals by artists Adam Kiyoshi Fujita, Sydney G James, and Tony Whlgn. Built in 1964, the 3,264-square-foot building formerly housed the Baltimore Art Gallery. The interior walls are a bright white, providing a blank canvas suitable for various business or tenant needs. Ample electrical outlets and down lighting make the space suitable for a portrait, film, art, or video studio. Situated within 18 miles of the Detroit Metro Airport and four miles from Downtown Detroit, the property is easily accessible and includes a gated parking lot. The Milwaukee Junction neighborhood is a newly developed trendy community with art and new restaurants. The building is immediately available and ready to adapt to business needs.
Key Highlights
- Prime location in the trendy Milwaukee Junction neighborhood.
- Unique industrial‑style space with a blank canvas interior ready for customization.
- Eye‑catching, Instagrammable exterior featuring murals by renowned artists.
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $57.2k | $17.52 |
| − Vacancy | −$13.1k | −$4.01 |
| EGI | $44.1k | $13.51 |
| − OpEx | −$11.0k | −$3.38 |
| NOI | $33.1k | $10.13 |
3,264 SF · lease $17.52/SF/yr · vacancy 22.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$472.4K
$413.3K – $551.1K
NOI $33,067 @ 7.0% cap · market cap 4.75%
Second Best
Flex RnD
$334.6K
$292.8K – $390.4K
NOI $23,422 @ 7.0% cap · market cap 3.37%
Theoretical Best
Office A
$720.1K
$630.1K – $840.1K
NOI $50,404 @ 7.0% cap · market cap 7.24%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Flex space
Similar Off Market Nearby
- WSU Catering — 495 W Ferry Ave, Detroit, MI 48202
- Natural Pours — 2785 E Grand Blvd Unit #467, Detroit, MI 48211
- Jeff's Over The Top Catering — 3200 Grand Blvd, Detroit, MI 48202
- All things M llc.(Maddies snack bar) — 5950 John R St, Detroit, MI 48202, United States
- Phoenix2Egypt Catering — 2785 E Grand Blvd, Detroit, MI 48211
FAQs
What type of property is this?
Flex space - Unique industrial space with colorful murals in a trendy area.
Where is this flex space located?
The property is located at 314 E BALTIMORE Street Detroit, MI.
What is the asking price?
The asking price for this property is $695,900.
What are key features of this property?
This property features: Prime location in the trendy Milwaukee Junction neighborhood.; Unique industrial‑style space with a blank canvas interior ready for customization.; Eye‑catching, Instagrammable exterior featuring murals by renowned artists.
