Tireman Detroit Trucking Business
For Sale
$2,999,000
15800 TIREMAN Street, Detroit, MI 48228
7.96 acres with active trucking business and warehouses.
Property Size30,000 SF
Lot Size5.50 Acres
Price / SF$99.97
Days on Market916
Property Features for 15800 TIREMAN Street
General Information
Standard status
Active
Size
30,000 SF
Lot size
5.50 Acres
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$30,350
Building Details
Year Built
1957
Listing Agency:
Empire Realty Group
(313) 846-0960
Listed By:
Elfatih Ahmed · License #6501361647
(313) 846-0960
Source:
Exitrealty
Added: Feb 7, 2024
Changed: Aug 8
Last Checked: Aug 11 at 7:30AM
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 Empire Realty Group
Investment Insights
Based on property information with market context.
This property, located on Tireman Street in Detroit, Michigan, encompasses 7.96 acres and currently houses an active, operating trucking business with repair shops and warehouses. Some of the warehouses are rented, generating a monthly income of $22,000. The property is intended for commercial real estate use. The total property size is approximately 30000 square feet. All measurements are approximate.
Key Highlights
- 7.96 acres of land in Detroit
- Active operating trucking business and repair shops included
- Existing warehouses on the property
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
$213,775
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
7.13%
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%
$4,275,500
$4.3M
Cap Rate 7%
$3,053,929
$3.1M
Cap Rate 9%
$2,375,278
$2.4M
Market Conditions
NOI Build-Up for 30,000 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
$262.8K $8.76/SF
− Vacancy
−$11.3K −$0.38/SF
EGI
$251.5K $8.38/SF
− OpEx
−$37.7K −$1.26/SF
NOI
$213.8K $7.13/SF
Area
ZIP 48228
Vacancy
4.30%
Lease Rate
$8.76 /SF/Yr
Expense Ratio
15.00%
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%
$4,275,500
Cap Rate 7%
$3,053,929
Cap Rate 9%
$2,375,278
Alternative Uses
Best Use
Warehouse
$3.05M
$2.67M – $3.56M
NOI $213,775 @ 7.0% cap · market cap 7.13%
Second Best
Industrial
$2.51M
$2.20M – $2.93M
NOI $176,050 @ 7.0% cap · market cap 5.87%
Theoretical Best
Office A
$6.16M
$5.39M – $7.19M
NOI $431,332 @ 7.0% cap · market cap 14.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
695
Businesses Nearby
Explore this area
Business Placement
Demographics for 48228, MI
53,893
Population
22,620
Households
2.4
Avg Household Size
31
Median Age
11%
College-Educated
78%
High-School Grad
8.9 sq mi
ZIP Area
6,055
Density / Sq Mi
$31,485
Median Household Income
$27,533
Median Earnings
$1,086
Median Rent
$55,100
Median Home Value
Market
Vacancy Rate% for Industrial in Detroit, MI
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Industrial property - 7.96 acres with active trucking business and warehouses.
Where is this industrial property located?
The property is located at 15800 TIREMAN Street Detroit, MI.
What is the asking price?
The asking price for this property is $2,999,000.
What are key features of this property?
This property features: 7.96 acres of land in Detroit; Active operating trucking business and repair shops included; Existing warehouses on the property
