Versatile Warehouse with Showroom
For Sale
$1,795,000
Pending
24101 W Warren St, Dearborn Heights, MI 48127
Warehouse with showroom, office, and flexible zoning in Dearborn Heights.
Property Size11,240 SF
Lot Size0.42 Acres
Days on Market197
Property Features for 24101 W Warren St
General Information
Standard status
Pending
Size
11,240 SF
Lot size
0.42 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$18,003
Building Details
Building Size
11,240 SF
Year Built
1990
Listing Agency:
Century 21 Commercial Curran & Oberski | Dearborn Heights
Listed By:
Dave W Abdallah
(313) 203-8209
Source:
Elliman
Added: Mar 24
Changed: Aug 23
Last Checked: Aug 14 at 6:04AM
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 Century 21 Commercial Curran & Oberski | Dearborn Heights
Investment Insights
Based on property information with market context.
This property, located in the Telegraph & Warren Ave area, features over 11,000 sqft of warehouse space and two additional buildings. The property includes a 3,000 sqft showroom with a receptionist area, office space, storage, and two bathrooms. The showroom opens to a second building addition, constructed in 1980, which features an 18 ft high ceiling, an overhead door, a new roof, a bathroom, and a separate building entrance. A third, two-story building addition, built in 1990, includes a large industrial laundry area and 18 ft high ceilings. The third building has first and second-floor overhead doors and could potentially be split into two separate units, subject to city approval. Buildings two and three have an open concept design connecting them. The zoning is flexible, offering many possible uses, subject to city regulations. The property also features a large parking lot and is located between Telegraph and Beech Daly. All data is approximate.
Key Highlights
- Over 11,000 sqft warehouse with 2 additional buildings.
- Flexible zoning with many possible uses (see city).
- 3,000 sqft showroom** with receptionist area, office space, storage & 2 bathrooms.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$104,227
Cap Rate
5.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,084,540
$2.1M
Cap Rate 7%
$1,488,957
$1.5M
Cap Rate 9%
$1,158,078
$1.2M
Market Conditions
NOI Build-Up for 11,000 SF
Gross rent
$158.4K $14.40/SF
− Vacancy
−$9.5K −$0.86/SF
EGI
$148.9K $13.54/SF
− OpEx
−$44.7K −$4.06/SF
NOI
$104.2K $9.48/SF
Area
Wayne County, MI
Vacancy
6.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,084,540
Cap Rate 7%
$1,488,957
Cap Rate 9%
$1,158,078
Alternative Uses
Best Use
Retail
$1.49M
$1.30M – $1.74M
NOI $104,227 @ 7.0% cap · market cap 5.81%
Second Best
Warehouse
$987.9K
$864.4K – $1.15M
NOI $69,151 @ 7.0% cap · market cap 3.85%
Theoretical Best
Specialty Retail
$2.04M
$1.78M – $2.38M
NOI $142,560 @ 7.0% cap · market cap 7.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
410
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48127, MI
41,222
Population
14,616
Households
2.8
Avg Household Size
35
Median Age
29%
College-Educated
90%
High-School Grad
7.7 sq mi
ZIP Area
5,354
Density / Sq Mi
$63,084
Median Household Income
$35,340
Median Earnings
$1,231
Median Rent
$217,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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Similar Off Market Nearby
- iStorage — 24579 Ann Arbor Trail, Dearborn Heights, MI 48127
Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse with showroom, office, and flexible zoning in Dearborn Heights.
Where is this warehouse located?
The property is located at 24101 W Warren St Dearborn Heights, MI.
What is the asking price?
The asking price for this property is $1,795,000.
What are key features of this property?
This property features: Over 11,000 sqft warehouse with 2 additional buildings.; Flexible zoning with many possible uses (see city).; 3,000 sqft showroom** with receptionist area, office space, storage & 2 bathrooms.
