Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    28705 Joy Rd Westland, MI 48185

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Industrial building with fenced yard and outside storage near Detroit.

    Property Features for 28705 Joy Rd

    General Information

    Standard status
    Active

    We can help!

    Listing Contact
    Leo Gonzalez
    Source: Crexi

    Listing Agency: CRS, Commercial Real Estate Services Listing Agent: Leo Gonzalez

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Contractor Building with Outside Storage

    This industrial building is suitable for contractors and features a fenced yard with ample outside storage. The property is well located within the Detroit metro area and offers room to expand the existing building. The property's outside storage is a rare feature.
    Location Intelligence

    Current Use by Public Records

    Industrial properties

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Westland
    County
    Wayne
    State
    Michigan
    Longitude
    -83.3243456
    Latitude
    42.354152

    Nearby Similar for Sale

    • $13,000,000
      11,800 SF

      Turnkey Truck Terminal and Repair

      Multi-income commercial trucking facility with repair shop, parts store, parking.
      1475 S Newburgh Rd, Westland, MI 48186
      View Details
    • $599,999
      1,610 SF

      Turnkey Eatery in Wayne County

      Profitable, established Beyond Juicery + Eatery franchise in Westland, MI.
      9999 Middlebelt Rd, Westland, MI 48185
      View Details
    • $540,000
      2,356 SF

      Canton Farmhouse with Large Pole Barn

      Farmhouse on 2.35 acres with a 32'x100' pole barn.
      49035 Geddes Rd, Canton, MI 48188
      View Details
    • New
      $300,000
      0.31 Acres

      Westland Multifamily Investment Opportunity

      Three-unit property with income potential in Westland, Michigan.
      2119 Emerson St, Westland, MI 48186
      View Details
    • New
      $199,900
      0.12 Acres

      Westland Multifamily Property with Income

      Two-unit property in Westland, Michigan, suitable for investors or owner-occupiers.
      34228 Dayton Ct, Westland, MI 48186
      View Details
    • New
      $264,900
      0.19 Acres

      Westland Multi-Family Investment Opportunity

      Four-unit property in Westland with income potential and vacant unit.
      2204 Ellsworth St, Westland, MI 48186
      View Details
    • New
      $189,900
      0.20 Acres

      Westland Multifamily Investment Opportunity

      Two-unit multifamily property in Westland, MI with tenant occupancy.
      33121 Alberta St, Westland, MI 48186
      View Details
    • New
      $199,900
      0.15 Acres

      Westland Duplex: Investment Opportunity

      Duplex in Westland, MI, ideal for owner-occupancy or investment.
      2340 Deerfield Ct, Westland, MI 48186
      View Details
    • New
      $189,900
      0.18 Acres

      Westland Multifamily Investment Opportunity

      Two-unit property in Westland, MI, tenant-occupied, near amenities.
      33012 Akron St, Westland, MI 48186
      View Details
    • $1,500,000
      5.72 Acres

      Canton Land with Approved Plans

      Land with approved plans for warehouse and truck parking.
      4891 S Sheldon Rd, Canton, MI 48188
      View Details
    • New
      $189,900
      0.19 Acres

      Westland Multifamily Income Opportunity

      Two-unit multifamily property in Westland, Michigan with income potential.
      31913 Roscommon St, Westland, MI 48186
      View Details
    • New
      $189,900
      0.22 Acres

      Westland Duplex with Rental Income

      Duplex in Westland, MI with two 2-bedroom units.
      31829 Bay Ct, Westland, MI 48186
      View Details

    FAQs

    What type of property is this?
    Industrial property - Industrial building with fenced yard and outside storage near Detroit.
    Where is this industrial property located?
    The property is located at 28705 Joy Rd Westland, MI.
    What are key features of this property?
    This property features: - Rare outside storage capability.; - Ample fenced yard for storage.; - Well-located for Detroit metro area access.
    Request Owner's contact information
    28705 Joy Rd Westland, MI 48185
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    28705 Joy Rd
    Westland, MI 48185
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    28705 Joy Rd Westland, MI 48185
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Leo Gonzalez
    Real Estate License ID: 6502126741
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!