New Building in Airport
For Sale
Contact for pricing
29721 Michigan Ave, Inkster, MI 48141
Versatile 4,900 SF space suitable for various business uses.
Property Size4,900 SF
Lot Size0.92 Acres
Price / SF$224.49
Days on Market478
Property Features for 29721 Michigan Ave
General Information
Standard status
Active
Size
4,900 SF
Class
A
Lot size
0.92 Acres
Property subtype
Industrial, Office, Retail
Zoning
Commercial
Lease Type
NNN
Investment Type
Value Add
Building Details
Year Built
2024
Year Renovated
2024
Units
3
Listing Agency:
Transwestern Detroit
(248) 440-1447
Listed By:
Charles Howard · License #MI 6506044836
Source:
Crexi
Added: Apr 21, 2025
Changed: Aug 11
Last Checked: Aug 10 at 12:05PM
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 Transwestern Detroit
Investment Insights
Based on property information with market context.
Located in the Airport District, the property at 29721 Michigan Ave in Inkster, MI, offers a 4,900 SF space suitable for a variety of business uses. Situated in a high-traffic area with a daily traffic count of 27,300 cars, this property is positioned on a retail and office corridor. The building features three potential suites, currently configured as two. One of the suites is designed as a showroom. The smaller suites are first-generation spaces, allowing for customization. The property has a shared egress with The Flight Club, providing visibility and accessibility. Zoned as C-2 Commercial on a 0.92 AC lot.
Key Highlights
- Brand new building built in 2024, available at just over $100/SF.
- Located in a high‑traffic area with 27,300 cars passing daily.
- Versatile 4,900 SF space suitable for various business uses.
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
$58,212
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
5.29%
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%
$1,164,240
$1.2M
Cap Rate 7%
$831,600
$831.6K
Cap Rate 9%
$646,800
$646.8K
Market Conditions
NOI Build-Up for 4,900 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
$105.8K $21.60/SF
− Vacancy
−$12.7K −$2.59/SF
EGI
$93.1K $19.01/SF
− OpEx
−$34.9K −$7.13/SF
NOI
$58.2K $11.88/SF
Area
Wayne County, MI
Vacancy
12.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$1,164,240
Cap Rate 7%
$831,600
Cap Rate 9%
$646,800
Alternative Uses
Best Use
Mixed Use
$831.6K
$727.7K – $970.2K
NOI $58,212 @ 7.0% cap · market cap 5.29%
Second Best
Retail
$663.3K
$580.4K – $773.8K
NOI $46,428 @ 7.0% cap · market cap 4.22%
Theoretical Best
Specialty Retail
$907.2K
$793.8K – $1.06M
NOI $63,504 @ 7.0% cap · market cap 5.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
299
Businesses Nearby
Explore this area
Business Placement
Demographics for 48141, MI
26,088
Population
11,497
Households
2.3
Avg Household Size
34
Median Age
12%
College-Educated
83%
High-School Grad
6.3 sq mi
ZIP Area
4,141
Density / Sq Mi
$39,632
Median Household Income
$32,135
Median Earnings
$1,127
Median Rent
$75,700
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Versatile 4,900 SF space suitable for various business uses.
Where is this mixed-use property located?
The property is located at 29721 Michigan Ave Inkster, MI.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Brand new building built in 2024, available at just over $100/SF.; Located in a high‑traffic area with 27,300 cars passing daily.; Versatile 4,900 SF space suitable for various business uses.
