Clear Span
For Sale
$2,000,000
12400 Evergreen Ave, Detroit, MI 48228
New construction clear span warehouse with high-capacity electrical infrastructure and M2 zoning near I-96 and the Southfield Fwy.
Property Size10,000 SF
Days on Market144
Property Features for 12400 Evergreen Ave
General Information
Standard status
Active
Size
10,000 SF
Total Parking Spaces
30
Property subtype
Industrial
Zoning
I, Detroit
Site & Location
Neighborhood
Weatherby
Highway Access
Yes
Warehouse & Industrial
Clear Height
20 ft
Clear Span
Yes
Heavy Power
Yes
Building Details
Building Size
10,000 SF
Year Built
2021
Construction
block
Listing Agency:
Friedman Real Estate
Listed By:
Andreanna Grillo · License #6506049093
(586) 216-4947
Source:
Friedmanrealestate
Added: Jun 2
Changed: Oct 7
Last Checked: Oct 23 at 5:27AM
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 Friedman Real Estate
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Investment Insights
Based on property information with market context.
New construction clear span warehouse delivered with standard finishes. The building provides 20' clear height and is constructed with 12 inch block. Built in 2021, it also includes a 3,500 SF ancillary building.
The property is close to I-96 and the Southfield Fwy and is zoned M2. For parking needs, there is a lease option for an additional 80 parking spaces. Electrical service is described as high-capacity, with upgrade potential up to 3,500 Amps.
The property is close to I-96 and the Southfield Fwy and is zoned M2. For parking needs, there is a lease option for an additional 80 parking spaces. Electrical service is described as high-capacity, with upgrade potential up to 3,500 Amps.
Key Highlights
- 20' clear height clear span warehouse
- 12 inch block construction
- Year built 2021
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$71,258
Cap Rate
3.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,425,160
$1.4M
Cap Rate 7%
$1,017,971
$1.0M
Cap Rate 9%
$791,756
$791.8K
Market Conditions
NOI Build-Up for 10,000 SF
Gross rent
$87.6K $8.76/SF
− Vacancy
−$3.8K −$0.38/SF
EGI
$83.8K $8.38/SF
− OpEx
−$12.6K −$1.26/SF
NOI
$71.3K $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 Rate 5%
$1,425,160
Cap Rate 7%
$1,017,971
Cap Rate 9%
$791,756
Alternative Uses
Best Use
Warehouse
$1.02M
$890.7K – $1.19M
NOI $71,258 @ 7.0% cap · market cap 3.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.05M
$1.80M – $2.40M
NOI $143,777 @ 7.0% cap · market cap 7.19%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
20 ft
Clear height
Yes
Heavy power
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
347
Businesses Nearby
Under-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Detroit, MI
Frequently Asked Questions
What type of property is this?
Warehouse - New construction clear span warehouse with high-capacity electrical infrastructure and M2 zoning near I-96 and the Southfield Fwy.
Where is this warehouse located?
The property is located at 12400 Evergreen Ave Detroit, MI.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: 20' clear height clear span warehouse; 12 inch block construction; Year built 2021
