Versatile Warehouse and Retail
For Sale
Contact for pricing
8330 HARPER AVE, Detroit, MI 48213
Updated warehouse and retail building with a large parking lot and flexible layout for a range of tenant uses.
Property Size4,060 SF
Price / SF$55.39
Days on Market899
Property Features for 8330 HARPER AVE
General Information
Standard status
Active
Size
4,060 SF
Property subtype
Mixed Use, Retail, Office, Industrial
Building Details
Year Built
1943
Listing Agency:
Johnson Premier Realty Co
Listed By:
Darren Johnson · License #MI
Source:
Crexi
Added: Feb 19, 2024
Changed: Jul 10
Last Checked: Aug 6 at 5:18AM
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 Johnson Premier Realty Co
Investment Insights
Based on property information with market context.
The property is a commercial building currently configured for warehouse and retail-style use, following a conversion from a prior grocery use. The updates noted include an updated roof and an updated HVAC system. The site includes a large parking lot on a full block, supporting customer and employee parking needs for many day-to-day operations.
The address is 8330 Harper Ave in Detroit, MI 48213. The offering is presented for sale, and showings require a 24-hour advance notice.
This building is best suited for tenants or buyers seeking a flexible facility that can support either warehousing operations or retail-oriented occupancy within the same structure. With the practical combination of an updated roof and HVAC system and an extensive parking area on a full-block site, it can fit a variety of logistics- and storefront-adjacent requirements, depending on the specific use and operating needs.
The address is 8330 Harper Ave in Detroit, MI 48213. The offering is presented for sale, and showings require a 24-hour advance notice.
This building is best suited for tenants or buyers seeking a flexible facility that can support either warehousing operations or retail-oriented occupancy within the same structure. With the practical combination of an updated roof and HVAC system and an extensive parking area on a full-block site, it can fit a variety of logistics- and storefront-adjacent requirements, depending on the specific use and operating needs.
Key Highlights
- Commercial building built in 1943 with an updated roof
- Updated HVAC system
- Large parking lot on a full block
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
$19,747
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
8.78%
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%
$394,940
$394.9K
Cap Rate 7%
$282,100
$282.1K
Cap Rate 9%
$219,411
$219.4K
Market Conditions
NOI Build-Up for 4,060 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
$29.7K $7.32/SF
− Vacancy
−$1.5K −$0.37/SF
EGI
$28.2K $6.95/SF
− OpEx
−$8.5K −$2.08/SF
NOI
$19.7K $4.86/SF
Area
Detroit, MI
Vacancy
5.08%
Lease Rate
$7.32 /SF/Yr
Expense Ratio
30.00%
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%
$394,940
Cap Rate 7%
$282,100
Cap Rate 9%
$219,411
Alternative Uses
Best Use
Retail
$714.4K
$625.1K – $833.5K
NOI $50,007 @ 7.0% cap · market cap 22.24%
Second Best
Flex RnD
$416.2K
$364.2K – $485.6K
NOI $29,135 @ 7.0% cap · market cap 12.95%
Theoretical Best
Office A
$895.7K
$783.7K – $1.04M
NOI $62,696 @ 7.0% cap · market cap 27.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
266
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 48213, MI
19,088
Population
11,365
Households
1.7
Avg Household Size
39
Median Age
7%
College-Educated
82%
High-School Grad
6.5 sq mi
ZIP Area
2,937
Density / Sq Mi
$33,755
Median Household Income
$24,765
Median Earnings
$837
Median Rent
$52,100
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.
Similar Off Market Nearby
- Ross Catering — 9622 Harper Ave, Detroit, MI 48213
Frequently Asked Questions
What type of property is this?
Flex space - Updated warehouse and retail building with a large parking lot and flexible layout for a range of tenant uses.
Where is this flex space located?
The property is located at 8330 HARPER AVE Detroit, MI.
What is the asking price?
The asking price for this property is $224,900.
What are key features of this property?
This property features: Commercial building built in 1943 with an updated roof; Updated HVAC system; Large parking lot on a full block
