Flexible Retail Showroom
For Sale
$695,000
21616 Grand River Ave, Detroit, MI 48219
Large showroom and workshop space with skylights and two overhead drive-in doors for convenient loading and flexible operations.
Property Size9,400 SF
Price / SF$73.94
Days on Market77
Property Features for 21616 Grand River Ave
General Information
Standard status
Active
Size
9,400 SF
Property subtype
Commercial
Additional Details
Drive-In Doors
2
Building Details
Year Built
1946
Listing Agency:
RE/MAX Team 2000
(313) 912-5566
Listed By:
Michael Beydoun · License #6501354088
(313) 912-5566
Source:
Elliman
Added: May 15
Changed: Jul 20
Last Checked: Jul 29 at 1:58PM
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 RE/MAX Team 2000
Investment Insights
Based on property information with market context.
This architecturally distinctive commercial facility offers a large, highly functional interior built around an expansive open showroom/retail area with impressive ceiling clearance. The layout also includes workshop space with abundant storage capacity, multiple restrooms, executive office space, and a flexible multipurpose area, with natural light provided through skylights and windows. The building’s current configuration includes two overhead drive-in doors that support convenient loading access and operational flexibility.
The property is positioned on heavily traveled Grand River Avenue with exceptional visibility, directly across from Meijer, within an established retail corridor. Public comments also note strong traffic counts and a surrounding mix of national retailers.
With extensive renovation activity in recent years and versatile rooming, the building is currently operated as a furniture and décor showroom featuring art and specialty pieces, and it may support other adaptive uses that fit the existing showroom, office, and workshop configuration.
The property is positioned on heavily traveled Grand River Avenue with exceptional visibility, directly across from Meijer, within an established retail corridor. Public comments also note strong traffic counts and a surrounding mix of national retailers.
With extensive renovation activity in recent years and versatile rooming, the building is currently operated as a furniture and décor showroom featuring art and specialty pieces, and it may support other adaptive uses that fit the existing showroom, office, and workshop configuration.
Key Highlights
- Year built 1946 commercial building with 9,400+ SF and a flexible layout for a wide range of uses
- Expansive showroom/retail area plus workshop space with abundant storage capacity
- Two (2) overhead drive‑in doors provide convenient loading access and operational flexibility
Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $82.3k | $8.76 |
| − Vacancy | −$3.5k | −$0.38 |
| EGI | $78.8k | $8.38 |
| − OpEx | −$23.6k | −$2.51 |
| NOI | $55.2k | $5.87 |
9,400 SF · lease $8.76/SF/yr · vacancy 4.30% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.65M
$1.45M – $1.93M
NOI $115,779 @ 7.0% cap · market cap 16.66%
Second Best
Flex RnD
$1.25M
$1.10M – $1.46M
NOI $87,691 @ 7.0% cap · market cap 12.62%
Theoretical Best
Office A
$1.93M
$1.69M – $2.25M
NOI $135,151 @ 7.0% cap · market cap 19.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Drive-in doors
Location Intelligence
Trade Area within ½ mile
428
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48219, MI
46,811
Population
20,815
Households
2.2
Avg Household Size
37
Median Age
13%
College-Educated
87%
High-School Grad
8.4 sq mi
ZIP Area
5,573
Density / Sq Mi
$43,882
Median Household Income
$31,187
Median Earnings
$1,037
Median Rent
$84,500
Median Home Value
Market
Vacancy Rate% for Industrial in Detroit, MI
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Showroom - Large showroom and workshop space with skylights and two overhead drive-in doors for convenient loading and flexible operations.
Where is this showroom located?
The property is located at 21616 Grand River Ave Detroit, MI.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Year built 1946 commercial building with 9,400+ SF and a flexible layout for a wide range of uses; Expansive showroom/retail area plus workshop space with abundant storage capacity; Two (2) overhead drive‑in doors provide convenient loading access and operational flexibility
