Flex Industrial Property with Three
15921 Eight Mile W Detroit, MI 48235
15921 Eight Mile W, Detroit, MI, 48235
Contact for pricing
For Sale
Contact for pricing
Three-building flex/industrial property with multiple overhead doors, offices, lavatories, and fenced parking with sliding gates.
Property Size6,560 SF
Price / SF$100.46
Days on Market531
Property Features for 15921 Eight Mile W
General Information
- Standard status
- Active
- Size
- 6,560 SF
- Property subtype
- Industrial, Mixed Use, Office
Building Details
- Year Built
- 1955
Listing agency
ERA Reardon Realty
Listed by
Malikh Clark · License #MI
Source
Crexi
Added: Feb 5, 2025 Updated: Jul 20 at 8:01PM Checked: Jul 21 at 4:15AM
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 ERA Reardon Realty
Investment Insights
Based on property information with market context.
This for-sale flex/industrial property includes three separate buildings with office and support space. The first building features storage/parking area served by three overhead doors, along with a receptionist area, a lav, an owner’s office, and an owner’s office with a fireplace and ceiling fan. It also has a partial basement and additional interior space. The second floor offers four separate rooms and a full bath, while the second building provides four overhead doors to its main area.
The third building includes a large classroom, a lunchroom area, and a reception area, with three lavatories on the first floor. The second floor has five offices/meeting rooms and a lounge area, plus one lavatory. The property is fenced with parking and includes sliding gates. A double-sided billboard located on the property is included in the sale to lease, and the property is offered “as is.” The site is located on West 8 Mile Road between the Southfield Fwy. (M-39) and the John C. Lodge Fwy. (M-10).
The third building includes a large classroom, a lunchroom area, and a reception area, with three lavatories on the first floor. The second floor has five offices/meeting rooms and a lounge area, plus one lavatory. The property is fenced with parking and includes sliding gates. A double-sided billboard located on the property is included in the sale to lease, and the property is offered “as is.” The site is located on West 8 Mile Road between the Southfield Fwy. (M-39) and the John C. Lodge Fwy. (M-10).
Key Highlights
- Three‑building flex/industrial property with offices, lavatories, and fenced perimeter parking with sliding gates.
- First building features 3 overhead doors to storage/parking area and includes a reception area, lav, and owner’s office with fireplace and ceiling fan.
- Second building has 4 overhead doors to main area, plus a partial basement; second floor offers 4 separate rooms and a full bath.
Local Financial Insights For Flex RnD
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 | $98.4k | $15.00 |
| − Vacancy | −$6.4k | −$0.98 |
| EGI | $92.0k | $14.03 |
| − OpEx | −$32.2k | −$4.91 |
| NOI | $59.8k | $9.12 |
6,560 SF · lease $15.00/SF/yr · vacancy 6.50% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$854.3K
$747.5K – $996.7K
NOI $59,803 @ 7.0% cap · market cap 9.07%
Second Best
Warehouse
$557.2K
$487.6K – $650.1K
NOI $39,004 @ 7.0% cap · market cap 5.92%
Theoretical Best
Multifamily LT 5
$929.9K
$813.7K – $1.08M
NOI $65,092 @ 7.0% cap · market cap 9.88%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
Similar Off Market Nearby
- Oliver Specialty Catering — 20905 Greenfield Rd, Southfield, MI 48075
- SJAC Events — 22001 Northwestern Hwy, Southfield, MI 48075
- DACODEST CATERING — 21700 Greenfield Rd, Oak Park, MI 48237
FAQs
What type of property is this?
Flex space - Three-building flex/industrial property with multiple overhead doors, offices, lavatories, and fenced parking with sliding gates.
Where is this flex space located?
The property is located at 15921 Eight Mile W Detroit, MI.
What is the asking price?
The asking price for this property is $659,000.
What are key features of this property?
This property features: Three‑building flex/industrial property with offices, lavatories, and fenced perimeter parking with sliding gates.; First building features 3 overhead doors to storage/parking area and includes a reception area, lav, and owner’s office with fireplace and ceiling fan.; Second building has 4 overhead doors to main area, plus a partial basement; second floor offers 4 separate rooms and a full bath.
