Flex Building with Warehouse
For Sale
$590,000
Pending
12821 Capital St, Oak Park, MI 48237
Vacant office and warehouse property with flexible commercial space, included equipment, and access to I-75 and I-696.
Property Size3,800 SF
Days on Market97
Property Features for 12821 Capital St
General Information
Standard status
Pending
Size
3,800 SF
Property subtype
Commercial
Building Details
Year Built
1955
Listing Agency:
Realcom Realty,Inc
Listed By:
Marie Bashi
(586) 909-4111
Source:
Vmrealestatemichigan
Added: Jul 27
Changed: Oct 31
Last Checked: Oct 30 at 2:54PM
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 Realcom Realty,Inc
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Investment Insights
Based on property information with market context.
This vacant flex property combines office and warehouse areas within a commercial building constructed in 1955 and renovated periodically. The sale includes a 0.43-acre site along with an adjacent 0.21-acre parcel, providing additional land associated with the property. Building systems include 2 AC units, 2 furnaces, and a Generac generator.
Included personal property and equipment comprise two semi-trailers containing electrical supplies, a van, bucket truck, Bobcat high-low, tools, and a communication/security tower. The property also provides access to I-75 and I-696, connecting it with Metro Detroit and surrounding communities. The space is currently vacant and offers a combination of office, warehouse, land, and equipment components.
Included personal property and equipment comprise two semi-trailers containing electrical supplies, a van, bucket truck, Bobcat high-low, tools, and a communication/security tower. The property also provides access to I-75 and I-696, connecting it with Metro Detroit and surrounding communities. The space is currently vacant and offers a combination of office, warehouse, land, and equipment components.
Key Highlights
- Vacant flex property with office and warehouse areas
- 0.43‑acre site plus adjacent 0.21‑acre parcel included
- Constructed in 1955 with periodic renovations
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,303
Cap Rate
6.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$786,060
$786.1K
Cap Rate 7%
$561,471
$561.5K
Cap Rate 9%
$436,700
$436.7K
Market Conditions
NOI Build-Up for 3,800 SF
Gross rent
$68.4K $18.00/SF
− Vacancy
−$7.9K −$2.09/SF
EGI
$60.5K $15.91/SF
− OpEx
−$21.2K −$5.57/SF
NOI
$39.3K $10.34/SF
Area
Oakland County, MI
Vacancy
11.60%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$786,060
Cap Rate 7%
$561,471
Cap Rate 9%
$436,700
Alternative Uses
Best Use
Flex RnD
$561.5K
$491.3K – $655.1K
NOI $39,303 @ 7.0% cap · market cap 6.66%
Second Best
Warehouse
$326.6K
$285.8K – $381.0K
NOI $22,862 @ 7.0% cap · market cap 3.87%
Theoretical Best
Specialty Retail
$819.6K
$717.2K – $956.2K
NOI $57,374 @ 7.0% cap · market cap 9.72%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
830
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 48237, MI
29,560
Population
13,036
Households
2.3
Avg Household Size
38
Median Age
39%
College-Educated
93%
High-School Grad
5.1 sq mi
ZIP Area
5,796
Density / Sq Mi
$65,882
Median Household Income
$44,992
Median Earnings
$1,354
Median Rent
$198,500
Median Home Value
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Market
Vacancy Rate% for Industrial in Midwest region
Similar Off Market Nearby
- Fantastic Fruits LLC — 20449 Schaefer Hwy, Detroit, MI 48221
- Corporate Express Catering — 13305 Capital St Suite 600, Oak Park, MI 48237
- Touch of Class Catering — 10612 W Nine Mile Rd, Oak Park, MI 48237
Frequently Asked Questions
What type of property is this?
Flex space - Vacant office and warehouse property with flexible commercial space, included equipment, and access to I-75 and I-696.
Where is this flex space located?
The property is located at 12821 Capital St Oak Park, MI.
What is the asking price?
The asking price for this property is $590,000.
What are key features of this property?
This property features: Vacant flex property with office and warehouse areas; 0.43‑acre site plus adjacent 0.21‑acre parcel included; Constructed in 1955 with periodic renovations
