Flex Building with Fenced
For Sale
$139,999
12930 E McNichols Rd, Detroit, MI 48205
Open-plan commercial building with roll-up access, office areas, and an updated bathroom.
Property Size1,784 SF
Days on Market115
Property Features for 12930 E McNichols Rd
General Information
Standard status
Active
Size
1,784 SF
Property subtype
Commercial
Site & Location
Road Access
Yes
Public Transit
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Taxes and HOA fees
Annual Taxes
$4,316
Amenities
updated bathroom
air conditioning
fenced yard
Building Details
Building Size
1,784 SF
Year Built
1957
Buildings
1
Construction
block
Listing Agency:
(586) 277-9200
Listed By:
Kelli Lewis
(586) 277-9200
Source:
Elliman
Added: May 9
Changed: Aug 30
Last Checked: Aug 30 at 5:55PM
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 Kelli Lewis
Investment Insights
Based on property information with market context.
This 1957 block-built flex property provides just under 2,000 square feet of open commercial space. The interior includes high ceilings, steel roll-down and bay doors, and two distinct areas that can accommodate offices, administrative functions, or customer-facing use. The bathroom was updated in 2024, and the building includes an updated AC unit.
A fenced yard expands the property's practical utility for parking, storage, or equipment. Positioned on E McNichols Road in Detroit, the building fronts a busy main road and offers direct exposure to the surrounding commercial corridor. The property is ready for occupancy and combines enclosed workspace with secured outdoor area.
A fenced yard expands the property's practical utility for parking, storage, or equipment. Positioned on E McNichols Road in Detroit, the building fronts a busy main road and offers direct exposure to the surrounding commercial corridor. The property is ready for occupancy and combines enclosed workspace with secured outdoor area.
Key Highlights
- Just under 2,000 sq. ft. of flex space
- 1957 block building with high ceilings and an open layout
- Steel roll‑down and bay doors support loading and access
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
$12,802
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
9.14%
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%
$256,040
$256.0K
Cap Rate 7%
$182,886
$182.9K
Cap Rate 9%
$142,244
$142.2K
Market Conditions
NOI Build-Up for 1,784 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
$21.4K $12.00/SF
− Vacancy
−$1.7K −$0.96/SF
EGI
$19.7K $11.04/SF
− OpEx
−$6.9K −$3.86/SF
NOI
$12.8K $7.18/SF
Area
Detroit, MI
Vacancy
8.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
35.00%
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%
$256,040
Cap Rate 7%
$182,886
Cap Rate 9%
$142,244
Alternative Uses
Best Use
Flex RnD
$182.9K
$160.0K – $213.4K
NOI $12,802 @ 7.0% cap · market cap 9.14%
Second Best
Warehouse
$181.6K
$158.9K – $211.9K
NOI $12,712 @ 7.0% cap · market cap 9.08%
Theoretical Best
Office A
$393.6K
$344.4K – $459.2K
NOI $27,549 @ 7.0% cap · market cap 19.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,306
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48205, MI
34,056
Population
17,102
Households
2
Avg Household Size
32
Median Age
9%
College-Educated
85%
High-School Grad
6.4 sq mi
ZIP Area
5,321
Density / Sq Mi
$40,612
Median Household Income
$30,833
Median Earnings
$1,149
Median Rent
$55,700
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
- Tastes of Kewii mobile bar — 11000 W McNichols Rd # 323, Detroit, MI 48221
- Sterlings Bestie Cakes — 11000 W McNichols Rd #300, Detroit, MI 48221
- Precise Foods & Catering — W McNichols Rd, Detroit, MI 48221
- Hot Tracks Food Services — 18237 Stansbury Ave, Detroit, MI 48235
Frequently Asked Questions
What type of property is this?
Flex space - Open-plan commercial building with roll-up access, office areas, and an updated bathroom.
Where is this flex space located?
The property is located at 12930 E McNichols Rd Detroit, MI.
What is the asking price?
The asking price for this property is $139,999.
What are key features of this property?
This property features: Just under 2,000 sq. ft. of flex space; 1957 block building with high ceilings and an open layout; Steel roll‑down and bay doors support loading and access
