Flex Building with Fenced
New
For Sale
$124,999
12930 E McNichols Rd, Detroit, MI 48205
An open interior, overhead access, and separate office or customer areas support a range of commercial functions.
Property Size1,784 SF
Days on Market2
Property Features for 12930 E McNichols Rd
General Information
Standard status
Active
Size
1,784 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$8,564
Building Details
Building Size
1,784 SF
Year Built
1957
Listed By:
Kelli Lewis
(586) 277-9200
Source:
Elliman
Added: Sep 26
Last Checked: Sep 26 at 3:17PM
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 1,980-square-foot flex building dates to 1957 and has a block exterior, an open interior, and high ceilings. Steel roll-down doors provide building access, while two separate rooms can serve as office, administrative, or customer areas. The bathroom was updated in 2024.
A fenced yard adds outdoor space for parking, storage, or equipment. The property fronts E McNichols Road in Detroit, and the supplied walk, bike, and transit scores are 54, 52, and 47, respectively.
A fenced yard adds outdoor space for parking, storage, or equipment. The property fronts E McNichols Road in Detroit, and the supplied walk, bike, and transit scores are 54, 52, and 47, respectively.
Key Highlights
- 1,980 square feet in a block building constructed in 1957
- Fenced yard offers space for parking, storage, or equipment
- Steel roll‑down doors and bay doors
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
$8,677
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
6.94%
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%
$173,540
$173.5K
Cap Rate 7%
$123,957
$124.0K
Cap Rate 9%
$96,411
$96.4K
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
$13.1K $7.32/SF
− Vacancy
−$663 −$0.37/SF
EGI
$12.4K $6.95/SF
− OpEx
−$3.7K −$2.08/SF
NOI
$8.7K $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%
$173,540
Cap Rate 7%
$123,957
Cap Rate 9%
$96,411
Alternative Uses
Best Use
Flex RnD
$182.9K
$160.0K – $213.4K
NOI $12,802 @ 7.0% cap · market cap 10.24%
Second Best
Industrial
$124.0K
$108.5K – $144.6K
NOI $8,677 @ 7.0% cap · market cap 6.94%
Theoretical Best
Office A
$393.6K
$344.4K – $459.2K
NOI $27,549 @ 7.0% cap · market cap 22.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Detroit, MI
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Frequently Asked Questions
What type of property is this?
Flex space - An open interior, overhead access, and separate office or customer areas support a range of commercial functions.
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 $124,999.
What are key features of this property?
This property features: 1,980 square feet in a block building constructed in 1957; Fenced yard offers space for parking, storage, or equipment; Steel roll‑down doors and bay doors
