Building Details

Year Built 1925

Buildings 2

Listing Agency: @properties Christie's Int'l

Listed By: Robert Lawrence · License #6506022838 Show Phone

Source: Katie-k

Added: Aug 8 Changed: Oct 8 Last Checked: Oct 7 at 3:59PM

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Investment Insights

Based on property information with market context.

This flex-space offering combines two commercial buildings at 14524 and 14534 Harper Ave with an additional parcel at 14520. The buildings contain 920 SF and 3,235 SF, respectively, providing a combined footprint of 4,155 SF across the improvements. The property is currently used as an upholstery workroom, and upholstery equipment, operating tools, and inventory may be included as part of the sale.

Both buildings feature forced-air heating and cooling systems. On-site parking is available, and the property offers access to I-94. The buildings were constructed in 1925 and are located in Detroit, Michigan.

Key Highlights

• Two commercial buildings totaling 4,155 SF: 3,235 SF and 920 SF
• Additional parcel included at 14520 Harper Ave
• Optional upholstery equipment, operating tools, and inventory

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$9,241

Cap Rate

4.74%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$184,820 $184.8K

Cap Rate 7%

$132,014 $132.0K

Cap Rate 9%

$102,678 $102.7K

Market Conditions

NOI Build-Up for 920 SF

Gross rent

$15.1K $16.44/SF

− Vacancy

−$907 −$0.99/SF

EGI

$14.2K $15.45/SF

− OpEx

−$5.0K −$5.41/SF

NOI

$9.2K $10.04/SF

Area

ZIP 48224

Vacancy

6.00%

Lease Rate

$16.44 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$184,820

Cap Rate 7%

$132,014

Cap Rate 9%

$102,678

Alternative Uses

Best Use

Flex RnD

$132.0K

$115.5K – $154.0K (±1% cap)

NOI $9,241 @ 7.0% cap · market cap 4.74%

Second Best

Industrial

$70.9K

$62.0K – $82.7K (±1% cap)

NOI $4,961 @ 7.0% cap · market cap 2.54%

Theoretical Best

Office A

$232.1K

$203.1K – $270.7K (±1% cap)

NOI $16,244 @ 7.0% cap · market cap 8.33%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Restaurant Spa & Massage Center Building Supply

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

300

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 48224, MI

39,633

Population

16,786

Households

2.4

Avg Household Size

33

Median Age

14%

College-Educated

84%

High-School Grad

5.8 sq mi

ZIP Area

6,833

Density / Sq Mi

$42,963

Median Household Income

$30,997

Median Earnings

$1,213

Median Rent

$77,900

Median Home Value

Market

Vacancy Rate% for Industrial in Detroit, MI

3% 2019

4.2% 2020

2.5% 2021

2.4% 2022

3% 2023

3.4% 2024

3.7% 2025

Questions? Ask Rey

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What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Two-building commercial property with HVAC, parking, and optional upholstery equipment and inventory.

Where is this flex space located?

The property is located at 14524 Harper Ave Detroit, MI.

What is the asking price?

The asking price for this property is $195,000.

What are key features of this property?

This property features: Two commercial buildings totaling 4,155 SF: 3,235 SF and 920 SF; Additional parcel included at 14520 Harper Ave; Optional upholstery equipment, operating tools, and inventory