Listing Agency: Cosmopolitan Real Estate Svs Show Phone

Listed By: Clifford Rockefeller · License #6501323376 Show Phone

Source: Exprealty

Added: Jan 21 Changed: Oct 10 Last Checked: Oct 24 at 10:45PM

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Investment Insights

Based on property information with market context.

This warehouse and flex-style industrial property includes a large yard, ample office space, and storage areas configured to support active operations. Loading docks are provided with overhead doors, and the office area has been renovated.

The property is located in Detroit and is close to freeways and railroads, with easy access to major transportation routes. It is currently being used by a trucking company.

The entire property has been updated with new HVAC, plumbing, and electrical systems. Seller financing is available with a minimum of 30% down.

Key Highlights

• Warehouse property with loading docks and overhead doors
• Renovated office area
• New HVAC, plumbing, and electrical system throughout the entire property

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$50,376

Cap Rate

5.93%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,007,520 $1.0M

Cap Rate 7%

$719,657 $719.7K

Cap Rate 9%

$559,733 $559.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 7,020 SF

Gross rent

$84.2K $12.00/SF

− Vacancy

−$6.7K −$0.96/SF

EGI

$77.5K $11.04/SF

− OpEx

−$27.1K −$3.86/SF

NOI

$50.4K $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 Rate 5%

$1,007,520

Cap Rate 7%

$719,657

Cap Rate 9%

$559,733

Alternative Uses

Best Use

Flex RnD

$719.7K

$629.7K – $839.6K (±1% cap)

NOI $50,376 @ 7.0% cap · market cap 5.93%

Second Best

Warehouse

$714.6K

$625.3K – $833.7K (±1% cap)

NOI $50,023 @ 7.0% cap · market cap 5.89%

Theoretical Best

Office A

$1.55M

$1.36M – $1.81M (±1% cap)

NOI $108,405 @ 7.0% cap · market cap 12.75%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Dental Office Spa & Massage Center Restaurant Building Supply Hair Salon

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 48223, MI

22,956

Population

11,264

Households

2

Avg Household Size

36

Median Age

19%

College-Educated

91%

High-School Grad

6.1 sq mi

ZIP Area

3,763

Density / Sq Mi

$42,324

Median Household Income

$30,119

Median Earnings

$1,013

Median Rent

$87,700

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

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Frequently Asked Questions

What type of property is this?

Flex space - Warehouse with loading docks, renovated office space, and new HVAC, plumbing, and electrical system throughout.

Where is this flex space located?

The property is located at 13507 Auburn St Detroit, MI.

What is the asking price?

The asking price for this property is $850,000.

What are key features of this property?

This property features: Warehouse property with loading docks and overhead doors; Renovated office area; New HVAC, plumbing, and electrical system throughout the entire property