Westside Detroit Warehouse
For Sale
$375,000
14256 Wyoming, Detroit, MI 48238
Prime warehouse space for sale in Westside Detroit.
Property Size4,420 SF
Days on Market254
Property Features for 14256 Wyoming
General Information
Standard status
Active
Size
4,420 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$651
Building Details
Building Size
4,420 SF
Year Built
1945
Listing Agency:
Herbert J Hill Realty Real Estate Master
(313) 341-2656
Listed By:
Herbert J Hill Jr · License #6504381646
(313) 341-2656
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 8
Last Checked: Aug 8 at 5:48AM
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 Herbert J Hill Realty Real Estate Master
Investment Insights
Based on property information with market context.
This property offers approximately 6500 square feet of warehouse space. It is located on the westside of Detroit.
Key Highlights
- Approximately 6500 sq. ft. of warehouse space
- Prime warehouse space
- Located on the westside of Detroit
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
$31,496
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
8.40%
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%
$629,920
$629.9K
Cap Rate 7%
$449,943
$449.9K
Cap Rate 9%
$349,956
$350.0K
Market Conditions
NOI Build-Up for 4,420 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
$38.7K $8.76/SF
− Vacancy
−$1.7K −$0.38/SF
EGI
$37.1K $8.38/SF
− OpEx
−$5.6K −$1.26/SF
NOI
$31.5K $7.13/SF
Area
Detroit, MI
Vacancy
4.30%
Lease Rate
$8.76 /SF/Yr
Expense Ratio
15.00%
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%
$629,920
Cap Rate 7%
$449,943
Cap Rate 9%
$349,956
Alternative Uses
Best Use
Warehouse
$449.9K
$393.7K – $524.9K
NOI $31,496 @ 7.0% cap · market cap 8.40%
Second Best
Industrial
$307.1K
$268.7K – $358.3K
NOI $21,498 @ 7.0% cap · market cap 5.73%
Theoretical Best
Office A
$975.1K
$853.2K – $1.14M
NOI $68,255 @ 7.0% cap · market cap 18.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
251
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48238, MI
25,747
Population
16,341
Households
1.6
Avg Household Size
37
Median Age
13%
College-Educated
84%
High-School Grad
5.4 sq mi
ZIP Area
4,768
Density / Sq Mi
$30,286
Median Household Income
$25,948
Median Earnings
$950
Median Rent
$58,700
Median Home Value
Market
Vacancy Rate% for Industrial in Detroit, MI
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Prime warehouse space for sale in Westside Detroit.
Where is this warehouse located?
The property is located at 14256 Wyoming Detroit, MI.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Approximately 6500 sq. ft. of warehouse space; Prime warehouse space; Located on the westside of Detroit
