Warehouse and Retail/Office
For Sale
$369,000
14333 Fenkell Street, Detroit, MI 48227
Solid building with warehouse and retail/office space for sale.
Property Size8,973 SF
Days on Market325
Property Features for 14333 Fenkell Street
General Information
Standard status
Active
Size
8,973 SF
Property subtype
Commercial
Zoning
Commercial
Taxes and HOA fees
Annual Taxes
$6,721
Building Details
Building Size
8,973 SF
Year Built
1957
Stories
1
Listing Agency:
ARG Realty
(313) 333-0111
Listed By:
Tarick M Salmaci · License #6502368290
(313) 333-0111
Source:
Phgrealty
Added: Oct 3, 2025
Changed: Aug 23
Last Checked: Aug 22 at 11:22AM
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 ARG Realty
Investment Insights
Based on property information with market context.
This solid building offers almost 9000 square feet of space, featuring a combination of warehouse space in the back and retail/office space in the front. The building is in great condition and presents many possibilities for various business uses. A 10-foot overhead roll-up door on the side of the building provides access to the warehouse area. The property is suitable for warehouse operations, retail businesses, storage facilities, collision shops, repair shops, and more. It includes a private, fenced-in parking lot.
Key Highlights
- Almost 9000 sqft of versatile space in this large building
- Warehouse and Retail/Office Space: Combined functionality for diverse business needs
- 10 ft Overhead Door: Convenient access for warehouse operations
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
$30,890
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
8.37%
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%
$617,800
$617.8K
Cap Rate 7%
$441,286
$441.3K
Cap Rate 9%
$343,222
$343.2K
Market Conditions
NOI Build-Up for 8,973 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
$53.8K $6.00/SF
− Vacancy
−$12.7K −$1.41/SF
EGI
$41.2K $4.59/SF
− OpEx
−$10.3K −$1.15/SF
NOI
$30.9K $3.44/SF
Area
ZIP 48227
Vacancy
23.50%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
25.00%
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%
$617,800
Cap Rate 7%
$441,286
Cap Rate 9%
$343,222
Alternative Uses
Best Use
Retail
$1.13M
$991.4K – $1.32M
NOI $79,311 @ 7.0% cap · market cap 21.49%
Second Best
Warehouse
$757.1K
$662.4K – $883.2K
NOI $52,994 @ 7.0% cap · market cap 14.36%
Theoretical Best
Multifamily LT 5
$1.46M
$1.28M – $1.70M
NOI $102,187 @ 7.0% cap · market cap 27.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
423
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48227, MI
40,266
Population
19,933
Households
2
Avg Household Size
36
Median Age
12%
College-Educated
83%
High-School Grad
7.5 sq mi
ZIP Area
5,369
Density / Sq Mi
$36,221
Median Household Income
$31,797
Median Earnings
$1,034
Median Rent
$70,900
Median Home Value
Market
Vacancy Rate% for Office in Detroit, MI
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Self Storage — 15370 grand river ave, detroit, mi 48227
- Self Storage — 15400 grand river ave, detroit, mi 48227
- Near-by Self Storage Units - Detroit, MI — 15400 Grand River Ave, Detroit, MI 48227
- Self Storage Secure — 14432 Greenfield Rd, Detroit, MI 48227
- Schaefer Lyndon Self Storage — 14541 Schaefer Hwy, Detroit, MI 48227
Frequently Asked Questions
What type of property is this?
Warehouse - Solid building with warehouse and retail/office space for sale.
Where is this warehouse located?
The property is located at 14333 Fenkell Street Detroit, MI.
What is the asking price?
The asking price for this property is $369,000.
What are key features of this property?
This property features: Almost 9000 sqft of versatile space in this large building; Warehouse and Retail/Office Space: Combined functionality for diverse business needs; 10 ft Overhead Door: Convenient access for warehouse operations
