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    Eastern Market Warehouse Conversion Opportunity Title is generated by Realmo AI

    1482 Adelaide St, Detroit, MI 48207

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    For Sale
    $3,200,000

    Seven-story, 37,504 SF warehouse suitable for adaptive reuse.

    Type:Commercial
    Property size:
    37,504 SF
    Lot size:
    0.12 Acres
    Price / SF:
    $85/SF
    Added:
    Mar 12, 2026
    Days on Market:
    118
    Last Refresh:
    Jul 2 at 7:38 am

    Property Features for 1482 Adelaide St

    General Information

    Standard status
    Active
    Size
    37,504 SF
    Lot size
    0.12 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1927

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    Sloane Walsh
    Sloane Walsh

    Listing office O'Connor Real Estate

    Listing date Mar 12, 2026

    Source Elliman

    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 O'Connor Real Estate

    HighLights

    • Prime location in the heart of Eastern Market, Detroit.
    • Ideal for adaptive reuse conversion into creative office space or residential lofts.
    • Development‑ready condition due to current owner's maintenance.
    • Open floor plan and high ceilings create a versatile space.
    • Part of a monumental collection of properties for sale, offering flexibility in acquisition.
    • Substantial size: 37,504 square feet across seven stories.

    Overview

    Located in the heart of Eastern Market, this seven-story warehouse offers 37,504 square feet of space. The property is suitable for an adaptive reuse conversion into creative office space or residential lofts. The current owner has maintained the property, making it development-ready. The open floor plan and high ceilings provide a blank canvas for developers or users seeking a location within one block of Detroit’s historic open-air market. This property is part of a collection of real estate offered for sale in and around Eastern Market.

    Local Financial Insights For Warehouse

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $328.5k $8.76
    − Vacancy −$14.1k −$0.38
    EGI $314.4k $8.38
    − OpEx −$47.2k −$1.26
    NOI $267.2k $7.13
    37,504 SF · lease $8.76/SF/yr · vacancy 4.30% · expense 15.00%

    Alternative Uses

    Best Use
    Warehouse
    $3.82M
    $3.34M – $4.45M (±1% cap)
    NOI $267,247 @ 7.0% cap · market cap 8.35%
    Second Best
    Industrial
    $2.61M
    $2.28M – $3.04M (±1% cap)
    NOI $182,408 @ 7.0% cap · market cap 5.70%
    Theoretical Best
    Office A
    $8.27M
    $7.24M – $9.65M (±1% cap)
    NOI $579,147 @ 7.0% cap · market cap 18.10%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Warehouses

    Suggested Use

    Building Supply Spa & Massage Center Hair Salon Auto Repair Shop Auto Parts Store Nail Salon Kitchen & Bath Showroom HVAC Service Electronics & Wireless Store Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Eastern Market Cold Storage Co — 2531 Riopelle St, Detroit, MI 48207
    • Egro-Stroh — 1000 Maple St, Detroit, MI 48207
    • MI Frozen Food, LLC — 1820 Mack Ave, Detroit, MI 48207
    • Hired Muscle Logistics, Labor and Moving — 2200 Hunt St Suite 478, Detroit, MI 48207

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.039
    Latitude
    42.3469

    FAQs

    What type of property is this?
    Warehouse - Seven-story, 37,504 SF warehouse suitable for adaptive reuse.
    Where is this warehouse located?
    The property is located at 1482 Adelaide St Detroit, MI.
    What is the asking price?
    The asking price for this property is $3,200,000.
    What are key features of this property?
    This property features: Prime location in the heart of Eastern Market, Detroit.; Ideal for adaptive reuse conversion into creative office space or residential lofts.; Development‑ready condition due to current owner's maintenance.
    More about this property
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