Open-Layout Flex
New
For Sale
$180,000
15360 SCHAEFER, Detroit, MI 48227
An attached reception and front lobby serve commercial space suited to office, warehouse, or retail use.
Property Size1,400 SF
Price / SF$128.57
Days on Market3
Property Features for 15360 SCHAEFER
General Information
Standard status
Active
Size
1,400 SF
Property subtype
Commercial
Site & Location
Neighborhood
Cadillac Community
Highway Access
Yes
Amenities
attached receptionist/front lobby
Building Details
Building Size
1,400 SF
Year Built
1956
Listed By:
Timothy Hillmer · License #6501385487
(313) 274-7200
Source:
Elliman
Added: Oct 28
Last Checked: Oct 28 at 4:24PM
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 Timothy Hillmer
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,400-square-foot flex property has an open interior and an attached reception area with a front lobby. The space is offered for office, warehouse, or retail use and can be customized with finishing work. The building dates to 1956.
The property is on Schaefer Road, near M-10, I-96, and the Southfield Freeway.
The property is on Schaefer Road, near M-10, I-96, and the Southfield Freeway.
Key Highlights
- 1,400 square feet of open commercial space
- Office, warehouse, or retail use
- Attached reception area and front lobby
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,374
Cap Rate
6.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$247,480
$247.5K
Cap Rate 7%
$176,771
$176.8K
Cap Rate 9%
$137,489
$137.5K
Market Conditions
NOI Build-Up for 1,400 SF
Gross rent
$19.3K $13.80/SF
− Vacancy
−$1.6K −$1.17/SF
EGI
$17.7K $12.63/SF
− OpEx
−$5.3K −$3.79/SF
NOI
$12.4K $8.84/SF
Area
ZIP 48227
Vacancy
8.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$247,480
Cap Rate 7%
$176,771
Cap Rate 9%
$137,489
Alternative Uses
Best Use
Retail
$176.8K
$154.7K – $206.2K
NOI $12,374 @ 7.0% cap · market cap 6.87%
Second Best
Flex RnD
$159.6K
$139.6K – $186.2K
NOI $11,171 @ 7.0% cap · market cap 6.21%
Theoretical Best
Multifamily LT 5
$227.8K
$199.3K – $265.7K
NOI $15,944 @ 7.0% cap · market cap 8.86%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
553
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 Industrial in Detroit, MI
Similar Off Market Nearby
- SALLYS WORLD CAFE LLC — 14043 Montrose St #201, Detroit, MI 48227
- Kathy’s Kitchen,LLC — 15370 Grand River Ave, Detroit, MI 48227
Frequently Asked Questions
What type of property is this?
Flex space - An attached reception and front lobby serve commercial space suited to office, warehouse, or retail use.
Where is this flex space located?
The property is located at 15360 SCHAEFER Detroit, MI.
What is the asking price?
The asking price for this property is $180,000.
What are key features of this property?
This property features: 1,400 square feet of open commercial space; Office, warehouse, or retail use; Attached reception area and front lobby
