Warehouse with Loading
For Sale
$1,790,000
1600 E 10 Mile Rd, Hazel Park, MI 48030
Industrial-zoned warehouse with grade-level loading, interior docks, and finished office space.
Property Size20,427 SF
Price / SF$87.63
Days on Market397
Property Features for 1600 E 10 Mile Rd
General Information
Standard status
Active
Size
20,427 SF
Total Parking Spaces
40
Property subtype
Industrial
Zoning
Industrial
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Dock-High Doors
2
Drive-In Doors
2
Building Details
Building Size
20,427 SF
Year Built
1949
Buildings
1
Stories
1
Listing Agency:
Signature Associates - Southfield
(248) 359-0623
Listed By:
Alex Timmis · License #6501421748
(248) 359-0623
Source:
Cpix.resimplifi
Added: Jul 31, 2025
Changed: Aug 30
Last Checked: Aug 30 at 9:22PM
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 Signature Associates - Southfield
Investment Insights
Based on property information with market context.
This 20,427-square-foot warehouse was built in 1949 and includes two grade-level doors, two interior loading docks, and a finished second-floor office area. The property also provides 40 parking spaces and is designated for industrial use.
Located on Ten Mile Road, the building offers direct access to I-696 and I-75, with exposure along the main road. Its combination of warehouse functionality, office space, loading infrastructure, and highway connectivity supports a range of industrial operations.
Located on Ten Mile Road, the building offers direct access to I-696 and I-75, with exposure along the main road. Its combination of warehouse functionality, office space, loading infrastructure, and highway connectivity supports a range of industrial operations.
Key Highlights
- 20,427‑square‑foot warehouse built in 1949
- Two grade‑level doors and two interior loading docks
- Finished second‑floor office space
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
$122,896
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
6.87%
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%
$2,457,920
$2.5M
Cap Rate 7%
$1,755,657
$1.8M
Cap Rate 9%
$1,365,511
$1.4M
Market Conditions
NOI Build-Up for 20,427 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
$150.1K $7.35/SF
− Vacancy
−$5.6K −$0.27/SF
EGI
$144.6K $7.08/SF
− OpEx
−$21.7K −$1.06/SF
NOI
$122.9K $6.02/SF
Area
Oakland County, MI
Vacancy
3.70%
Lease Rate
$7.35 /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%
$2,457,920
Cap Rate 7%
$1,755,657
Cap Rate 9%
$1,365,511
Alternative Uses
Best Use
Warehouse
$1.76M
$1.54M – $2.05M
NOI $122,896 @ 7.0% cap · market cap 6.87%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.41M
$3.86M – $5.14M
NOI $308,415 @ 7.0% cap · market cap 17.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Dock-high doors
2
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
628
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48030, MI
14,983
Population
7,149
Households
2.1
Avg Household Size
38
Median Age
25%
College-Educated
90%
High-School Grad
2.8 sq mi
ZIP Area
5,351
Density / Sq Mi
$62,878
Median Household Income
$42,374
Median Earnings
$1,221
Median Rent
$141,200
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Warehouse - Industrial-zoned warehouse with grade-level loading, interior docks, and finished office space.
Where is this warehouse located?
The property is located at 1600 E 10 Mile Rd Hazel Park, MI.
What is the asking price?
The asking price for this property is $1,790,000.
What are key features of this property?
This property features: 20,427‑square‑foot warehouse built in 1949; Two grade‑level doors and two interior loading docks; Finished second‑floor office space
