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16068 E 8 Mile Road, Detroit, MI 48205
For-sale 1,048 SF office space on E 8 Mile Road in Detroit, suitable for owner-operators seeking a dedicated workspace.
Property Size1,048 SF
Price / SF$267.18
Days on Market185
Property Features for 16068 E 8 Mile Road
General Information
Standard status
Active
Size
1,048 SF
Property subtype
Business for Sale, Office
Additional Details
Business Included
Yes
Building Details
Year Built
1959
Listing Agency:
Keller Williams Paint Creek
Listed By:
Joseph Delia
Source:
Crexi
Added: Feb 3
Changed: Jul 10
Last Checked: Aug 6 at 6:15AM
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 Keller Williams Paint Creek
Investment Insights
Based on property information with market context.
This offering is for sale as a business with 1,048 square feet of office space. The property is presented as a business-for-sale opportunity and provides an established footprint sized for a small office operation.
Located at 16068 E 8 Mile Road in Detroit, MI 48205, the space is positioned along a major roadway, supporting day-to-day customer and business access. The listing does not specify building amenities or unit configuration, but it does provide a straightforward office-sized option for buyers looking to occupy or operate within a defined commercial interior.
With a compact, office-focused size, this property can fit a range of professional uses that require dedicated indoor workspace. Prospective buyers and brokers should review the space details and business transition requirements directly as part of their due diligence, since the listing information focuses on the business and total office area rather than specific improvements, layout, or operational details.
Located at 16068 E 8 Mile Road in Detroit, MI 48205, the space is positioned along a major roadway, supporting day-to-day customer and business access. The listing does not specify building amenities or unit configuration, but it does provide a straightforward office-sized option for buyers looking to occupy or operate within a defined commercial interior.
With a compact, office-focused size, this property can fit a range of professional uses that require dedicated indoor workspace. Prospective buyers and brokers should review the space details and business transition requirements directly as part of their due diligence, since the listing information focuses on the business and total office area rather than specific improvements, layout, or operational details.
Key Highlights
- 1,048 SF office space for sale on E 8 Mile Road in Detroit
- 1959 build year
- Business for sale and listed as 1,048 SF
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
$10,617
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
3.79%
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%
$212,340
$212.3K
Cap Rate 7%
$151,671
$151.7K
Cap Rate 9%
$117,967
$118.0K
Market Conditions
NOI Build-Up for 1,048 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
$18.4K $17.52/SF
− Vacancy
−$4.2K −$4.01/SF
EGI
$14.2K $13.51/SF
− OpEx
−$3.5K −$3.38/SF
NOI
$10.6K $10.13/SF
Area
Detroit, MI
Vacancy
22.90%
Lease Rate
$17.52 /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%
$212,340
Cap Rate 7%
$151,671
Cap Rate 9%
$117,967
Alternative Uses
Best Use
Office B
$151.7K
$132.7K – $177.0K
NOI $10,617 @ 7.0% cap · market cap 3.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$231.2K
$202.3K – $269.7K
NOI $16,184 @ 7.0% cap · market cap 5.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
489
Businesses Nearby
Explore this area
Business Placement
Demographics for 48205, MI
34,056
Population
17,102
Households
2
Avg Household Size
32
Median Age
9%
College-Educated
85%
High-School Grad
6.4 sq mi
ZIP Area
5,321
Density / Sq Mi
$40,612
Median Household Income
$30,833
Median Earnings
$1,149
Median Rent
$55,700
Median Home Value
Market
Vacancy Rate% for Office in Detroit, MI
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - For-sale 1,048 SF office space on E 8 Mile Road in Detroit, suitable for owner-operators seeking a dedicated workspace.
Where is this office units located?
The property is located at 16068 E 8 Mile Road Detroit, MI.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: 1,048 SF office space for sale on E 8 Mile Road in Detroit; 1959 build year; Business for sale and listed as 1,048 SF
