Light Industrial Building with Fenced
For Sale
$300,000
16147 Philomene Blvd, Allen Park, MI 48101
Versatile light industrial building offers flexible interior space and a fenced yard for secure outdoor storage.
Property Size4,165 SF
Price / SF$72.03
Days on Market99
Property Features for 16147 Philomene Blvd
General Information
Standard status
Active
Size
4,165 SF
Property subtype
Industrial
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Building Details
Building Size
4,165 SF
Year Built
1963
Stories
1
Listing Agency:
Coldwell Banker Commercial Premier
Listed By:
James Iodice · License #MI6406043228
(248) 225-7180
Source:
Cpix.resimplifi
Added: Jul 23
Changed: Oct 25
Last Checked: Oct 28 at 4:42AM
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 Coldwell Banker Commercial Premier
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Versatile light industrial property totaling about 4,165 square feet, designed to support a single user or be configured for multiple occupants. The adaptable interior layout lends itself to a range of light industrial and warehouse-related activities, including contractor, service, assembly, and distribution uses.
A fenced yard provides secure outdoor storage for vehicles, equipment, or materials, supporting day-to-day operations that require both indoor and exterior space. Located at 16147 Philomene Blvd in Allen Park, Michigan, the property is suited to businesses looking to expand beyond smaller leased space or establish a larger operational footprint.
A fenced yard provides secure outdoor storage for vehicles, equipment, or materials, supporting day-to-day operations that require both indoor and exterior space. Located at 16147 Philomene Blvd in Allen Park, Michigan, the property is suited to businesses looking to expand beyond smaller leased space or establish a larger operational footprint.
Key Highlights
- Light industrial building built in 1963
- Just over 4,000 SF, with flexibility for a single user or multiple occupants
- Fenced yard provides secure outdoor storage for vehicles, equipment, or materials
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,279
Cap Rate
8.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$525,580
$525.6K
Cap Rate 7%
$375,414
$375.4K
Cap Rate 9%
$291,989
$292.0K
Market Conditions
NOI Build-Up for 4,165 SF
Gross rent
$42.0K $10.08/SF
− Vacancy
−$1.6K −$0.37/SF
EGI
$40.4K $9.71/SF
− OpEx
−$14.2K −$3.40/SF
NOI
$26.3K $6.31/SF
Area
Wayne County, MI
Vacancy
3.70%
Lease Rate
$10.08 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$525,580
Cap Rate 7%
$375,414
Cap Rate 9%
$291,989
Alternative Uses
Best Use
Flex RnD
$375.4K
$328.5K – $438.0K
NOI $26,279 @ 7.0% cap · market cap 8.76%
Second Best
Industrial
$308.0K
$269.5K – $359.4K
NOI $21,563 @ 7.0% cap · market cap 7.19%
Theoretical Best
Specialty Retail
$771.1K
$674.7K – $899.6K
NOI $53,978 @ 7.0% cap · market cap 17.99%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
824
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48101, MI
28,664
Population
12,413
Households
2.3
Avg Household Size
41
Median Age
30%
College-Educated
94%
High-School Grad
7.0 sq mi
ZIP Area
4,095
Density / Sq Mi
$80,045
Median Household Income
$51,658
Median Earnings
$1,181
Median Rent
$174,500
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Similar Off Market Nearby
- Buffy's Mexi-Casian Grill — 5955 Allen Rd, Allen Park, MI 48101
- Brooks & Landry Fine Catering — 4936 Allen Rd, Allen Park, MI 48101
Frequently Asked Questions
What type of property is this?
Flex space - Versatile light industrial building offers flexible interior space and a fenced yard for secure outdoor storage.
Where is this flex space located?
The property is located at 16147 Philomene Blvd Allen Park, MI.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Light industrial building built in 1963; Just over 4,000 SF, with flexibility for a single user or multiple occupants; Fenced yard provides secure outdoor storage for vehicles, equipment, or materials
