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 Market54
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: Sep 3
Last Checked: Sep 14 at 5:32AM
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
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 = 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
$26,279
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
8.76%
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%
$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
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
$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 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%
$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.
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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
