Cross-Dock Truck Terminal For
For Sale
$4,950,000
1630 Miller Rd, Dearborn, MI 48120
23,496 SF truck terminal on 6.56 acres, cross-dock configuration.
Property Size23,496 SF
Lot Size6.56 Acres
Price / SF$210.67
Days on Market97
Property Features for 1630 Miller Rd
General Information
Standard status
Active
Size
23,496 SF
Lot size
6.56 Acres
Property subtype
Industrial
Zoning
IC
Building Details
Building Size
23,496 SF
Listing Agency:
Colliers
(248) 226-1842
Listed By:
Peter J. Kepic
(248) 226-1842
Source:
Cpix.resimplifi
Added: May 18
Changed: Aug 21
Last Checked: Aug 22 at 3:27AM
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 Colliers
Investment Insights
Based on property information with market context.
This 23,496 square foot property is situated on a 6.56 acre site and features a 19,338 square foot dock area, 1,782 square feet of office space, and a 2,376 square foot repair bay. The property has clear heights ranging from 14 to 17 feet. It includes fifty-five 9' x 10' docks with doors and levelers, plus one ramped dock. The property offers rare cross-dock availability. The truck repair bay includes two 12' x 14' doors and a 17' clear height. Additional features include a gas island, full paving with a concrete dock apron, gated access, barbed wire, security cameras, and electrified fencing. The infill location is adjacent to the Ford Route Complex and Marathon Petroleum, with quick access to I-94, I-75, and international bridges. This property is suitable for truck terminal, industrial, and warehouse uses.
Key Highlights
- Rare cross‑dock availability
- Fifty‑Five (55) docks with doors and levelers
- 23,496 total SF on 6.56 acre site
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
$146,940
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
2.97%
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%
$2,938,800
$2.9M
Cap Rate 7%
$2,099,143
$2.1M
Cap Rate 9%
$1,632,667
$1.6M
Market Conditions
NOI Build-Up for 23,496 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
$180.4K $7.68/SF
− Vacancy
−$7.6K −$0.32/SF
EGI
$172.9K $7.36/SF
− OpEx
−$25.9K −$1.10/SF
NOI
$146.9K $6.25/SF
Area
Dearborn, MI
Vacancy
4.20%
Lease Rate
$7.68 /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%
$2,938,800
Cap Rate 7%
$2,099,143
Cap Rate 9%
$1,632,667
Alternative Uses
Best Use
Warehouse
$2.10M
$1.84M – $2.45M
NOI $146,940 @ 7.0% cap · market cap 2.97%
Second Best
Industrial
$1.97M
$1.72M – $2.30M
NOI $137,882 @ 7.0% cap · market cap 2.79%
Theoretical Best
Office A
$5.18M
$4.54M – $6.05M
NOI $362,832 @ 7.0% cap · market cap 7.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
283
Businesses Nearby
Explore this area
Business Placement
Demographics for 48120, MI
8,338
Population
2,910
Households
2.9
Avg Household Size
29
Median Age
37%
College-Educated
76%
High-School Grad
4.7 sq mi
ZIP Area
1,774
Density / Sq Mi
$66,667
Median Household Income
$48,170
Median Earnings
$1,407
Median Rent
$236,800
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Truck terminal - 23,496 SF truck terminal on 6.56 acres, cross-dock configuration.
Where is this truck terminal located?
The property is located at 1630 Miller Rd Dearborn, MI.
What is the asking price?
The asking price for this property is $4,950,000.
What are key features of this property?
This property features: Rare cross‑dock availability; Fifty‑Five (55) docks with doors and levelers; 23,496 total SF on 6.56 acre site
