Flex Warehouse with Garage
For Sale
$325,000
16393 E WARREN Avenue, Detroit, MI 48224
Large open-space flex/warehouse with two bathrooms and a garage door for straightforward loading and access.
Property Size5,108 SF
Price / SF$63.63
Days on Market133
Property Features for 16393 E WARREN Avenue
General Information
Standard status
Active
Size
5,108 SF
Property subtype
Industrial
Additional Details
Drive-In Doors
1
Amenities
3
Building Details
Year Built
19
Listing Agency:
(248) 862-8307
Listed By:
Urban Luxury Real Estate
(248) 862-8307
Source:
Xome
Added: Apr 1
Changed: Aug 8
Last Checked: Aug 11 at 4:52AM
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 Urban Luxury Real Estate
Investment Insights
Based on property information with market context.
This for-sale flex warehouse offers a large, open interior layout designed to accommodate a range of business uses. The space includes two bathrooms and a garage door for convenient loading and access.
Located at E 16393 E Warren Avenue, Unit SourceFi, in Detroit, Michigan 48224, the property is presented for buyers seeking a straightforward building with flexible interior configuration.
The interior is primarily open, with functional support space provided by the two bathrooms and direct overhead/garage door access to the main area.
Located at E 16393 E Warren Avenue, Unit SourceFi, in Detroit, Michigan 48224, the property is presented for buyers seeking a straightforward building with flexible interior configuration.
The interior is primarily open, with functional support space provided by the two bathrooms and direct overhead/garage door access to the main area.
Key Highlights
- Large open‑space flex/warehouse layout with straightforward loading and access
- Includes two bathrooms
- Garage door for easy loading access
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
$27,543
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
8.47%
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%
$550,860
$550.9K
Cap Rate 7%
$393,471
$393.5K
Cap Rate 9%
$306,033
$306.0K
Market Conditions
NOI Build-Up for 5,108 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
$41.7K $8.16/SF
− Vacancy
−$2.3K −$0.46/SF
EGI
$39.3K $7.70/SF
− OpEx
−$11.8K −$2.31/SF
NOI
$27.5K $5.39/SF
Area
ZIP 48224
Vacancy
5.60%
Lease Rate
$8.16 /SF/Yr
Expense Ratio
30.00%
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%
$550,860
Cap Rate 7%
$393,471
Cap Rate 9%
$306,033
Alternative Uses
Best Use
Flex RnD
$733.0K
$641.4K – $855.2K
NOI $51,309 @ 7.0% cap · market cap 15.79%
Second Best
Warehouse
$477.8K
$418.1K – $557.4K
NOI $33,445 @ 7.0% cap · market cap 10.29%
Theoretical Best
Office A
$1.29M
$1.13M – $1.50M
NOI $90,188 @ 7.0% cap · market cap 27.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
300
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48224, MI
39,633
Population
16,786
Households
2.4
Avg Household Size
33
Median Age
14%
College-Educated
84%
High-School Grad
5.8 sq mi
ZIP Area
6,833
Density / Sq Mi
$42,963
Median Household Income
$30,997
Median Earnings
$1,213
Median Rent
$77,900
Median Home Value
Market
Vacancy Rate% for Industrial in Detroit, MI
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Large open-space flex/warehouse with two bathrooms and a garage door for straightforward loading and access.
Where is this flex space located?
The property is located at 16393 E WARREN Avenue Detroit, MI.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Large open‑space flex/warehouse layout with straightforward loading and access; Includes two bathrooms; Garage door for easy loading access
