Warehouse with Updated
For Sale
Contact for pricing
16676 James Couzens Freeway, Detroit, MI 48221
Warehouse space off the Lodge Freeway with updated plumbing and electrical, offered as part of a connected fenced lot.
Property Size1,116 SF
Price / SF$134.41
Days on Market196
Property Features for 16676 James Couzens Freeway
General Information
Standard status
Active
Size
1,116 SF
Property subtype
Business for Sale, Mixed Use
Additional Details
Fenced Yard
Yes
Building Details
Year Built
1951
Listing Agency:
Keller Williams Realty-Great Lakes
Listed By:
Victoria McKay · License #MI 6502427681
Source:
Crexi
Added: Jan 23
Changed: Jul 10
Last Checked: Aug 5 at 12:51PM
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 Realty-Great Lakes
Investment Insights
Based on property information with market context.
This warehouse offers a flexible, open interior layout suited to a range of operational needs. The property’s plumbing and electrical have been updated, providing a more readily usable base for an incoming tenant or buyer. The space is presented as a blank canvas for customizing the layout to fit business requirements.
The site is conveniently located right off of The Lodge Freeway. The sale includes two additional parcels that combine to form the connected fenced-in lot associated with the property. This listing also notes that the adjacent building connected to the lot, 16666 James Couzens, is being sold as well.
For tenants or buyers looking for a warehouse with utility updates and room to tailor the space, this offering provides a practical starting point. The inclusion of connected fenced lot parcels can also support operations that benefit from contained outdoor space, while the possible acquisition of the connected building may appeal to users seeking an expanded footprint.
The site is conveniently located right off of The Lodge Freeway. The sale includes two additional parcels that combine to form the connected fenced-in lot associated with the property. This listing also notes that the adjacent building connected to the lot, 16666 James Couzens, is being sold as well.
For tenants or buyers looking for a warehouse with utility updates and room to tailor the space, this offering provides a practical starting point. The inclusion of connected fenced lot parcels can also support operations that benefit from contained outdoor space, while the possible acquisition of the connected building may appeal to users seeking an expanded footprint.
Key Highlights
- Warehouse space built in 1951
- Offered as part of a connected fenced‑in lot that includes this parcel plus two additional parcels
- All plumbing and electrical have been updated
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
$7,952
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
5.30%
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%
$159,040
$159.0K
Cap Rate 7%
$113,600
$113.6K
Cap Rate 9%
$88,356
$88.4K
Market Conditions
NOI Build-Up for 1,116 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
$9.8K $8.76/SF
− Vacancy
−$420 −$0.38/SF
EGI
$9.4K $8.38/SF
− OpEx
−$1.4K −$1.26/SF
NOI
$8.0K $7.13/SF
Area
Detroit, MI
Vacancy
4.30%
Lease Rate
$8.76 /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%
$159,040
Cap Rate 7%
$113,600
Cap Rate 9%
$88,356
Alternative Uses
Best Use
Warehouse
$113.6K
$99.4K – $132.5K
NOI $7,952 @ 7.0% cap · market cap 5.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$246.2K
$215.4K – $287.2K
NOI $17,234 @ 7.0% cap · market cap 11.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
924
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48221, MI
38,204
Population
17,452
Households
2.2
Avg Household Size
38
Median Age
29%
College-Educated
90%
High-School Grad
5.2 sq mi
ZIP Area
7,347
Density / Sq Mi
$55,583
Median Household Income
$37,019
Median Earnings
$1,174
Median Rent
$138,700
Median Home Value
Market
Vacancy Rate% for Industrial in Detroit, MI
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse space off the Lodge Freeway with updated plumbing and electrical, offered as part of a connected fenced lot.
Where is this warehouse located?
The property is located at 16676 James Couzens Freeway Detroit, MI.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: Warehouse space built in 1951; Offered as part of a connected fenced‑in lot that includes this parcel plus two additional parcels; All plumbing and electrical have been updated
