Renovated Flex Space with
16813 WYOMING Street, Detroit, MI 48221
For Sale
$279,900
COM/IND/BUS OPP, Detroit, MI
Property Size3,100 SF
Lot Size0.10 Acres
Price / SF$90.29
Days on Market96
Property Features for 16813 WYOMING Street
General Information
Property type
Property subtype
Subdivision
Standard status
APN
Size
Lot size
Additional Details
Currently Operating
Property Use
Taxes and HOA fees
Tax Annual Amount
Utilities
Heating system
Water source
Amenities
Podcast studio
Kitchenette
Half bath
Reception/lounge area
Dedicated rear parking
Building Details
Year built
Listing Agency:
Century 21 Professionals · Century 21 Real Estate
(586) 731-8180
Listed By:
Ahmed Arafa · License MI #6506048224
(586) 215-1208
Added: Aug 6
Changed: Nov 2
Last Checked: Nov 9 at 7:06PM
MLS# 50217565
Copyright © 2026 Multiple Listing Service MiRealSource. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
The 3,100-square-foot flex property has been renovated for combined industrial and office use. Its open layout includes epoxied concrete flooring, LED warehouse lighting, a kitchenette, half bath, reception and lounge areas, a rear roll-up garage door, and a built-out podcast studio. The space is currently used as a distribution and fulfillment center.
Recent improvements include a new roof and rooftop HVAC backed by a one-year warranty. Dedicated parking is located behind the building, with additional public parking directly in front. The property was built in 1948, uses forced-air heating and public water, and carries B2 zoning.
The building is in Detroit’s Fitzgerald neighborhood, just west of Marygrove College and near the Live6 corridor, where the surrounding area has experienced recent development and investment activity.
Recent improvements include a new roof and rooftop HVAC backed by a one-year warranty. Dedicated parking is located behind the building, with additional public parking directly in front. The property was built in 1948, uses forced-air heating and public water, and carries B2 zoning.
The building is in Detroit’s Fitzgerald neighborhood, just west of Marygrove College and near the Live6 corridor, where the surrounding area has experienced recent development and investment activity.
Key Highlights
- 3,100 SF renovated flex space with warehouse and office functionality
- Built‑out podcast studio within an open commercial layout
- Epoxied concrete floors, LED warehouse lighting, kitchenette, and half bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,246
Cap Rate
7.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$444,920
$444.9K
Cap Rate 7%
$317,800
$317.8K
Cap Rate 9%
$247,178
$247.2K
Market Conditions
NOI Build-Up for 3,100 SF
Gross rent
$37.2K $12.00/SF
− Vacancy
−$3.0K −$0.96/SF
EGI
$34.2K $11.04/SF
− OpEx
−$12.0K −$3.86/SF
NOI
$22.2K $7.18/SF
Area
Detroit, MI
Vacancy
8.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$444,920
Cap Rate 7%
$317,800
Cap Rate 9%
$247,178
Alternative Uses
Best Use
Office B
$448.7K
$392.6K – $523.4K
NOI $31,406 @ 7.0% cap · market cap 11.22%
Second Best
Flex RnD
$317.8K
$278.1K – $370.8K
NOI $22,246 @ 7.0% cap · market cap 7.95%
Theoretical Best
Office A
$683.9K
$598.4K – $797.9K
NOI $47,871 @ 7.0% cap · market cap 17.10%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
777
Businesses Nearby
Under-served
Demand for This Use
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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
$138,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Flex space in Detroit, MI
Properties on Market for Flex space in Detroit
Vacancy Rate% for Office in Detroit, MI
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Frequently Asked Questions
What type of property is this?
Flex space - B2-zoned property combines warehouse utility with creative office improvements.
Where is this flex space located?
The property is located at 16813 WYOMING Street Detroit, MI.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: 3,100 SF renovated flex space with warehouse and office functionality; Built‑out podcast studio within an open commercial layout; Epoxied concrete floors, LED warehouse lighting, kitchenette, and half bath
