Freestanding Flex
For Sale
$155,000
16921 E 9 Mile Rd, Eastpointe, MI 48021
Warehouse and retail configuration with a 2024 roof replacement.
Property Size800 SF
Price / SF$193.75
Days on Market70
Property Features for 16921 E 9 Mile Rd
General Information
Standard status
Active
Size
800 SF
Class
C
Total Parking Spaces
6
Property subtype
Retail, Office
Zoning
MU-2
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
800 SF
Year Built
1952
Year Renovated
2018
Buildings
1
Stories
1
Listing Agency:
Pilot Property Group
(586) 337-5241
Listed By:
James Diehl · License #6501368863
(586) 337-5241
Source:
Cpix.resimplifi
Added: Jun 23
Changed: Aug 31
Last Checked: Aug 31 at 2:47AM
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 Pilot Property Group
Investment Insights
Based on property information with market context.
This freestanding flex-space property combines warehouse and retail functionality in a building constructed in 1952. A new roof was installed in 2024, and the property is described as clean and well maintained.
The property is located at 16921 E 9 Mile Rd in Eastpointe, with access to I-94, Gratiot Ave, and 696.
The property is located at 16921 E 9 Mile Rd in Eastpointe, with access to I-94, Gratiot Ave, and 696.
Key Highlights
- Freestanding warehouse and retail building
- New roof installed in 2024
- Built in 1952
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
$9,086
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
5.86%
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%
$181,720
$181.7K
Cap Rate 7%
$129,800
$129.8K
Cap Rate 9%
$100,956
$101.0K
Market Conditions
NOI Build-Up for 800 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
$15.8K $19.80/SF
− Vacancy
−$1.9K −$2.33/SF
EGI
$14.0K $17.47/SF
− OpEx
−$4.9K −$6.12/SF
NOI
$9.1K $11.36/SF
Area
Macomb County, MI
Vacancy
11.75%
Lease Rate
$19.80 /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%
$181,720
Cap Rate 7%
$129,800
Cap Rate 9%
$100,956
Alternative Uses
Best Use
Flex RnD
$129.8K
$113.6K – $151.4K
NOI $9,086 @ 7.0% cap · market cap 5.86%
Second Best
Retail
$84.5K
$73.9K – $98.6K
NOI $5,914 @ 7.0% cap · market cap 3.82%
Theoretical Best
Specialty Retail
$149.8K
$131.1K – $174.7K
NOI $10,484 @ 7.0% cap · market cap 6.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
557
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48021, MI
34,244
Population
14,124
Households
2.4
Avg Household Size
37
Median Age
15%
College-Educated
89%
High-School Grad
5.1 sq mi
ZIP Area
6,715
Density / Sq Mi
$58,196
Median Household Income
$35,836
Median Earnings
$1,335
Median Rent
$129,100
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
- S&J Catering — 17844 E 9 Mile Rd, Eastpointe, MI 48021
- Made In Michigan Catering — 15561 N Park Ave, Eastpointe, MI 48021
- BOB'S BBQ & CATERING — 15852 Semrau Ave, Eastpointe, MI 48021
- Brittany's Bitch'n Kitchen LLC — 23715 Schroeder Ave, Eastpointe, MI 48021
Frequently Asked Questions
What type of property is this?
Flex space - Warehouse and retail configuration with a 2024 roof replacement.
Where is this flex space located?
The property is located at 16921 E 9 Mile Rd Eastpointe, MI.
What is the asking price?
The asking price for this property is $155,000.
What are key features of this property?
This property features: Freestanding warehouse and retail building; New roof installed in 2024; Built in 1952
