Warren Avenue Property with
For Sale
$495,000
Pending
16921 W WARREN Ave, Detroit, MI 48228
Property on Warren Avenue with ample on-site parking.
Property Size4,800 SF
Lot Size0.28 Acres
Days on Market267
Property Features for 16921 W WARREN Ave
General Information
Standard status
Pending
Size
4,800 SF
Lot size
0.28 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$6,817
Building Details
Building Size
4,800 SF
Year Built
1949
Listing Agency:
RE/MAX Team 2000
(313) 561-0900
Listed By:
Yousef Beydoun · License #6501354088
(313) 561-0900
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 12
Last Checked: Aug 20 at 9:14AM
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 RE/MAX Team 2000
Investment Insights
Based on property information with market context.
This property presents an opportunity for investment or owner-occupancy. Situated on heavily traveled Warren Avenue, it benefits from high traffic counts and exposure. The surrounding area is densely populated. A notable feature is the ample on-site parking, with 25 spaces. The property is also available for lease at $3,750 per month on a modified gross lease. Land contract options may be available with a 55% to 60% down payment.
Key Highlights
- Prime location on heavily traveled Warren Avenue with high traffic and excellent exposure.
- Ample on‑site parking with 25 spaces, a rare feature on Warren Avenue.
- Opportunity for investment or owner‑user.
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
$28,168
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
5.69%
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%
$563,360
$563.4K
Cap Rate 7%
$402,400
$402.4K
Cap Rate 9%
$312,978
$313.0K
Market Conditions
NOI Build-Up for 4,800 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
$42.0K $8.76/SF
− Vacancy
−$1.8K −$0.38/SF
EGI
$40.2K $8.38/SF
− OpEx
−$12.1K −$2.51/SF
NOI
$28.2K $5.87/SF
Area
ZIP 48228
Vacancy
4.30%
Lease Rate
$8.76 /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%
$563,360
Cap Rate 7%
$402,400
Cap Rate 9%
$312,978
Alternative Uses
Best Use
Retail
$844.6K
$739.0K – $985.4K
NOI $59,121 @ 7.0% cap · market cap 11.94%
Second Best
Industrial
$402.4K
$352.1K – $469.5K
NOI $28,168 @ 7.0% cap · market cap 5.69%
Theoretical Best
Office A
$985.9K
$862.7K – $1.15M
NOI $69,013 @ 7.0% cap · market cap 13.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
449
Businesses Nearby
26k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 84%
Home Improvements & Furnishings 16%
Dollar General
Shops & Services
6,065 visits/mo
0.3 miles
Family Dollar
Shops & Services
5,487 visits/mo
0.2 miles
Sunoco
Shops & Services
4,446 visits/mo
0.2 miles
AutoZone
Shops & Services
3,579 visits/mo
0.3 miles
True Value Hardware
Home Improvements & Furnishings
2,977 visits/mo
0.5 miles
Demographics for 48228, MI
53,893
Population
22,620
Households
2.4
Avg Household Size
31
Median Age
11%
College-Educated
78%
High-School Grad
8.9 sq mi
ZIP Area
6,055
Density / Sq Mi
$31,485
Median Household Income
$27,533
Median Earnings
$1,086
Median Rent
$55,100
Median Home Value
Market
Vacancy Rate% for Retail in Detroit, MI
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- MIDWEST AUTO PROS — 16505 E Warren Ave, Detroit, MI 48224
Frequently Asked Questions
What type of property is this?
Parking lot & garage - Property on Warren Avenue with ample on-site parking.
Where is this parking lot & garage located?
The property is located at 16921 W WARREN Ave Detroit, MI.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Prime location on heavily traveled Warren Avenue with high traffic and excellent exposure.; Ample on‑site parking with 25 spaces, a rare feature on Warren Avenue.; Opportunity for investment or owner‑user.
