Corner Flex Industrial
For Sale
$84,900
17503 STEPHENS DR, Eastpointe, MI 48021
Updated flex/industrial space on a corner lot with a half bathroom and a versatile interior layout.
Property Size760 SF
Price / SF$111.71
Days on Market205
Property Features for 17503 STEPHENS DR
General Information
Standard status
Active
Size
760 SF
Property subtype
Industrial
Amenities
3
19107
Building Details
Year Built
19
Listing Agency:
(248) 417-9617
Listed By:
Keller Williams Somerset
(248) 417-9617
Source:
Xome
Added: Jan 27
Changed: Aug 12
Last Checked: Aug 20 at 4:51AM
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 Somerset
Investment Insights
Based on property information with market context.
This updated and clean flex/industrial suite is situated on a corner lot and features an interior that is well maintained and described as nearly move-in ready. The space includes a half bathroom and a versatile layout suitable for a range of commercial uses.
The property is positioned in a convenient Eastpointe area, with quick access to I-94 and located just around the corner from Gratiot Ave. Its location supports straightforward access for clients, employees, and deliveries.
As a bank-owned offering, terms are subject to bank approval, and seller financing is listed as a possible option.
The property is positioned in a convenient Eastpointe area, with quick access to I-94 and located just around the corner from Gratiot Ave. Its location supports straightforward access for clients, employees, and deliveries.
As a bank-owned offering, terms are subject to bank approval, and seller financing is listed as a possible option.
Key Highlights
- Updated commercial flex/industrial space on a corner lot with a versatile interior layout.
- Half bathroom included.
- Convenient Eastpointe location near Gratiot Ave with quick access to I‑94 for clients, employees, and deliveries.
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
$4,098
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
4.83%
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%
$81,960
$82.0K
Cap Rate 7%
$58,543
$58.5K
Cap Rate 9%
$45,533
$45.5K
Market Conditions
NOI Build-Up for 760 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
$6.2K $8.16/SF
− Vacancy
−$347 −$0.46/SF
EGI
$5.9K $7.70/SF
− OpEx
−$1.8K −$2.31/SF
NOI
$4.1K $5.39/SF
Area
Macomb County, MI
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%
$81,960
Cap Rate 7%
$58,543
Cap Rate 9%
$45,533
Alternative Uses
Best Use
Flex RnD
$123.3K
$107.9K – $143.9K
NOI $8,632 @ 7.0% cap · market cap 10.17%
Second Best
Industrial
$58.5K
$51.2K – $68.3K
NOI $4,098 @ 7.0% cap · market cap 4.83%
Theoretical Best
Specialty Retail
$142.3K
$124.5K – $166.0K
NOI $9,960 @ 7.0% cap · market cap 11.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
523
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
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Similar Off Market Nearby
- S&J Catering — 17844 E 9 Mile Rd, Eastpointe, MI 48021
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- Meech Catering — 22241 Kelly Rd, Eastpointe, MI 48021
Frequently Asked Questions
What type of property is this?
Flex space - Updated flex/industrial space on a corner lot with a half bathroom and a versatile interior layout.
Where is this flex space located?
The property is located at 17503 STEPHENS DR Eastpointe, MI.
What is the asking price?
The asking price for this property is $84,900.
What are key features of this property?
This property features: Updated commercial flex/industrial space on a corner lot with a versatile interior layout.; Half bathroom included.; Convenient Eastpointe location near Gratiot Ave with quick access to I‑94 for clients, employees, and deliveries.
