Eastpointe Flex Space For
For Sale
$350,000
17511 Stephens Drive, Eastpointe, MI 48021
2,000 SF flex space with showroom and fenced lot.
Property Size2,000 SF
Lot Size0.10 Acres
Price / SF$175
Days on Market647
Property Features for 17511 Stephens Drive
General Information
Standard status
Active
Size
2,000 SF
Lot size
0.10 Acres
Property subtype
Commercial/Industrial
Building Details
Year Built
1972
Listing Agency:
Real Estate One Inc-Shelby
(586) 709-1727
Listed By:
Thomas Zibkowski · License #6501186298
(586) 709-1727
Source:
Exitrealty
Added: Oct 30, 2024
Changed: Jul 10
Last Checked: Aug 6 at 4:10AM
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 Real Estate One Inc-Shelby
Investment Insights
Based on property information with market context.
This property offers a total of 2,000 sq. ft. of flex space, featuring 1,300 sq. ft. of open showroom-shop area that benefits from natural light through its windows. The property includes a private, fenced rear entry lot that provides access to an 8' overhead door. Additionally, the space is equipped with two bathrooms and a break area. This vacant property is ready for immediate possession and presents an opportunity for business owners. An additional building with an adjoining parking lot is also available.
Key Highlights
- 2,000 sq. ft. of flex space suitable for various business needs.
- 1,300 sq. ft. open showroom/shop area with natural light.
- Private, fenced rear entry lot with 8' overhead door for easy access.
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
$22,716
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
6.49%
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%
$454,320
$454.3K
Cap Rate 7%
$324,514
$324.5K
Cap Rate 9%
$252,400
$252.4K
Market Conditions
NOI Build-Up for 2,000 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
$39.6K $19.80/SF
− Vacancy
−$4.7K −$2.33/SF
EGI
$34.9K $17.47/SF
− OpEx
−$12.2K −$6.12/SF
NOI
$22.7K $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%
$454,320
Cap Rate 7%
$324,514
Cap Rate 9%
$252,400
Alternative Uses
Best Use
Flex RnD
$324.5K
$284.0K – $378.6K
NOI $22,716 @ 7.0% cap · market cap 6.49%
Second Best
Industrial
$154.1K
$134.8K – $179.7K
NOI $10,784 @ 7.0% cap · market cap 3.08%
Theoretical Best
Specialty Retail
$374.4K
$327.6K – $436.8K
NOI $26,210 @ 7.0% cap · market cap 7.49%
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
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- Meech Catering — 22241 Kelly Rd, Eastpointe, MI 48021
Frequently Asked Questions
What type of property is this?
Flex space - 2,000 SF flex space with showroom and fenced lot.
Where is this flex space located?
The property is located at 17511 Stephens Drive Eastpointe, MI.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 2,000 sq. ft. of flex space suitable for various business needs.; 1,300 sq. ft. open showroom/shop area with natural light.; Private, fenced rear entry lot with 8' overhead door for easy access.
