Office-Warehouse Flex
1931-1935 Vernier Rd, Grosse Pointe Woods, MI 48236
For Sale
New
$779,000
Pending
The layout combines a dedicated warehouse area with private offices, meeting space, and additional second-floor areas.
Property Size6,060 SF
Days on Market3
Property Features for 1931-1935 Vernier Rd
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Additional Details
Utilities to Site
Warehouse Space
Property Use
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Jim Saros Real Estate Services
Listed By:
Ryan Berns · License MI #6501427412
(313) 886-9030
Source:
Elliman
Added: Nov 8
Last Checked: Nov 4 at 10:19AM
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 Jim Saros Real Estate Services
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 6,060-square-foot flex property combines office space with approximately 2,000 square feet of warehouse area and a 16-foot overhead roll-up door. The main level includes nine private offices, a conference room, a reception office, and four bathrooms. Upstairs, a 420-square-foot private loft office overlooks the warehouse; the second floor also has approximately 1,500 square feet of semi-finished open space, a kitchenette, and another bathroom.
Recent capital work includes a full roof tear-off, HVAC, electrical, and windows. The property has three separate utility meters and up to 8 designated parking spaces, with street parking also available. It is located on Vernier Road in Grosse Pointe Woods, Michigan.
Recent capital work includes a full roof tear-off, HVAC, electrical, and windows. The property has three separate utility meters and up to 8 designated parking spaces, with street parking also available. It is located on Vernier Road in Grosse Pointe Woods, Michigan.
Key Highlights
- 6,060 square feet, including approximately 2,000 square feet of warehouse space
- 16‑foot overhead roll‑up door
- Nine private offices, conference room, reception office, and four main‑level bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,236
Cap Rate
4.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$764,720
$764.7K
Cap Rate 7%
$546,229
$546.2K
Cap Rate 9%
$424,844
$424.8K
Market Conditions
NOI Build-Up for 6,060 SF
Gross rent
$61.1K $10.08/SF
− Vacancy
−$2.3K −$0.37/SF
EGI
$58.8K $9.71/SF
− OpEx
−$20.6K −$3.40/SF
NOI
$38.2K $6.31/SF
Area
Wayne County, MI
Vacancy
3.70%
Lease Rate
$10.08 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$764,720
Cap Rate 7%
$546,229
Cap Rate 9%
$424,844
Alternative Uses
Best Use
Flex RnD
$546.2K
$478.0K – $637.3K
NOI $38,236 @ 7.0% cap · market cap 4.91%
Second Best
Warehouse
$544.2K
$476.2K – $634.9K
NOI $38,096 @ 7.0% cap · market cap 4.89%
Theoretical Best
Specialty Retail
$1.12M
$981.7K – $1.31M
NOI $78,538 @ 7.0% cap · market cap 10.08%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
160
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48236, MI
31,286
Population
13,078
Households
2.4
Avg Household Size
45
Median Age
68%
College-Educated
97%
High-School Grad
7.5 sq mi
ZIP Area
4,171
Density / Sq Mi
$130,776
Median Household Income
$69,959
Median Earnings
$1,588
Median Rent
$353,000
Median Home Value
Market
Average Price Trend$/SF for Flex space in Wayne County, MI
Properties on Market for Flex space in Wayne County
Vacancy Rate% for Industrial in Midwest region
Similar Off Market Nearby
- Salvatore Scallopini Italian — 19655 Mack Ave, Grosse Pointe Woods, MI 48236
Frequently Asked Questions
What type of property is this?
Flex space - The layout combines a dedicated warehouse area with private offices, meeting space, and additional second-floor areas.
Where is this flex space located?
The property is located at 1931-1935 Vernier Rd Grosse Pointe Woods, MI.
What is the asking price?
The asking price for this property is $779,000.
What are key features of this property?
This property features: 6,060 square feet, including approximately 2,000 square feet of warehouse space; 16‑foot overhead roll‑up door; Nine private offices, conference room, reception office, and four main‑level bathrooms
