Large Industrial Office
20 Bartlett St Highland Park, MI 48203
20 Bartlett St, Highland Park, MI, 48203
$1,995,000
For Sale
$1,995,000
Large industrial and office building with a fenced lot and zoning supporting multiple commercial uses.
Property Size37,347 SF
Price / SF$53.42
Days on Market1983
Property Features for 20 Bartlett St
General Information
- Standard status
- Active
- Size
- 37,347 SF
- Property subtype
- Industrial
Listing agency
Insite Commercial
(248) 359-9000
Listed by
Kyle Nelson
(248) 359-9000
Source
Cpix.resimplifi
Added: Feb 15, 2021 Updated: Jul 21 at 7:43AM Checked: Jul 22 at 2:22AM
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 Insite Commercial
Investment Insights
Based on property information with market context.
This large industrial and office building includes a fenced lot and is positioned for flexible commercial use. Zoning allows for multiple uses, including mixed-use development, workshop/showrooms, educational facilities, and several commercial and office uses, providing a range of operating possibilities.
The property is centrally located along Woodward Avenue, with proximity to I-75 and Downtown Detroit. It is also noted as being near Oakland County and a new Amazon site at 8 Mile and Woodward.
For-sale details and additional information are available by contacting the broker.
The property is centrally located along Woodward Avenue, with proximity to I-75 and Downtown Detroit. It is also noted as being near Oakland County and a new Amazon site at 8 Mile and Woodward.
For-sale details and additional information are available by contacting the broker.
Key Highlights
- Large industrial/office building along Woodward Avenue
- Fenced lot included
- Centrally located near I‑75, Downtown Detroit, Oakland Co, and the new Amazon site at 8 Mile & Woodward
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $224.1k | $6.00 |
| − Vacancy | −$52.7k | −$1.41 |
| EGI | $171.4k | $4.59 |
| − OpEx | −$42.9k | −$1.15 |
| NOI | $128.6k | $3.44 |
37,347 SF · lease $6.00/SF/yr · vacancy 23.50% · expense 25.00%
Alternative Uses
Best Use
Flex RnD
$3.37M
$2.95M – $3.93M
NOI $235,644 @ 7.0% cap · market cap 11.81%
Second Best
Industrial
$2.76M
$2.42M – $3.22M
NOI $193,349 @ 7.0% cap · market cap 9.69%
Theoretical Best
Specialty Retail
$6.91M
$6.05M – $8.07M
NOI $484,017 @ 7.0% cap · market cap 24.26%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
Similar Off Market Nearby
- Grill Kings Catering CO. — 166 Eason Ave, Highland Park, MI 48203
- TANESHA'S SOUL FOOD CAFE — 15885 Woodward Ave, Highland Park, MI 48203
- Guerilla Food — 17740 Woodward Ave, Detroit, MI 48203
FAQs
What type of property is this?
Flex space - Large industrial and office building with a fenced lot and zoning supporting multiple commercial uses.
Where is this flex space located?
The property is located at 20 Bartlett St Highland Park, MI.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: Large industrial/office building along Woodward Avenue; Fenced lot included; Centrally located near I‑75, Downtown Detroit, Oakland Co, and the new Amazon site at 8 Mile & Woodward
