Eastern Market Warehouse for
For Sale
$2,800,000
Pending
2000 Division St, Detroit, MI 48207
32,000 SF warehouse suitable for creative office or flex space.
Property Size32,000 SF
Lot Size0.47 Acres
Days on Market307
Property Features for 2000 Division St
General Information
Standard status
Pending
Size
32,000 SF
Lot size
0.47 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$41,975
Building Details
Building Size
32,000 SF
Year Built
1969
Listing Agency:
Avison Young | Detroit
Listed By:
Sloane Walsh
(313) 963-9891
Source:
Elliman
Added: Dec 3, 2025
Changed: Sep 25
Last Checked: Oct 5 at 7:08PM
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 Avison Young | Detroit
Investment Insights
Based on property information with market context.
This 32,000-square-foot warehouse is located in Eastern Market. It is suitable for an adaptive reuse conversion for creative office space or industrial/flex space. The current owner has completed an extensive renovation of the building, investing in facade repairs, new windows, a new roof, elevators, and MEP systems. The open floor plan provides possibilities for developers or users looking to be within walking distance of Eastern Market and Downtown Detroit. This property is part of a collection of properties for sale in and around Eastern Market.
Key Highlights
- 32,000 sq ft warehouse ideal for adaptive reuse as creative office or industrial/flex space.
- Extensive recent renovation including facade repairs, new windows, roof, elevators, and MEP systems.
- Open floor plan offering limitless design possibilities.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$229,632
Cap Rate
8.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,592,640
$4.6M
Cap Rate 7%
$3,280,457
$3.3M
Cap Rate 9%
$2,551,467
$2.6M
Market Conditions
NOI Build-Up for 32,000 SF
Gross rent
$384.0K $12.00/SF
− Vacancy
−$30.7K −$0.96/SF
EGI
$353.3K $11.04/SF
− OpEx
−$123.6K −$3.86/SF
NOI
$229.6K $7.18/SF
Area
Detroit, MI
Vacancy
8.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,592,640
Cap Rate 7%
$3,280,457
Cap Rate 9%
$2,551,467
Alternative Uses
Best Use
Office B
$4.63M
$4.05M – $5.40M
NOI $324,190 @ 7.0% cap · market cap 11.58%
Second Best
Flex RnD
$3.28M
$2.87M – $3.83M
NOI $229,632 @ 7.0% cap · market cap 8.20%
Theoretical Best
Office A
$7.06M
$6.18M – $8.24M
NOI $494,153 @ 7.0% cap · market cap 17.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
925
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48207, MI
21,704
Population
13,026
Households
1.7
Avg Household Size
42
Median Age
35%
College-Educated
88%
High-School Grad
6.3 sq mi
ZIP Area
3,445
Density / Sq Mi
$44,561
Median Household Income
$43,377
Median Earnings
$1,040
Median Rent
$193,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Detroit, MI
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Frequently Asked Questions
What type of property is this?
Warehouse - 32,000 SF warehouse suitable for creative office or flex space.
Where is this warehouse located?
The property is located at 2000 Division St Detroit, MI.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: 32,000 sq ft warehouse ideal for adaptive reuse as creative office or industrial/flex space.; Extensive recent renovation including facade repairs, new windows, roof, elevators, and MEP systems.; Open floor plan offering limitless design possibilities.
