Industrial Warehouse with Drive-In
For Sale
$675,000
20237 John R St, Detroit, MI 48203
Purpose-built warehouse with substantial distribution capacity, tall clear height, and drive-in loading access.
Property Size10,656 SF
Price / SF$63.34
Days on Market59
Property Features for 20237 John R St
General Information
Standard status
Active
Size
10,656 SF
Property subtype
Commercial
Warehouse & Industrial
Clear Height
16 ft
Warehouse Space
10,656 SF
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$1,257
Building Details
Building Size
10,656 SF
Year Built
1994
Listing Agency:
Real Estate One-Troy
(248) 813-4900
Listed By:
Jack Butris · License #MI 6501294875
(248) 813-4900
Source:
Elliman
Added: Jul 4
Changed: Aug 30
Last Checked: Aug 30 at 9:26PM
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-Troy
Investment Insights
Based on property information with market context.
This purpose-built industrial warehouse contains 10,656K square feet and was completed in 1994. The facility is associated with the 20257 and 20237 addresses and features a 16-foot clear ceiling height with drive-in doors to support warehouse and distribution operations.
The property is positioned near the Highway 1-75 Freeway, providing access to a major shipping corridor. WalkScore is 55, classified as Somewhat Walkable, while bikeScore is 46, classified as Somewhat Bikeable.
The property is positioned near the Highway 1-75 Freeway, providing access to a major shipping corridor. WalkScore is 55, classified as Somewhat Walkable, while bikeScore is 46, classified as Somewhat Bikeable.
Key Highlights
- 10,656K‑SF industrial warehouse
- 16‑foot clear height ceiling
- Drive‑in big doors
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
$51,828
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
7.68%
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%
$1,036,560
$1.0M
Cap Rate 7%
$740,400
$740.4K
Cap Rate 9%
$575,867
$575.9K
Market Conditions
NOI Build-Up for 10,656 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
$78.0K $7.32/SF
− Vacancy
−$4.0K −$0.37/SF
EGI
$74.0K $6.95/SF
− OpEx
−$22.2K −$2.08/SF
NOI
$51.8K $4.86/SF
Area
Detroit, MI
Vacancy
5.08%
Lease Rate
$7.32 /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%
$1,036,560
Cap Rate 7%
$740,400
Cap Rate 9%
$575,867
Alternative Uses
Best Use
Warehouse
$1.08M
$949.2K – $1.27M
NOI $75,933 @ 7.0% cap · market cap 11.25%
Second Best
Industrial
$740.4K
$647.9K – $863.8K
NOI $51,828 @ 7.0% cap · market cap 7.68%
Theoretical Best
Office A
$2.35M
$2.06M – $2.74M
NOI $164,553 @ 7.0% cap · market cap 24.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
16 ft
Clear height
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
342
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48203, MI
22,168
Population
13,591
Households
1.6
Avg Household Size
39
Median Age
19%
College-Educated
85%
High-School Grad
8.2 sq mi
ZIP Area
2,703
Density / Sq Mi
$35,108
Median Household Income
$28,364
Median Earnings
$799
Median Rent
$76,100
Median Home Value
Market
Vacancy Rate% for Industrial in Detroit, MI
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Warehouse - Purpose-built warehouse with substantial distribution capacity, tall clear height, and drive-in loading access.
Where is this warehouse located?
The property is located at 20237 John R St Detroit, MI.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 10,656K‑SF industrial warehouse; 16‑foot clear height ceiling; Drive‑in big doors
