Warehouse with Fenced
For Sale
Contact for pricing
20380 Van Horn Rd, Trenton, MI 48183
9,350 sq. ft. warehouse on 1.86 acres near I-75.
Property Size9,350 SF
Lot Size1.86 Acres
Price / SF$105.35
Days on Market489
Property Features for 20380 Van Horn Rd
General Information
Standard status
Active
Size
9,350 SF
Lot size
1.86 Acres
Property subtype
Industrial, Office
Building Details
Year Built
1972
Year Renovated
2015
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Signature Associates
(248) 799-3143
Listed By:
Justin Gaffrey · License #MI 6501317055
Source:
Crexi
Added: Apr 10, 2025
Changed: Aug 8
Last Checked: Jul 23 at 7:35AM
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 Signature Associates
Investment Insights
Based on property information with market context.
This property features a 9,350 sq. ft. warehouse situated on 1.86 acres. It includes a fenced yard and truck/trailer parking. The location offers proximity to I-75 and Detroit Metro Airport.
Key Highlights
- 9,350 sq. ft. warehouse
- 1.86 acre lot
- Fenced yard provides added security
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
$58,778
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
5.97%
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%
$1,175,560
$1.2M
Cap Rate 7%
$839,686
$839.7K
Cap Rate 9%
$653,089
$653.1K
Market Conditions
NOI Build-Up for 9,350 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
$71.8K $7.68/SF
− Vacancy
−$2.7K −$0.28/SF
EGI
$69.2K $7.40/SF
− OpEx
−$10.4K −$1.11/SF
NOI
$58.8K $6.29/SF
Area
Wayne County, MI
Vacancy
3.70%
Lease Rate
$7.68 /SF/Yr
Expense Ratio
15.00%
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%
$1,175,560
Cap Rate 7%
$839,686
Cap Rate 9%
$653,089
Alternative Uses
Best Use
Warehouse
$839.7K
$734.7K – $979.6K
NOI $58,778 @ 7.0% cap · market cap 5.97%
Second Best
Industrial
$691.5K
$605.1K – $806.8K
NOI $48,406 @ 7.0% cap · market cap 4.91%
Theoretical Best
Specialty Retail
$1.73M
$1.51M – $2.02M
NOI $121,176 @ 7.0% cap · market cap 12.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
179
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48183, MI
42,447
Population
18,095
Households
2.3
Avg Household Size
43
Median Age
27%
College-Educated
94%
High-School Grad
18.0 sq mi
ZIP Area
2,358
Density / Sq Mi
$82,020
Median Household Income
$51,534
Median Earnings
$1,009
Median Rent
$214,000
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Safe Spot Storage — 3335 West Rd, Trenton, MI 48183
Frequently Asked Questions
What type of property is this?
Warehouse - 9,350 sq. ft. warehouse on 1.86 acres near I-75.
Where is this warehouse located?
The property is located at 20380 Van Horn Rd Trenton, MI.
What is the asking price?
The asking price for this property is $985,000.
What are key features of this property?
This property features: 9,350 sq. ft. warehouse; 1.86 acre lot; Fenced yard provides added security
