Industrial Property with
For Sale
$3,400,000
20514 Woodingham Dr, Detroit, MI 48221
A licensed car dealership fronts 8 Mile Road, alongside a substantial industrial building.
Property Size45,457 SF
Days on Market9
Property Features for 20514 Woodingham Dr
General Information
Standard status
Active
Size
45,457 SF
Property subtype
Commercial
Zoning
M
Site & Location
Neighborhood
Garden Homes
Road Access
Yes
Additional Details
Automotive Uses
dealership/vehicle sales
Real Estate Included
Yes
Taxes and HOA fees
Annual Taxes
$100,351
Building Details
Building Size
45,457 SF
Year Built
1948
Listing Agency:
My Realty LLC
Listed By:
Salam Asmar
(248) 303-2194
Source:
Elliman
Added: Oct 23
Changed: Oct 29
Last Checked: Oct 30 at 2:29PM
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 My Realty LLC
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.
The offering includes an industrial building measuring more than 45,000 square feet and a licensed car dealership. The dealership fronts 8 Mile Road, while the property also includes a substantial rear portion. The sale includes 7765–7775 W 8 Mile Road. Potential uses and development plans are subject to applicable zoning, licensing, and city approvals.
Key Highlights
- Industrial building of more than 45,000 square feet
- Licensed car dealership fronts 8 Mile Road
- Sale includes 7765–7775 W 8 Mile Road
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$221,089
Cap Rate
6.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,421,780
$4.4M
Cap Rate 7%
$3,158,414
$3.2M
Cap Rate 9%
$2,456,544
$2.5M
Market Conditions
NOI Build-Up for 45,457 SF
Gross rent
$332.7K $7.32/SF
− Vacancy
−$16.9K −$0.37/SF
EGI
$315.8K $6.95/SF
− OpEx
−$94.8K −$2.08/SF
NOI
$221.1K $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 Rate 5%
$4,421,780
Cap Rate 7%
$3,158,414
Cap Rate 9%
$2,456,544
Alternative Uses
Best Use
Retail
$8.00M
$7.00M – $9.33M
NOI $559,890 @ 7.0% cap · market cap 16.47%
Second Best
Industrial
$3.16M
$2.76M – $3.68M
NOI $221,089 @ 7.0% cap · market cap 6.50%
Theoretical Best
Office A
$10.03M
$8.77M – $11.70M
NOI $701,959 @ 7.0% cap · market cap 20.65%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
674
Businesses Nearby
Explore this area
Business Placement
Demographics for 48221, MI
38,204
Population
17,452
Households
2.2
Avg Household Size
38
Median Age
29%
College-Educated
90%
High-School Grad
5.2 sq mi
ZIP Area
7,347
Density / Sq Mi
$55,583
Median Household Income
$37,019
Median Earnings
$1,174
Median Rent
$138,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Detroit, MI
Frequently Asked Questions
What type of property is this?
Industrial property - A licensed car dealership fronts 8 Mile Road, alongside a substantial industrial building.
Where is this industrial property located?
The property is located at 20514 Woodingham Dr Detroit, MI.
What is the asking price?
The asking price for this property is $3,400,000.
What are key features of this property?
This property features: Industrial building of more than 45,000 square feet; Licensed car dealership fronts 8 Mile Road; Sale includes 7765–7775 W 8 Mile Road
