Flex Warehouse with Private
20825 Joy Rd Detroit, MI 48228
20825 Joy Rd, Detroit, MI, 48228
$340,000
For Sale
$340,000
Two-building flex warehouse includes high ceilings, an overhead door, and four private office spaces.
Property Size5,000 SF
Price / SF$68
Days on Market74
Property Features for 20825 Joy Rd
General Information
- Standard status
- Active
- Size
- 5,000 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1948
Listing agency
KW Commercial GR East
(313) 752-0000
Listed by
Ali Nasser · License #6501415190
(313) 752-0000
Source
Elliman
Added: May 9 Updated: Jul 20 at 9:57PM Checked: Jul 21 at 5:25AM
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 KW Commercial GR East
Investment Insights
Based on property information with market context.
This two-building commercial property offers nearly 5,000 square feet of flex warehouse space with a clean, open layout designed for a range of business uses. The warehouse features high ceilings and an overhead door, supported by a front lobby area and large open interior space. There are four private office spaces, updated interior finishes in the office areas, and 1.5 baths to support on-site work.
The property includes secure outdoor access with an electric gate and a gated private parking/yard area spanning lots 260–264. This setup supports loading and outdoor use while maintaining controlled access.
With office-ready improvements alongside warehouse functionality, the space is configured to support both daily operations and flexible light storage, distribution, or creative workspace needs under one roof.
The property includes secure outdoor access with an electric gate and a gated private parking/yard area spanning lots 260–264. This setup supports loading and outdoor use while maintaining controlled access.
With office-ready improvements alongside warehouse functionality, the space is configured to support both daily operations and flexible light storage, distribution, or creative workspace needs under one roof.
Key Highlights
- Two‑building commercial property (built 1948) with nearly 5,000 SF of flexible warehouse space
- Warehouse includes high ceilings and an overhead door for storage, distribution, or light industrial use
- Total of four private office spaces plus a front lobby and a large open floor plan for versatile business layouts
Local Financial Insights For Industrial
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 | $43.8k | $8.76 |
| − Vacancy | −$1.9k | −$0.38 |
| EGI | $41.9k | $8.38 |
| − OpEx | −$12.6k | −$2.51 |
| NOI | $29.3k | $5.87 |
5,000 SF · lease $8.76/SF/yr · vacancy 4.30% · expense 30.00%
Alternative Uses
Best Use
Office B
$801.6K
$701.4K – $935.2K
NOI $56,113 @ 7.0% cap · market cap 16.50%
Second Best
Flex RnD
$717.6K
$627.9K – $837.2K
NOI $50,232 @ 7.0% cap · market cap 14.77%
Theoretical Best
Office A
$1.03M
$898.6K – $1.20M
NOI $71,889 @ 7.0% cap · market cap 21.14%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
L & M Restoration ...
Construction Company
Similar For Sale Nearby
Similar Off Market Nearby
- Ohh Taste and See Catering and Decorating Services — 9647 Vaughan St, Detroit, MI 48228
FAQs
What type of property is this?
Flex space - Two-building flex warehouse includes high ceilings, an overhead door, and four private office spaces.
Where is this flex space located?
The property is located at 20825 Joy Rd Detroit, MI.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: Two‑building commercial property (built 1948) with nearly 5,000 SF of flexible warehouse space; Warehouse includes high ceilings and an overhead door for storage, distribution, or light industrial use; Total of four private office spaces plus a front lobby and a large open floor plan for versatile business layouts
