Detroit Commercial Property on 8
For Sale
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21221 Eight Mile W, Detroit, MI 48219
Commercial property on 8 Mile, Detroit, suitable for retail/storage.
Property Size20,600 SF
Price / SF$70.15
Days on Market463
Property Features for 21221 Eight Mile W
General Information
Standard status
Active
Size
20,600 SF
Property subtype
Retail
Zoning
B-4
Site & Location
Neighborhood
Evergreen Lahser 7/8
Building Details
Buildings
1
Listing Agency:
On Q Commercial Real Estate
Listed By:
Joe Qonja · License #6505432099
Source:
Crexi
Added: Jul 28, 2025
Changed: Oct 25
Last Checked: Nov 1 at 3:50AM
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 On Q Commercial Real Estate
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This commercial property is strategically located on 8 Mile Road in Detroit, a heavily traveled route. The property offers excellent exposure and ample on-site parking. A drive-in overhead door provides convenient access. The flexible space is suitable for discount retailers, showrooms, or storage users. The property combines visibility, accessibility, and functionality in one of Detroit’s active commercial corridors. The property size is 20,600 square feet.
Key Highlights
- High‑traffic location on 8 Mile Road provides excellent exposure.
- Ample on‑site parking for customers and employees.
- Drive‑in overhead door offers convenient access for deliveries and operations.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$120,887
Cap Rate
8.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,417,740
$2.4M
Cap Rate 7%
$1,726,957
$1.7M
Cap Rate 9%
$1,343,189
$1.3M
Market Conditions
NOI Build-Up for 20,600 SF
Gross rent
$180.5K $8.76/SF
− Vacancy
−$7.8K −$0.38/SF
EGI
$172.7K $8.38/SF
− OpEx
−$51.8K −$2.51/SF
NOI
$120.9K $5.87/SF
Area
ZIP 48219
Vacancy
4.30%
Lease Rate
$8.76 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,417,740
Cap Rate 7%
$1,726,957
Cap Rate 9%
$1,343,189
Alternative Uses
Best Use
Retail
$3.62M
$3.17M – $4.23M
NOI $253,729 @ 7.0% cap · market cap 17.56%
Second Best
Warehouse
$2.10M
$1.83M – $2.45M
NOI $146,792 @ 7.0% cap · market cap 10.16%
Theoretical Best
Office A
$4.23M
$3.70M – $4.94M
NOI $296,181 @ 7.0% cap · market cap 20.50%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
423
Businesses Nearby
Explore this area
Business Placement
Demographics for 48219, MI
46,811
Population
20,815
Households
2.2
Avg Household Size
37
Median Age
13%
College-Educated
87%
High-School Grad
8.4 sq mi
ZIP Area
5,573
Density / Sq Mi
$43,882
Median Household Income
$31,187
Median Earnings
$1,037
Median Rent
$84,500
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?
Retail space - Commercial property on 8 Mile, Detroit, suitable for retail/storage.
Where is this retail space located?
The property is located at 21221 Eight Mile W Detroit, MI.
What is the asking price?
The asking price for this property is $1,445,000.
What are key features of this property?
This property features: High‑traffic location on 8 Mile Road provides excellent exposure.; Ample on‑site parking for customers and employees.; Drive‑in overhead door offers convenient access for deliveries and operations.
