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$72.57
Days on Market371
Property Features for 21221 Eight Mile W
General Information
Standard status
Active
Size
20,600 SF
Property subtype
Retail
Listing Agency:
On Q Commercial Real Estate
Listed By:
Joe Qonja · License #6505432099
Source:
Crexi
Added: Jul 28, 2025
Changed: Jul 6
Last Checked: Aug 1 at 12:46PM
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
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 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 | $180.5k | $8.76 |
| − Vacancy | −$7.8k | −$0.38 |
| EGI | $172.7k | $8.38 |
| − OpEx | −$51.8k | −$2.51 |
| NOI | $120.9k | $5.87 |
20,600 SF · lease $8.76/SF/yr · vacancy 4.30% · expense 30.00%
Alternative Uses
Best Use
Retail
$3.62M
$3.17M – $4.23M
NOI $253,729 @ 7.0% cap · market cap 16.97%
Second Best
Warehouse
$2.10M
$1.83M – $2.45M
NOI $146,792 @ 7.0% cap · market cap 9.82%
Theoretical Best
Office A
$4.23M
$3.70M – $4.94M
NOI $296,181 @ 7.0% cap · market cap 19.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Industrial in Detroit, MI
Questions? Ask Rey
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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 $1,495,000.
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.
