Flex Space with Overhead
For Sale
Contact for pricing
21270 W Eight Mile Rd, Southfield, MI 48075
Industrial flex property with secure fenced storage and prominent main-road signage.
Property Size6,963 SF
Lot Size0.72 Acres
Price / SF$129.11
Days on Market20
Property Features for 21270 W Eight Mile Rd
General Information
Standard status
Active
Size
6,963 SF
Lot size
0.72 Acres
Property subtype
Industrial, Office
Site & Location
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Additional Details
Clear Height
16 ft
Building Details
Year Built
1953
Buildings
1
Units
1
Tenancy
Single
Listing Agency:
ACRES Group
Listed By:
Drew Sparks · License #6501469579
Source:
Crexi
Added: Aug 17
Changed: Sep 2
Last Checked: Sep 4 at 8:02PM
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 ACRES Group
Investment Insights
Based on property information with market context.
This flex space was built in 1953 and provides 6,963 square feet of commercial building area. The facility features 16-foot clear ceiling height, two overhead doors, and one truck well to support loading and operational access.
The property occupies approximately 0.72 acres and includes fenced, secure outdoor storage. Main-road signage provides an additional property feature for users requiring visible identification from the roadway.
The property occupies approximately 0.72 acres and includes fenced, secure outdoor storage. Main-road signage provides an additional property feature for users requiring visible identification from the roadway.
Key Highlights
- 6,963 square feet of flex space
- 16‑foot clear ceiling height
- Two overhead doors and one truck well
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
$72,017
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
8.01%
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%
$1,440,340
$1.4M
Cap Rate 7%
$1,028,814
$1.0M
Cap Rate 9%
$800,189
$800.2K
Market Conditions
NOI Build-Up for 6,963 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
$125.3K $18.00/SF
− Vacancy
−$14.5K −$2.09/SF
EGI
$110.8K $15.91/SF
− OpEx
−$38.8K −$5.57/SF
NOI
$72.0K $10.34/SF
Area
Oakland County, MI
Vacancy
11.60%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
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%
$1,440,340
Cap Rate 7%
$1,028,814
Cap Rate 9%
$800,189
Alternative Uses
Best Use
Flex RnD
$1.03M
$900.2K – $1.20M
NOI $72,017 @ 7.0% cap · market cap 8.01%
Second Best
Warehouse
$598.5K
$523.7K – $698.2K
NOI $41,892 @ 7.0% cap · market cap 4.66%
Theoretical Best
Specialty Retail
$1.50M
$1.31M – $1.75M
NOI $105,130 @ 7.0% cap · market cap 11.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
16 ft
Clear height
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
914
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48075, MI
22,967
Population
10,757
Households
2.1
Avg Household Size
42
Median Age
39%
College-Educated
95%
High-School Grad
7.3 sq mi
ZIP Area
3,146
Density / Sq Mi
$67,630
Median Household Income
$43,417
Median Earnings
$1,284
Median Rent
$218,900
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- SJAC Events — 22001 Northwestern Hwy, Southfield, MI 48075
Frequently Asked Questions
What type of property is this?
Flex space - Industrial flex property with secure fenced storage and prominent main-road signage.
Where is this flex space located?
The property is located at 21270 W Eight Mile Rd Southfield, MI.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 6,963 square feet of flex space; 16‑foot clear ceiling height; Two overhead doors and one truck well
