Duplex with Contractor Overhead
For Sale
$750,000
21550 - 21564 Groesbeck Hwy, Warren, MI 48089
Duplex includes two apartment units above and four overhead doors on a gated, fenced lot with freeway access.
Property Size12,164 SF
Price / SF$61.66
Days on Market243
Property Features for 21550 - 21564 Groesbeck Hwy
General Information
Standard status
Active
Size
12,164 SF
Property subtype
Industrial
Zoning
M-1
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Additional Details
Multifamily Units
2
Building Details
Building Size
12,164 SF
Listing Agency:
Burger & Company
Listed By:
Joseph G Pellerito
(248) 417-8246
Source:
Cpix.resimplifi
Added: Feb 20
Changed: Oct 4
Last Checked: Oct 20 at 5:16PM
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 Burger & Company
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.
This duplex offers a mixed layout with two residential apartment units located above the main use area. The property includes two addresses: 21550 Groesbeck Hwy with approximately 6,000 square feet and 21564 Groesbeck Hwy with approximately 6,164 square feet. The seller would consider leasing back 21550 Groesbeck Hwy. Ideal for a contractor or owner-user looking to combine residential income with flexible operational space.
The site is described as high visibility, with a gated, fenced lot and freeway accessibility. There are four overhead doors on the property: two doors sized 9’x10’, one door sized 10’x12’, and one door sized 16’x9’. The configuration supports practical loading and service access for a variety of day-to-day uses.
With residential units above and overhead door access below, this property is set up to accommodate both income-producing living space and hands-on operational needs in a single offering.
The site is described as high visibility, with a gated, fenced lot and freeway accessibility. There are four overhead doors on the property: two doors sized 9’x10’, one door sized 10’x12’, and one door sized 16’x9’. The configuration supports practical loading and service access for a variety of day-to-day uses.
With residential units above and overhead door access below, this property is set up to accommodate both income-producing living space and hands-on operational needs in a single offering.
Key Highlights
- Duplex with two residential apartment units above
- Approximately 6,000 SF (21550 Groesbeck) and 6,164 SF (21564 Groesbeck)
- Gated, fenced lot with freeway accessibility
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,490
Cap Rate
8.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,249,800
$1.2M
Cap Rate 7%
$892,714
$892.7K
Cap Rate 9%
$694,333
$694.3K
Market Conditions
NOI Build-Up for 12,164 SF
Gross rent
$93.4K $7.68/SF
− Vacancy
−$4.1K −$0.34/SF
EGI
$89.3K $7.34/SF
− OpEx
−$26.8K −$2.20/SF
NOI
$62.5K $5.14/SF
Area
Warren, MI
Vacancy
4.44%
Lease Rate
$7.68 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,249,800
Cap Rate 7%
$892,714
Cap Rate 9%
$694,333
Alternative Uses
Best Use
Flex RnD
$1.78M
$1.56M – $2.08M
NOI $124,861 @ 7.0% cap · market cap 16.65%
Second Best
Multifamily LT 5
$1.71M
$1.49M – $1.99M
NOI $119,420 @ 7.0% cap · market cap 15.92%
Theoretical Best
Office A
$2.68M
$2.35M – $3.13M
NOI $187,840 @ 7.0% cap · market cap 25.05%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
348
Businesses Nearby
Explore this area
Business Placement
Demographics for 48089, MI
32,012
Population
13,597
Households
2.4
Avg Household Size
35
Median Age
11%
College-Educated
83%
High-School Grad
8.0 sq mi
ZIP Area
4,002
Density / Sq Mi
$53,076
Median Household Income
$35,786
Median Earnings
$1,187
Median Rent
$117,300
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Duplex includes two apartment units above and four overhead doors on a gated, fenced lot with freeway access.
Where is this duplex located?
The property is located at 21550 - 21564 Groesbeck Hwy Warren, MI.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Duplex with two residential apartment units above; Approximately 6,000 SF (21550 Groesbeck) and 6,164 SF (21564 Groesbeck); Gated, fenced lot with freeway accessibility
