Office Unit with New
For Sale
Contact for pricing
22087 Outer Drive, Dearborn, MI 48124
A newer HVAC system complements the building’s roof replacement.
Property Size1,583 SF
Price / SF$1.01
Days on Market16
Property Features for 22087 Outer Drive
General Information
Standard status
Active
Size
1,583 SF
Property subtype
Commercial
Site & Location
Neighborhood
West Michigan Business
Highway Access
Yes
Road Access
Yes
Additional Details
Property Use
Office
Building Details
Year Built
1949
Listing Agency:
GoodHome Realty, LLC
Listed By:
Quinton Lemond
(248) 928-4992
Source:
Goodhomemi
Added: Oct 14
Changed: Oct 28
Last Checked: Oct 28 at 3:15PM
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 GoodHome Realty, LLC
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 office property at 22087 Outer Drive was built in 1949 and has a replacement roof and a newer HVAC system. The space is offered in its existing condition, with ownership open to discussing tenant improvements or a build-out under negotiated lease terms.
Outer Drive carries approximately 30,000 vehicles per day. The property offers access to Downtown Dearborn, I-94, and the Southfield Freeway.
Outer Drive carries approximately 30,000 vehicles per day. The property offers access to Downtown Dearborn, I-94, and the Southfield Freeway.
Key Highlights
- Outer Drive location with approximately 30,000 vehicles per day
- Replacement roof and newer HVAC system
- Access to Downtown Dearborn, I‑94, and the Southfield Freeway
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,445
Suggested Prices Based on Cap Rates
Cap Rate 5%
$348,900
$348.9K
Cap Rate 7%
$249,214
$249.2K
Cap Rate 9%
$193,833
$193.8K
Market Conditions
NOI Build-Up for 1,583 SF
Gross rent
$30.0K $18.96/SF
− Vacancy
−$6.8K −$4.27/SF
EGI
$23.3K $14.69/SF
− OpEx
−$5.8K −$3.67/SF
NOI
$17.4K $11.02/SF
Area
Dearborn, MI
Vacancy
22.50%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$348,900
Cap Rate 7%
$249,214
Cap Rate 9%
$193,833
Alternative Uses
Best Use
Office B
$249.2K
$218.1K – $290.8K
NOI $17,445 @ 7.0% cap · market cap 1,090.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$349.2K
$305.6K – $407.4K
NOI $24,445 @ 7.0% cap · market cap 1,527.81%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
601
Businesses Nearby
Explore this area
Business Placement
Demographics for 48124, MI
34,134
Population
14,787
Households
2.3
Avg Household Size
39
Median Age
40%
College-Educated
94%
High-School Grad
8.8 sq mi
ZIP Area
3,879
Density / Sq Mi
$78,353
Median Household Income
$49,103
Median Earnings
$1,280
Median Rent
$192,100
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - A newer HVAC system complements the building’s roof replacement.
Where is this office unit located?
The property is located at 22087 Outer Drive Dearborn, MI.
What are key features of this property?
This property features: Outer Drive location with approximately 30,000 vehicles per day; Replacement roof and newer HVAC system; Access to Downtown Dearborn, I‑94, and the Southfield Freeway
