Vacant Flex Space
New
For Sale
$129,999
2221 E Davison Street, Detroit, MI 48212
Vacant commercial building offering adaptable space for renovation and customization.
Property Size1,507 SF
Price / SF$86.26
Days on Market7
Property Features for 2221 E Davison Street
General Information
Standard status
Active
Size
1,507 SF
Property subtype
Business Opportunities
Property Condition
Severity
Repairs Needed
Evidence
renovate
Amenities
3
30103
Building Details
Year Built
1950
Listing Agency:
Network Realty LLC
(586) 668-3106
Listed By:
Nadia Kassim · License #6501409154
(586) 668-3106
Source:
Xome
Added: Aug 24
Changed: Aug 29
Last Checked: Aug 29 at 8:22PM
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 Network Realty LLC
Investment Insights
Based on property information with market context.
This vacant flex space building contains approximately 1,507 square feet and dates to 1950. The property is presented as a commercial building with an adaptable interior that can be renovated and configured for storage, business operations, or other commercial purposes, subject to verification of permitted uses and zoning.
Located at 2221 E Davison Street in Detroit, the property offers access to major roads. Buyers and their representatives should independently confirm zoning, permitted uses, measurements, and other property information before relying on the details for a purchase decision.
Located at 2221 E Davison Street in Detroit, the property offers access to major roads. Buyers and their representatives should independently confirm zoning, permitted uses, measurements, and other property information before relying on the details for a purchase decision.
Key Highlights
- 1,507‑square‑foot vacant commercial building
- Flex space suitable for renovation and customization
- Built in 1950
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
$10,814
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
8.32%
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%
$216,280
$216.3K
Cap Rate 7%
$154,486
$154.5K
Cap Rate 9%
$120,156
$120.2K
Market Conditions
NOI Build-Up for 1,507 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
$18.1K $12.00/SF
− Vacancy
−$1.4K −$0.96/SF
EGI
$16.6K $11.04/SF
− OpEx
−$5.8K −$3.86/SF
NOI
$10.8K $7.18/SF
Area
Detroit, MI
Vacancy
8.00%
Lease Rate
$12.00 /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%
$216,280
Cap Rate 7%
$154,486
Cap Rate 9%
$120,156
Alternative Uses
Best Use
Flex RnD
$154.5K
$135.2K – $180.2K
NOI $10,814 @ 7.0% cap · market cap 8.32%
Second Best
Industrial
$104.7K
$91.6K – $122.2K
NOI $7,330 @ 7.0% cap · market cap 5.64%
Theoretical Best
Office A
$332.5K
$290.9K – $387.9K
NOI $23,272 @ 7.0% cap · market cap 17.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
389
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48212, MI
43,192
Population
14,739
Households
2.9
Avg Household Size
29
Median Age
16%
College-Educated
68%
High-School Grad
5.3 sq mi
ZIP Area
8,149
Density / Sq Mi
$37,293
Median Household Income
$28,894
Median Earnings
$935
Median Rent
$98,200
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?
Flex space - Vacant commercial building offering adaptable space for renovation and customization.
Where is this flex space located?
The property is located at 2221 E Davison Street Detroit, MI.
What is the asking price?
The asking price for this property is $129,999.
What are key features of this property?
This property features: 1,507‑square‑foot vacant commercial building; Flex space suitable for renovation and customization; Built in 1950
