Building Details

Year Built 1950

Listing Agency: Network Realty LLC

Listed By: Nadia Kassim · License #6501409154 Show Phone

Source: Katie-k

Added: Aug 28 Changed: Oct 4 Last Checked: Oct 7 at 3:19PM

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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

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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.

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 / Yr

$7,330

Cap Rate

8.14%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$146,600 $146.6K

Cap Rate 7%

$104,714 $104.7K

Cap Rate 9%

$81,444 $81.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,507 SF

Gross rent

$11.0K $7.32/SF

− Vacancy

−$560 −$0.37/SF

EGI

$10.5K $6.95/SF

− OpEx

−$3.1K −$2.08/SF

NOI

$7.3K $4.86/SF

Area

Detroit, MI

Vacancy

5.08%

Lease Rate

$7.32 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$146,600

Cap Rate 7%

$104,714

Cap Rate 9%

$81,444

Alternative Uses

Best Use

Flex RnD

$154.5K

$135.2K – $180.2K (±1% cap)

NOI $10,814 @ 7.0% cap · market cap 12.02%

Second Best

Industrial

$104.7K

$91.6K – $122.2K (±1% cap)

NOI $7,330 @ 7.0% cap · market cap 8.14%

Theoretical Best

Office A

$332.5K

$290.9K – $387.9K (±1% cap)

NOI $23,272 @ 7.0% cap · market cap 25.86%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Building Supply

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

3% 2019

4.2% 2020

2.5% 2021

2.4% 2022

3% 2023

3.4% 2024

3.7% 2025

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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 St Detroit, MI.

What is the asking price?

The asking price for this property is $89,999.

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