Freestanding Warehouse
For Sale
$725,000
2300 Michigan Avenue, Detroit, MI 48216
Freestanding warehouse building positioned directly across from Michigan Central Station on Michigan Avenue.
Property Size3,200 SF
Lot Size0.26 Acres
Price / SF$226.56
Days on Market50
Property Features for 2300 Michigan Avenue
General Information
Standard status
Active
Size
3,200 SF
Lot size
0.26 Acres
Property subtype
Commercial
Building Details
Year Built
1953
Listing Agency:
O'Connor Realty Detroit, LLC
(313) 963-9891
Listed By:
Vincent Mazzola · License #6501387170
(313) 963-9891
Source:
Carolbollo
Added: Jun 14
Changed: Jul 21
Last Checked: Aug 2 at 2:03PM
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 O'Connor Realty Detroit, LLC
Investment Insights
Based on property information with market context.
This for-sale warehouse building totals 3,200 square feet and is situated on an 0.258-acre site (11,238 square feet) at 2300 Michigan Avenue in Detroit. The property is designed as a standalone asset with visibility along Michigan Avenue and sits in a highly active development corridor.
The building is located directly across from Ford’s Michigan Central Station on Michigan Avenue. Surrounding area amenities and businesses include Level 3 Communications, Southwest Greenway, Honeybee Market, Airspace Link, Ford Motor Company’s Book Depository, New Lab Michigan Central, Detroit Bus Company, IMA, Slows BBQ, Metropolis Cycles, Mercury Burger Bar, Corktown Health Center, Detroit Public Safety Academy, and UPS Detroit International Import Hub.
The building is located directly across from Ford’s Michigan Central Station on Michigan Avenue. Surrounding area amenities and businesses include Level 3 Communications, Southwest Greenway, Honeybee Market, Airspace Link, Ford Motor Company’s Book Depository, New Lab Michigan Central, Detroit Bus Company, IMA, Slows BBQ, Metropolis Cycles, Mercury Burger Bar, Corktown Health Center, Detroit Public Safety Academy, and UPS Detroit International Import Hub.
Key Highlights
- Freestanding 3,200 SF warehouse building on a 0.258‑acre (11,238 SF) site
- Located directly across from Ford's Michigan Central Station on Michigan Avenue
- Situated in Corktown along Michigan Avenue, near numerous established and growing area employers and businesses
Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $28.0k | $8.76 |
| − Vacancy | −$1.2k | −$0.38 |
| EGI | $26.8k | $8.38 |
| − OpEx | −$4.0k | −$1.26 |
| NOI | $22.8k | $7.13 |
3,200 SF · lease $8.76/SF/yr · vacancy 4.30% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$325.8K
$285.0K – $380.1K
NOI $22,803 @ 7.0% cap · market cap 3.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$705.9K
$617.7K – $823.6K
NOI $49,415 @ 7.0% cap · market cap 6.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
620
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48216, MI
5,031
Population
3,398
Households
1.5
Avg Household Size
35
Median Age
37%
College-Educated
87%
High-School Grad
2.3 sq mi
ZIP Area
2,187
Density / Sq Mi
$42,278
Median Household Income
$42,189
Median Earnings
$860
Median Rent
$225,300
Median Home Value
Market
Properties on Market for Warehouses in Wayne County
Vacancy Rate% for Industrial in Detroit, MI
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Freestanding warehouse building positioned directly across from Michigan Central Station on Michigan Avenue.
Where is this warehouse located?
The property is located at 2300 Michigan Avenue Detroit, MI.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Freestanding 3,200 SF warehouse building on a 0.258‑acre (11,238 SF) site; Located directly across from Ford's Michigan Central Station on Michigan Avenue; Situated in Corktown along Michigan Avenue, near numerous established and growing area employers and businesses
