Industrial Property for
For Sale
Contact for pricing
23840 W 8 Mile Rd, Southfield, MI 48033
Industrial property available for purchase.
Property Size89,210 SF
Price / SF$55.49
Days on Market467
Property Features for 23840 W 8 Mile Rd
General Information
Standard status
Active
Size
89,210 SF
Property subtype
Industrial
Zoning
I-1, Light Industrial
Building Details
Year Built
1963
Stories
1
Listing Agency:
Thomas Duke Company
Listed By:
Eric Szerlag · License #MI 6501343471
(248) 476-3700
Source:
Crexi
Added: Jun 27, 2025
Changed: Oct 4
Last Checked: Oct 5 at 5:47PM
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 Thomas Duke Company
Investment Insights
Based on property information with market context.
This industrial property, with a size of 89210 square feet, is available for sale.
Key Highlights
- Established neighborhood (built in 1963)
- For Sale
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$442,003
Cap Rate
8.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,840,060
$8.8M
Cap Rate 7%
$6,314,329
$6.3M
Cap Rate 9%
$4,911,144
$4.9M
Market Conditions
NOI Build-Up for 89,210 SF
Gross rent
$655.7K $7.35/SF
− Vacancy
−$24.3K −$0.27/SF
EGI
$631.4K $7.08/SF
− OpEx
−$189.4K −$2.12/SF
NOI
$442.0K $4.95/SF
Area
Oakland County, MI
Vacancy
3.70%
Lease Rate
$7.35 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,840,060
Cap Rate 7%
$6,314,329
Cap Rate 9%
$4,911,144
Alternative Uses
Best Use
Industrial
$6.31M
$5.53M – $7.37M
NOI $442,003 @ 7.0% cap · market cap 8.93%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$19.24M
$16.84M – $22.45M
NOI $1,346,928 @ 7.0% cap · market cap 27.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
263
Businesses Nearby
Explore this area
Business Placement
Demographics for 48033, MI
17,207
Population
9,198
Households
1.9
Avg Household Size
47
Median Age
33%
College-Educated
93%
High-School Grad
9.1 sq mi
ZIP Area
1,891
Density / Sq Mi
$55,599
Median Household Income
$45,192
Median Earnings
$1,242
Median Rent
$195,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Industrial property - Industrial property available for purchase.
Where is this industrial property located?
The property is located at 23840 W 8 Mile Rd Southfield, MI.
What is the asking price?
The asking price for this property is $4,950,000.
What are key features of this property?
This property features: Established neighborhood (built in 1963); For Sale
