Improved Flex
For Sale
Contact for pricing
24061-24063 W 10 Mile Road, Southfield, MI 48033
Two separately configured areas offer flexible occupancy within an I-1 industrial-zoned property.
Property Size5,767 SF
Price / SF$155.89
Days on Market172
Property Features for 24061-24063 W 10 Mile Road
General Information
Standard status
Active
Size
5,767 SF
Total Parking Spaces
30
Property subtype
Retail, Industrial
Lease Type
NNN
Additional Details
Road Access
Yes
Drive-In Doors
1
Building Details
Buildings
1
Stories
1
Tenancy
Multi
Building Size
5,767 SF
Listing Agency:
KJ Commercial
Listed By:
Kevin Jappaya, CCIM · License #6502380656
(248) 851-8900
Source:
Crexi
Added: Apr 28
Changed: Oct 7
Last Checked: Oct 16 at 8:07AM
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 KJ Commercial
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 5,767 SF flex building is arranged as two separate spaces, providing a divided layout for industrial or commercial operations. The property includes one rear grade-level door and a kitchenette, with epoxy flooring, LED lighting, HVAC, plumbing, doors, windows, and façade improvements completed in recent years. The rear asphalt area was replaced in 2025.
Located on the south side of W. 10 Mile Road, the building sits east of Telegraph Road in Southfield, Michigan. Parking is shared with neighboring buildings and is available at both the front and rear. Built in 1968, the property carries I-1, Industrial zoning.
Located on the south side of W. 10 Mile Road, the building sits east of Telegraph Road in Southfield, Michigan. Parking is shared with neighboring buildings and is available at both the front and rear. Built in 1968, the property carries I-1, Industrial zoning.
Key Highlights
- 5,767 SF flex/retail building
- Currently divided into two spaces
- One grade‑level door at the rear
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,055
Cap Rate
6.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,241,100
$1.2M
Cap Rate 7%
$886,500
$886.5K
Cap Rate 9%
$689,500
$689.5K
Market Conditions
NOI Build-Up for 5,767 SF
Gross rent
$96.9K $16.80/SF
− Vacancy
−$8.2K −$1.43/SF
EGI
$88.7K $15.37/SF
− OpEx
−$26.6K −$4.61/SF
NOI
$62.1K $10.76/SF
Area
Oakland County, MI
Vacancy
8.50%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,241,100
Cap Rate 7%
$886,500
Cap Rate 9%
$689,500
Alternative Uses
Best Use
Retail
$886.5K
$775.7K – $1.03M
NOI $62,055 @ 7.0% cap · market cap 6.90%
Second Best
Flex RnD
$852.1K
$745.6K – $994.1K
NOI $59,647 @ 7.0% cap · market cap 6.63%
Theoretical Best
Specialty Retail
$1.24M
$1.09M – $1.45M
NOI $87,072 @ 7.0% cap · market cap 9.69%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
1
Drive-in doors
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
513
Businesses Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Two separately configured areas offer flexible occupancy within an I-1 industrial-zoned property.
Where is this flex space located?
The property is located at 24061-24063 W 10 Mile Road Southfield, MI.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 5,767 SF flex/retail building; Currently divided into two spaces; One grade‑level door at the rear
