Multi-Building Industrial
For Sale
$1,795,000
24101 W Warren Street, Dearborn Heights, MI 48127
Multi-building warehouse complex includes a showroom and two additional structures with overhead doors and high ceilings.
Property Size11,240 SF
Price / SF$159.70
Days on Market148
Property Features for 24101 W Warren Street
General Information
Standard status
Active
Size
11,240 SF
Property subtype
Industrial
Additional Details
Clear Height
18 ft
Amenities
3
Asphalt, Rubber
167110
Building Details
Year Built
19
Listing Agency:
Century 21 Curran & Oberski
(313) 999-7688
Listed By:
Mike Ismail · License #6501377342
(313) 999-7688
Source:
Xome
Added: Mar 18
Changed: Aug 8
Last Checked: Aug 11 at 5:06AM
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 Century 21 Curran & Oberski
Investment Insights
Based on property information with market context.
This for-sale multi-building industrial facility includes an 11,000+ sqft warehouse property with two additional buildings on the same site. A 3,000 sqft showroom features a receptionist area, office space, storage, and two bathrooms. The showroom opens to a second building addition built in 1980, which includes an 18 ft high ceiling, overhead door access, a bathroom, and a separate building entrance. A third 2-story addition built in 1990 includes a large industrial laundry area, 18 ft ceilings, and first- and second-floor overhead doors. Building 3 could potentially be split into two units, and Buildings 2 and 3 share an open concept connection.
The property is located in the Telegraph & Warren Ave area, between Telegraph and Beech Daly, and includes a large parking lot. The public remarks note zoning flexibility (see city). The property across the street is also listed for sale (see MLS I.D # 2026107136).
The property is located in the Telegraph & Warren Ave area, between Telegraph and Beech Daly, and includes a large parking lot. The public remarks note zoning flexibility (see city). The property across the street is also listed for sale (see MLS I.D # 2026107136).
Key Highlights
- Multi‑building warehouse complex totaling 11,000+ sqft, with a 3,000 sqft showroom and two additional buildings.
- 3,000 sqft showroom includes receptionist area, office space, storage, and 2 bathrooms.
- 1980‑built second building features an 18‑ft high ceiling, overhead door, bathroom, new roof, and a separate building entrance.
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
$106,501
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
5.93%
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%
$2,130,020
$2.1M
Cap Rate 7%
$1,521,443
$1.5M
Cap Rate 9%
$1,183,344
$1.2M
Market Conditions
NOI Build-Up for 11,240 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
$161.9K $14.40/SF
− Vacancy
−$9.7K −$0.86/SF
EGI
$152.1K $13.54/SF
− OpEx
−$45.6K −$4.06/SF
NOI
$106.5K $9.48/SF
Area
Wayne County, MI
Vacancy
6.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
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%
$2,130,020
Cap Rate 7%
$1,521,443
Cap Rate 9%
$1,183,344
Alternative Uses
Best Use
Retail
$1.52M
$1.33M – $1.78M
NOI $106,501 @ 7.0% cap · market cap 5.93%
Second Best
Flex RnD
$1.01M
$886.5K – $1.18M
NOI $70,920 @ 7.0% cap · market cap 3.95%
Theoretical Best
Specialty Retail
$2.08M
$1.82M – $2.43M
NOI $145,670 @ 7.0% cap · market cap 8.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18 ft
Clear height
Location Intelligence
Trade Area within ½ mile
410
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48127, MI
41,222
Population
14,616
Households
2.8
Avg Household Size
35
Median Age
29%
College-Educated
90%
High-School Grad
7.7 sq mi
ZIP Area
5,354
Density / Sq Mi
$63,084
Median Household Income
$35,340
Median Earnings
$1,231
Median Rent
$217,000
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- The Rite Spice Catering Co. LLc — 7500 Bramell, Redford Charter Twp, MI 48239
Frequently Asked Questions
What type of property is this?
Flex space - Multi-building warehouse complex includes a showroom and two additional structures with overhead doors and high ceilings.
Where is this flex space located?
The property is located at 24101 W Warren Street Dearborn Heights, MI.
What is the asking price?
The asking price for this property is $1,795,000.
What are key features of this property?
This property features: Multi‑building warehouse complex totaling 11,000+ sqft, with a 3,000 sqft showroom and two additional buildings.; 3,000 sqft showroom includes receptionist area, office space, storage, and 2 bathrooms.; 1980‑built second building features an 18‑ft high ceiling, overhead door, bathroom, new roof, and a separate building entrance.
