Warehouse with Showroom and
For Sale
Contact for pricing
Pending
24101 W Warren Street, Dearborn Heights, MI 48127
11,240 SF warehouse with showroom and flexible zoning.
Property Size11,240 SF
Days on Market156
Property Features for 24101 W Warren Street
General Information
Standard status
Pending
Size
11,240 SF
Property subtype
Retail, Industrial
Zoning
Commercial
Investment Type
Owner/User
Building Details
Year Built
1990
Buildings
3
Stories
2
Listing Agency:
CENTURY 21 Curran & Oberski Dearborn Heights
(313) 203-8215
Listed By:
Dave Abdallah · License #MI
Source:
Crexi
Added: Mar 19
Changed: Aug 8
Last Checked: Jul 24 at 2:23PM
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 Dearborn Heights
Investment Insights
Based on property information with market context.
This property, located in the Telegraph & Warren Ave area, features over 11,000 sqft of warehouse space and two additional buildings. A 3,000 sqft showroom includes a receptionist area, office space, storage, and two bathrooms. The showroom opens to a second building addition, constructed in 1980, featuring an 18 ft high ceiling, overhead door, new roof, bathroom, and separate building entrance. The third building, a two-story addition built in 1990, offers a large industrial laundry area and 18 ft high ceiling. First and second floor overhead doors are present. The third building could potentially be split into two separate units. Buildings two and three have an open concept layout connecting them. The zoning is flexible, allowing for many possible uses. A large parking lot is available. The property is located between Telegraph and Beech Daly.
Key Highlights
- Over 11,000 sqft warehouse with 2 additional buildings.
- Flexible zoning with many possible uses (see city).
- 3,000 sqft showroom with receptionist area, office space, storage & 2 bathrooms.
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
5.34%
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 5.34%
Second Best
Warehouse
$1.01M
$883.3K – $1.18M
NOI $70,660 @ 7.0% cap · market cap 3.54%
Theoretical Best
Specialty Retail
$2.08M
$1.82M – $2.43M
NOI $145,670 @ 7.0% cap · market cap 7.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
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Frequently Asked Questions
What type of property is this?
Warehouse - 11,240 SF warehouse with showroom and flexible zoning.
Where is this warehouse 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 $1,995,000.
What are key features of this property?
This property features: Over 11,000 sqft warehouse with 2 additional buildings.; Flexible zoning with many possible uses (see city).; 3,000 sqft showroom with receptionist area, office space, storage & 2 bathrooms.
