Industrial Warehouse For
24524 W 11 Mile Southfield, MI 48034
For Sale
Contact for pricing
Industrial warehouse property available for sale in Southfield, Michigan.
Property Size38,161 SF
Price / SF$87.79
Days on Market99
Property Features for 24524 W 11 Mile
General Information
Standard status
Active
Size
38,161 SF
Property subtype
Industrial
Building Details
Year Built
1974
Listing Agency:
Friedman Real Estate
(248) 848-1253
Listed By:
Zach Cummings · License #MI
Source:
Crexi
Added: Apr 23
Changed: Jul 21
Last Checked: Jul 29 at 5:56AM
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 Friedman Real Estate
Investment Insights
Based on property information with market context.
This industrial warehouse property is offered for sale and totals 38,161 square feet. The asset is categorized as warehouse/other warehouse commercial real estate.
The property is located at 24524 W 11 Mile in Southfield, Michigan.
Please note that no further building specifications, improvements, or current tenancy details were provided.
The property is located at 24524 W 11 Mile in Southfield, Michigan.
Please note that no further building specifications, improvements, or current tenancy details were provided.
Key Highlights
- Industrial warehouse property for sale in Southfield, Michigan
- Located at 24524 W 11 Mile, Southfield, Michigan
- Year built: 1974
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 | $280.5k | $7.35 |
| − Vacancy | −$10.4k | −$0.27 |
| EGI | $270.1k | $7.08 |
| − OpEx | −$40.5k | −$1.06 |
| NOI | $229.6k | $6.02 |
38,161 SF · lease $7.35/SF/yr · vacancy 3.70% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$3.28M
$2.87M – $3.83M
NOI $229,590 @ 7.0% cap · market cap 6.85%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$8.23M
$7.20M – $9.60M
NOI $576,170 @ 7.0% cap · market cap 17.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Similar Off Market Nearby
- Cubesmart Self Storage — Southfield, MI 48034
- Storage Rentals of America — 28223 Telegraph Rd, Southfield, MI 48034
Frequently Asked Questions
What type of property is this?
Warehouse - Industrial warehouse property available for sale in Southfield, Michigan.
Where is this warehouse located?
The property is located at 24524 W 11 Mile Southfield, MI.
What is the asking price?
The asking price for this property is $3,350,000.
What are key features of this property?
This property features: Industrial warehouse property for sale in Southfield, Michigan; Located at 24524 W 11 Mile, Southfield, Michigan; Year built: 1974
