Freestanding Flex Space with Overhead
For Sale
$2,500,000
25315 Kean St, Dearborn, MI 48124
Light Industrial property combining warehouse, office, loading, and secured outdoor areas on a corner site.
Property Size15,000 SF
Lot Size0.82 Acres
Price / SF$166.67
Days on Market15
Property Features for 25315 Kean St
General Information
Standard status
Active
Size
15,000 SF
Lot size
0.82 Acres
Zoning
Light Industrial
Site & Location
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Additional Details
Gross Income
$76,800
Drive-In Doors
3
Building Details
Year Built
1980
Buildings
1
Stories
2
Building Size
15,000 SF
Listing Agency:
Own It Realty
(313) 646-7363
Listed By:
Hassan Scheib · License #6502399271
Source:
Katie-k
Added: Aug 17
Changed: Aug 30
Last Checked: Aug 30 at 7:04PM
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 Own It Realty
Investment Insights
Based on property information with market context.
This freestanding flex property contains 15,000 SF of warehouse and office space within a functional industrial layout. The building includes open warehouse areas, private offices, a reception area, and multiple restrooms, with 3 ground-level overhead doors supporting loading and material movement. A second-floor area of approximately 3,300 SF adds room for storage, office expansion, or other specialized functions and has liftgate and overhead access.
The property occupies a fenced 0.82-acre corner lot with paved parking and a secured yard. Light Industrial zoning supports warehousing, engineering, distribution, light manufacturing, contractor operations, and flex industrial uses. The site is near major corridors and is surrounded by Home Depot, McDonald’s, and the Dearborn Heights Police Department. Built in 1980.
The property occupies a fenced 0.82-acre corner lot with paved parking and a secured yard. Light Industrial zoning supports warehousing, engineering, distribution, light manufacturing, contractor operations, and flex industrial uses. The site is near major corridors and is surrounded by Home Depot, McDonald’s, and the Dearborn Heights Police Department. Built in 1980.
Key Highlights
- 15,000 SF freestanding flex and industrial building
- Light Industrial zoning supports warehousing, distribution, manufacturing, and contractor operations
- 3 ground‑level overhead doors for loading access
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
$165,308
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
6.61%
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%
$3,306,160
$3.3M
Cap Rate 7%
$2,361,543
$2.4M
Cap Rate 9%
$1,836,756
$1.8M
Market Conditions
NOI Build-Up for 15,000 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
$284.4K $18.96/SF
− Vacancy
−$64.0K −$4.27/SF
EGI
$220.4K $14.69/SF
− OpEx
−$55.1K −$3.67/SF
NOI
$165.3K $11.02/SF
Area
Dearborn, MI
Vacancy
22.50%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
25.00%
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%
$3,306,160
Cap Rate 7%
$2,361,543
Cap Rate 9%
$1,836,756
Alternative Uses
Best Use
Office B
$2.36M
$2.07M – $2.76M
NOI $165,308 @ 7.0% cap · market cap 6.61%
Second Best
Flex RnD
$1.89M
$1.65M – $2.20M
NOI $131,976 @ 7.0% cap · market cap 5.28%
Theoretical Best
Office A
$3.31M
$2.90M – $3.86M
NOI $231,634 @ 7.0% cap · market cap 9.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Drive-in doors
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
526
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48124, MI
34,134
Population
14,787
Households
2.3
Avg Household Size
39
Median Age
40%
College-Educated
94%
High-School Grad
8.8 sq mi
ZIP Area
3,879
Density / Sq Mi
$78,353
Median Household Income
$49,103
Median Earnings
$1,280
Median Rent
$192,100
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Light Industrial property combining warehouse, office, loading, and secured outdoor areas on a corner site.
Where is this flex space located?
The property is located at 25315 Kean St Dearborn, MI.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 15,000 SF freestanding flex and industrial building; Light Industrial zoning supports warehousing, distribution, manufacturing, and contractor operations; 3 ground‑level overhead doors for loading access
