Riverfront Warehouse District Redevelopment
For Sale
$1,325,000
260 Mount Elliott St, Detroit, MI 48207
Unique commercial package in rapidly developing Detroit Riverfront area.
Property Size18,805 SF
Price / SF$70.46
Days on Market98
Property Features for 260 Mount Elliott St
General Information
Standard status
Active
Size
18,805 SF
Property subtype
Commercial
Building Details
Year Built
2003
Listing Agency:
ARG Realty
(313) 792-8030
Listed By:
Qassim Al-Omairi · License #6501348320
(313) 792-8030
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Jul 30 at 7:02AM
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 ARG Realty
Investment Insights
Based on property information with market context.
This commercial package offers a redevelopment opportunity in the Riverfront/Warehouse District. The package includes multiple connected buildings at 260 Mt. Elliott, 266 Mt. Elliott, and 275 Iron, all under the same ownership. The property features strong visibility, secured parking, and flexible-use space. It is located in a rapidly developing area near the Detroit Riverfront. The location has a bike score of 88, indicating it is very bikeable, a walk score of 66, indicating it is somewhat walkable, and a transit score of 50, indicating good transit options. The site is ideal for owner-users, investors, or redevelopment. The package includes three commercial buildings totaling approximately 18,805 square feet. Land contract is available.
Key Highlights
- Rare Riverfront/Warehouse District redevelopment opportunity.
- Multiple connected buildings totaling 18,805 square feet.
- Located in a rapidly developing area near the Detroit Riverfront.
Financial Insights For Industrial
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 | $137.7k | $7.32 |
| − Vacancy | −$7.0k | −$0.37 |
| EGI | $130.7k | $6.95 |
| − OpEx | −$39.2k | −$2.08 |
| NOI | $91.5k | $4.86 |
18,805 SF · lease $7.32/SF/yr · vacancy 5.08% · expense 30.00%
Alternative Uses
Best Use
Mixed Use
$3.19M
$2.79M – $3.72M
NOI $223,403 @ 7.0% cap · market cap 16.86%
Second Best
Warehouse
$1.91M
$1.68M – $2.23M
NOI $134,001 @ 7.0% cap · market cap 10.11%
Theoretical Best
Office A
$4.15M
$3.63M – $4.84M
NOI $290,392 @ 7.0% cap · market cap 21.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
804
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48207, MI
21,704
Population
13,026
Households
1.7
Avg Household Size
42
Median Age
35%
College-Educated
88%
High-School Grad
6.3 sq mi
ZIP Area
3,445
Density / Sq Mi
$44,561
Median Household Income
$43,377
Median Earnings
$1,040
Median Rent
$193,800
Median Home Value
Market
Properties on Market for Warehouses in Wayne County
Vacancy Rate% for Industrial in Detroit, MI
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Your Garage — 711 Helen St, Detroit, MI 48207
Frequently Asked Questions
What type of property is this?
Warehouse - Unique commercial package in rapidly developing Detroit Riverfront area.
Where is this warehouse located?
The property is located at 260 Mount Elliott St Detroit, MI.
What is the asking price?
The asking price for this property is $1,325,000.
What are key features of this property?
This property features: Rare Riverfront/Warehouse District redevelopment opportunity.; Multiple connected buildings totaling 18,805 square feet.; Located in a rapidly developing area near the Detroit Riverfront.
