Riverfront Flex Warehouse
For Sale
$1,325,000
260 MOUNT ELLIOTT ST, Detroit, MI 48207
Three connected commercial buildings with secured parking and flexible-use space near the Detroit Riverfront.
Property Size18,805 SF
Price / SF$70.46
Days on Market128
Property Features for 260 MOUNT ELLIOTT ST
General Information
Standard status
Active
Size
18,805 SF
Property subtype
Industrial
Amenities
3
Building Details
Year Built
20
Listing Agency:
ARG Realty
(313) 999-3889
Listed By:
Fay Salmaci · License #6501348320
(313) 999-3889
Source:
Xome
Added: Apr 6
Changed: Aug 8
Last Checked: Aug 11 at 4:43AM
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.
Rare riverfront redevelopment and warehouse district opportunity featuring three commercial buildings—260 Mt. Elliott, 266 Mt. Elliott, and 275 Iron—connected and held under the same ownership. The package totals approximately 18,805 square feet and is presented as flexible-use space within a multi-building commercial setting.
The property is positioned near the Detroit Riverfront and described as offering strong visibility and secured parking for on-site operations. A land contract is also available, and the seller notes that all measurements, zoning, and permitted uses require buyer verification.
For buyers considering an owner-user or an investment strategy, the connected configuration allows the buildings to be marketed and operated together as a single package, subject to any buyer diligence and confirmation of uses.
The property is positioned near the Detroit Riverfront and described as offering strong visibility and secured parking for on-site operations. A land contract is also available, and the seller notes that all measurements, zoning, and permitted uses require buyer verification.
For buyers considering an owner-user or an investment strategy, the connected configuration allows the buildings to be marketed and operated together as a single package, subject to any buyer diligence and confirmation of uses.
Key Highlights
- 3 connected commercial buildings: 260 Mt. Elliott, 266 Mt. Elliott, and 275 Iron
- Total of 18,805 SF of flexible‑use commercial space across the connected buildings
- Secured parking on‑site
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
$91,462
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
6.90%
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%
$1,829,240
$1.8M
Cap Rate 7%
$1,306,600
$1.3M
Cap Rate 9%
$1,016,244
$1.0M
Market Conditions
NOI Build-Up for 18,805 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
$137.7K $7.32/SF
− Vacancy
−$7.0K −$0.37/SF
EGI
$130.7K $6.95/SF
− OpEx
−$39.2K −$2.08/SF
NOI
$91.5K $4.86/SF
Area
Detroit, MI
Vacancy
5.08%
Lease Rate
$7.32 /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%
$1,829,240
Cap Rate 7%
$1,306,600
Cap Rate 9%
$1,016,244
Alternative Uses
Best Use
Flex RnD
$1.93M
$1.69M – $2.25M
NOI $134,945 @ 7.0% cap · market cap 10.18%
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
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 - Three connected commercial buildings with secured parking and flexible-use space near the Detroit Riverfront.
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: 3 connected commercial buildings: 260 Mt. Elliott, 266 Mt. Elliott, and 275 Iron; Total of 18,805 SF of flexible‑use commercial space across the connected buildings; Secured parking on‑site
