Riverfront Flex Warehouse
260 Mount Elliott Street Unit SourceFi Detroit, MI 48207
260 Mount Elliott Street Unit SourceFi, Detroit, MI, 48207
$1,325,000
For Sale
$1,325,000
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 Market108
Property Features for 260 Mount Elliott Street Unit SourceFi
General Information
- Standard status
- Active
- Size
- 18,805 SF
- Property subtype
- Industrial
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 5 Updated: Jul 18 at 2:38AM Checked: Jul 21 at 3:14AM
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
Local 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
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Migracion
Local Government Office
Similar For Sale Nearby
Similar Off Market Nearby
- Your Garage — 711 Helen St, Detroit, MI 48207
FAQs
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 Street Unit SourceFi 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
