Two-Story Office
For Sale
$1,599,999
2600 Cochrane St, Detroit, MI 48216
Two-story office building with an open floor plan on both levels and recent windows, roof, and MEP system upgrades.
Property Size12,800 SF
Price / SF$124
Days on Market113
Property Features for 2600 Cochrane St
General Information
Standard status
Active
Size
12,800 SF
Property subtype
Office, Multifamily
Zoning
R2
Building Details
Building Size
12,800 SF
Stories
2
Listing Agency:
Avison Young | Detroit
Listed By:
Sloane Walsh
(313) 209-4126
Source:
Cpix.resimplifi
Added: May 27
Changed: Sep 5
Last Checked: Sep 15 at 4:08AM
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 Avison Young | Detroit
Investment Insights
Based on property information with market context.
This two-story office building offers an open floor plan on both levels, providing flexible space for developers or end users to customize. The current owner has maintained the property and completed updates including new windows, a new roof, and new MEP systems.
The property is located at 2600 Cochrane St in Detroit. The public remarks indicate it is within walking distance of Ford’s new Corktown mobility campus / Michigan Central Station.
With its two-level, open layout and recently installed core building systems, the property is positioned as a straightforward base for interior build-out and occupancy planning.
The property is located at 2600 Cochrane St in Detroit. The public remarks indicate it is within walking distance of Ford’s new Corktown mobility campus / Michigan Central Station.
With its two-level, open layout and recently installed core building systems, the property is positioned as a straightforward base for interior build-out and occupancy planning.
Key Highlights
- Two‑story office building with an open floor plan on both levels
- Recent upgrades include new windows, roof, and MEP systems
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
$134,281
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
8.39%
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%
$2,685,620
$2.7M
Cap Rate 7%
$1,918,300
$1.9M
Cap Rate 9%
$1,492,011
$1.5M
Market Conditions
NOI Build-Up for 12,800 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
$261.1K $20.40/SF
− Vacancy
−$17.0K −$1.33/SF
EGI
$244.1K $19.07/SF
− OpEx
−$109.9K −$8.58/SF
NOI
$134.3K $10.49/SF
Area
Detroit, MI
Vacancy
6.50%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
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%
$2,685,620
Cap Rate 7%
$1,918,300
Cap Rate 9%
$1,492,011
Alternative Uses
Best Use
Apartment 5plus
$1.92M
$1.68M – $2.24M
NOI $134,281 @ 7.0% cap · market cap 8.39%
Second Best
Office B
$1.85M
$1.62M – $2.16M
NOI $129,676 @ 7.0% cap · market cap 8.10%
Theoretical Best
Office A
$2.82M
$2.47M – $3.29M
NOI $197,661 @ 7.0% cap · market cap 12.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
923
Businesses Nearby
Explore this area
Business Placement
Demographics for 48216, MI
5,031
Population
3,398
Households
1.5
Avg Household Size
35
Median Age
37%
College-Educated
87%
High-School Grad
2.3 sq mi
ZIP Area
2,187
Density / Sq Mi
$42,278
Median Household Income
$42,189
Median Earnings
$860
Median Rent
$225,300
Median Home Value
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Market
Vacancy Rate% for Office in Detroit, MI
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Frequently Asked Questions
What type of property is this?
Office building - Two-story office building with an open floor plan on both levels and recent windows, roof, and MEP system upgrades.
Where is this office building located?
The property is located at 2600 Cochrane St Detroit, MI.
What is the asking price?
The asking price for this property is $1,599,999.
What are key features of this property?
This property features: Two‑story office building with an open floor plan on both levels; Recent upgrades include new windows, roof, and MEP systems
