Renovated Flex
New
For Sale
$229,555
26310 W 7 Mile Road, Redford, MI 48240
Updated commercial building with office areas and a warehouse component arranged for front-and-back operations.
Property Size3,200 SF
Days on Market2
Property Features for 26310 W 7 Mile Road
General Information
Standard status
Active
Size
3,200 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$4,575
Building Details
Building Size
3,200 SF
Year Built
1956
Listing Agency:
Keller Williams Professionals
Listed By:
Megan Leach
(734) 674-7805
Source:
Elliman
Added: Sep 16
Last Checked: Sep 16 at 2:42PM
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 Keller Williams Professionals
Investment Insights
Based on property information with market context.
Built in 1956, this flex property combines renovated office and warehouse areas within a commercial building. Interior and exterior improvements include new commercial carpet in the offices, heavy-duty tile in common areas, and tiled bathrooms. The layout supports front and back operations within one connected facility, while the warehouse portion is presented as a vanilla-box area for future customization.
The property is located at 26310 W 7 Mile Road in Redford Charter Township, Michigan. Walk Score is 76, classified as Very Walkable, and Bike Score is 50, classified as Bikeable.
The property is located at 26310 W 7 Mile Road in Redford Charter Township, Michigan. Walk Score is 76, classified as Very Walkable, and Bike Score is 50, classified as Bikeable.
Key Highlights
- Renovated commercial building with updated interior and exterior finishes
- Built in 1956
- Office areas feature new commercial carpet
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
$15,564
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
6.78%
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%
$311,280
$311.3K
Cap Rate 7%
$222,343
$222.3K
Cap Rate 9%
$172,933
$172.9K
Market Conditions
NOI Build-Up for 3,200 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
$23.4K $7.32/SF
− Vacancy
−$1.2K −$0.37/SF
EGI
$22.2K $6.95/SF
− OpEx
−$6.7K −$2.08/SF
NOI
$15.6K $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%
$311,280
Cap Rate 7%
$222,343
Cap Rate 9%
$172,933
Alternative Uses
Best Use
Flex RnD
$328.0K
$287.0K – $382.7K
NOI $22,963 @ 7.0% cap · market cap 10.00%
Second Best
Warehouse
$325.8K
$285.0K – $380.1K
NOI $22,803 @ 7.0% cap · market cap 9.93%
Theoretical Best
Office A
$705.9K
$617.7K – $823.6K
NOI $49,415 @ 7.0% cap · market cap 21.53%
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
332
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48240, MI
17,962
Population
7,328
Households
2.5
Avg Household Size
38
Median Age
22%
College-Educated
89%
High-School Grad
3.7 sq mi
ZIP Area
4,855
Density / Sq Mi
$57,970
Median Household Income
$37,694
Median Earnings
$1,326
Median Rent
$120,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - Updated commercial building with office areas and a warehouse component arranged for front-and-back operations.
Where is this flex space located?
The property is located at 26310 W 7 Mile Road Redford, MI.
What is the asking price?
The asking price for this property is $229,555.
What are key features of this property?
This property features: Renovated commercial building with updated interior and exterior finishes; Built in 1956; Office areas feature new commercial carpet
