Freestanding Flex
For Sale
Contact for pricing
27400-27432 Northline Road, Romulus, MI 48174
Freestanding industrial facility with shop, finished office areas, controlled temperature, and secured outdoor storage capacity.
Property Size13,055 SF
Price / SF$103.41
Days on Market9
Property Features for 27400-27432 Northline Road
General Information
Standard status
Active
Size
13,055 SF
Total Parking Spaces
12
Property subtype
Industrial
Zoning
M-1
Lease Type
NNN
Site & Location
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Utilities to Site
Yes
Warehouse & Industrial
Clear Height
16 ft
Warehouse Space
9,000 SF
Office Build-Out
4,055 SF
Drive-In Doors
2
Power
200 amps
Voltage
480 V
Three-Phase Power
Yes
Amenities
solar panels
fenced lot
temperature controlled
Building Details
Year Built
1984
Year Renovated
2014
Buildings
1
Stories
2
Building Size
13,055 SF
Listing Agency:
Signature Associates
(248) 359-0623
Listed By:
Alex Timmis · License #MI 6501421748
Source:
Crexi
Added: Aug 1
Changed: Aug 9
Last Checked: Aug 9 at 10:59AM
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 Signature Associates
Investment Insights
Based on property information with market context.
This freestanding flex property provides 13,055 square feet arranged around a 9,000-square-foot shop, 1,800 square feet of first-floor office, and 2,255 square feet of finished second-floor office. The first-floor office has epoxy flooring, while the upper office area is temperature controlled. A 16-foot clear height and two grade-level doors measuring 12 feet by 14 feet support warehouse operations and material movement.
The property is positioned at the corner of Northline Road and Inkster Road in Romulus, Michigan. Its electrical service includes 200 amps, 480 volts, and three-phase power, with solar panels also installed. A fully fenced rear lot provides additional area for parking or material storage. Built in 1984, the property is zoned M-1.
The property is positioned at the corner of Northline Road and Inkster Road in Romulus, Michigan. Its electrical service includes 200 amps, 480 volts, and three-phase power, with solar panels also installed. A fully fenced rear lot provides additional area for parking or material storage. Built in 1984, the property is zoned M-1.
Key Highlights
- 13,055‑square‑foot flex facility with 9,000 square feet of shop space
- 1,800 SF of first‑floor office and 2,255 SF of finished second‑floor office
- 16' clear height with (2) 12' x 14' grade‑level doors
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
$82,372
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
6.10%
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%
$1,647,440
$1.6M
Cap Rate 7%
$1,176,743
$1.2M
Cap Rate 9%
$915,244
$915.2K
Market Conditions
NOI Build-Up for 13,055 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
$131.6K $10.08/SF
− Vacancy
−$4.9K −$0.37/SF
EGI
$126.7K $9.71/SF
− OpEx
−$44.4K −$3.40/SF
NOI
$82.4K $6.31/SF
Area
Wayne County, MI
Vacancy
3.70%
Lease Rate
$10.08 /SF/Yr
Expense Ratio
35.00%
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%
$1,647,440
Cap Rate 7%
$1,176,743
Cap Rate 9%
$915,244
Alternative Uses
Best Use
Flex RnD
$1.18M
$1.03M – $1.37M
NOI $82,372 @ 7.0% cap · market cap 6.10%
Second Best
Warehouse
$1.17M
$1.03M – $1.37M
NOI $82,070 @ 7.0% cap · market cap 6.08%
Theoretical Best
Specialty Retail
$2.42M
$2.11M – $2.82M
NOI $169,193 @ 7.0% cap · market cap 12.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
16 ft
Clear height
2
Drive-in doors
Yes
Fenced yard
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
79
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48174, MI
33,683
Population
13,124
Households
2.6
Avg Household Size
38
Median Age
17%
College-Educated
89%
High-School Grad
40.8 sq mi
ZIP Area
826
Density / Sq Mi
$65,675
Median Household Income
$41,186
Median Earnings
$1,053
Median Rent
$151,500
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Freestanding industrial facility with shop, finished office areas, controlled temperature, and secured outdoor storage capacity.
Where is this flex space located?
The property is located at 27400-27432 Northline Road Romulus, MI.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 13,055‑square‑foot flex facility with 9,000 square feet of shop space; 1,800 SF of first‑floor office and 2,255 SF of finished second‑floor office; 16' clear height with (2) 12' x 14' grade‑level doors
