Wyandotte Warehouse with Storage
For Sale
$1,800,000
Pending
341 Goddard Rd, Wyandotte, MI 48192
Large warehouse with storage facility and expansion opportunity.
Property Size8,000 SF
Lot Size2.29 Acres
Days on Market210
Property Features for 341 Goddard Rd
General Information
Standard status
Pending
Size
8,000 SF
Lot size
2.29 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$16,898
Building Details
Year Built
1950
Units
50
Listing Agency:
National Realty Centers Northv
Listed By:
Wayne Michalak
(313) 999-6728
Source:
Elliman
Added: Mar 10
Changed: Sep 29
Last Checked: Oct 5 at 6:52PM
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 National Realty Centers Northv
Investment Insights
Based on property information with market context.
This large warehouse in Wyandotte has functioned as a self-storage facility for over 20 years, presenting an opportunity to expand the existing storage business. The building features tall ceilings, suitable for adding a mezzanine, and has heavy power capabilities. The roof has been maintained over the years. A long-term tenant currently occupies approximately 8,000 square feet of the building. The property includes an additional lot at 271 Stoll St, which is currently used for outside storage. The property generates approximately $180,000 in gross revenue.
Key Highlights
- Existing self‑storage facility with high occupancy and approximately $180k gross revenue.
- Includes additional lot (271 Stoll St.) for outside storage expansion.
- Long‑term tenant occupying approximately 8,000 SF providing immediate cash flow.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$70,224
Cap Rate
3.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,404,480
$1.4M
Cap Rate 7%
$1,003,200
$1.0M
Cap Rate 9%
$780,267
$780.3K
Market Conditions
NOI Build-Up for 8,000 SF
Gross rent
$105.6K $13.20/SF
− Vacancy
−$5.3K −$0.66/SF
EGI
$100.3K $12.54/SF
− OpEx
−$30.1K −$3.76/SF
NOI
$70.2K $8.78/SF
Area
Wayne County, MI
Vacancy
5.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,404,480
Cap Rate 7%
$1,003,200
Cap Rate 9%
$780,267
Alternative Uses
Best Use
Self Storage
$1.00M
$877.8K – $1.17M
NOI $70,224 @ 7.0% cap · market cap 3.90%
Second Best
Industrial
$591.7K
$517.7K – $690.3K
NOI $41,417 @ 7.0% cap · market cap 2.30%
Theoretical Best
Specialty Retail
$1.48M
$1.30M – $1.73M
NOI $103,680 @ 7.0% cap · market cap 5.76%
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
439
Businesses Nearby
Explore this area
Business Placement
Demographics for 48192, MI
25,058
Population
11,441
Households
2.2
Avg Household Size
42
Median Age
21%
College-Educated
91%
High-School Grad
5.3 sq mi
ZIP Area
4,728
Density / Sq Mi
$67,846
Median Household Income
$42,999
Median Earnings
$995
Median Rent
$159,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Self storage facility - Large warehouse with storage facility and expansion opportunity.
Where is this self storage facility located?
The property is located at 341 Goddard Rd Wyandotte, MI.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Existing self‑storage facility with high occupancy and approximately $180k gross revenue.; Includes additional lot (271 Stoll St.) for outside storage expansion.; Long‑term tenant occupying approximately 8,000 SF providing immediate cash flow.
