Versatile Industrial/Retail/Warehouse Space
For Sale
$525,000
3708 W Eleven Mile Rd, Berkley, MI 48072
Two units on one parcel suitable for industrial, retail, warehouse.
Property Size6,024 SF
Price / SF$87.15
Days on Market162
Property Features for 3708 W Eleven Mile Rd
General Information
Standard status
Active
Size
6,024 SF
Property subtype
Industrial, Retail
Zoning
Industrial/Retail
Building Details
Building Size
6,024 SF
Year Built
1940
Buildings
1
Stories
1
Tenancy
Multi-Tenant
Listing Agency:
Insite Commercial
Listed By:
Brent Lubin
(248) 359-9000
Source:
Cpix.resimplifi
Added: Mar 31
Changed: Aug 20
Last Checked: Sep 7 at 4:49AM
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 Insite Commercial
Investment Insights
Based on property information with market context.
This property features two units situated on a single parcel, offering flexibility for various business operations. Each unit is equipped with a 14-foot overhead door, facilitating easy access for loading and unloading. The property's location on a main road provides high visibility and accessibility. The space is suitable for industrial, retail, or warehouse use, accommodating a range of business needs. The total property size is 6024 square feet.
Key Highlights
- Two units on one parcel
- 14' overhead doors in both units
- Main road positioning
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
$29,847
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
5.69%
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%
$596,940
$596.9K
Cap Rate 7%
$426,386
$426.4K
Cap Rate 9%
$331,633
$331.6K
Market Conditions
NOI Build-Up for 6,024 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
$44.3K $7.35/SF
− Vacancy
−$1.6K −$0.27/SF
EGI
$42.6K $7.08/SF
− OpEx
−$12.8K −$2.12/SF
NOI
$29.8K $4.95/SF
Area
Oakland County, MI
Vacancy
3.70%
Lease Rate
$7.35 /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%
$596,940
Cap Rate 7%
$426,386
Cap Rate 9%
$331,633
Alternative Uses
Best Use
Flex RnD
$890.1K
$778.8K – $1.04M
NOI $62,305 @ 7.0% cap · market cap 11.87%
Second Best
Industrial
$426.4K
$373.1K – $497.5K
NOI $29,847 @ 7.0% cap · market cap 5.69%
Theoretical Best
Specialty Retail
$1.30M
$1.14M – $1.52M
NOI $90,953 @ 7.0% cap · market cap 17.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
663
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48072, MI
15,194
Population
7,068
Households
2.1
Avg Household Size
38
Median Age
58%
College-Educated
99%
High-School Grad
2.4 sq mi
ZIP Area
6,331
Density / Sq Mi
$113,103
Median Household Income
$68,818
Median Earnings
$1,436
Median Rent
$289,200
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Two units on one parcel suitable for industrial, retail, warehouse.
Where is this flex space located?
The property is located at 3708 W Eleven Mile Rd Berkley, MI.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Two units on one parcel; 14' overhead doors in both units; Main road positioning
