Versatile Industrial/Retail/Warehouse Space
3708 W Eleven Mile Rd Berkley, MI 48072
For Sale
$525,000
Two units on one parcel suitable for industrial, retail, warehouse.
Property Size6,024 SF
Price / SF$87.15
Days on Market116
Property Features for 3708 W Eleven Mile Rd
General Information
- Standard status
- Active
- Size
- 6,024 SF
- Property subtype
- Industrial, Retail
Building Details
- Year Built
- 1940
Listing Agency:
Insite Commercial
(248) 359-9000
Listed By:
Brent Lubin
(248) 359-9000
Source:
Cpix.resimplifi
Added: Mar 31
Changed: Jul 10
Last Checked: Jul 23 at 2:34AM
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 For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $44.3k | $7.35 |
| − Vacancy | −$1.6k | −$0.27 |
| EGI | $42.6k | $7.08 |
| − OpEx | −$6.4k | −$1.06 |
| NOI | $36.2k | $6.02 |
6,024 SF · lease $7.35/SF/yr · vacancy 3.70% · expense 15.00%
Alternative Uses
Best Use
Flex RnD
$890.1K
$778.8K – $1.04M
NOI $62,305 @ 7.0% cap · market cap 11.87%
Second Best
Warehouse
$517.7K
$453.0K – $604.0K
NOI $36,242 @ 7.0% cap · market cap 6.90%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Flex space
Similar Off Market Nearby
- Like Family Homestyle Catering — 25900 Greenfield Rd #326, Oak Park, MI 48237
- Bloom's Kosher Carryout and Catering — 15280 Lincoln St, Oak Park, MI 48237
- Little Lou's Hot Chicken — 2626 Coolidge Hwy, Berkley, MI 48072
- ALIA'S CATERING — 27167 Greenfield Rd, Southfield, MI 48076
FAQs
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
