Versatile Retail/Industrial/Warehouse Space
For Sale
$975,000
3750 W Eleven Mile Rd, Berkley, MI 48072
Adaptable commercial space suitable for retail, industrial, or warehouse use.
Property Size12,640 SF
Price / SF$77.14
Days on Market162
Property Features for 3750 W Eleven Mile Rd
General Information
Standard status
Active
Size
12,640 SF
Property subtype
Industrial, Retail
Zoning
Industrial/Retail
Building Details
Building Size
12,640 SF
Year Built
1935
Buildings
1
Stories
1
Listing Agency:
Insite Commercial
Listed By:
Brent Lubin
(248) 359-9000
Source:
Cpix.resimplifi
Added: Mar 31
Changed: Aug 24
Last Checked: Sep 7 at 4:44AM
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 commercial property offers a versatile space suitable for retail, industrial, or warehouse operations. The building features two overhead doors, each measuring 16 feet in height. The electrical system provides 204V/800A. The property includes a gravel lot with concrete approaches and ample parking space. The warehouse is heated. The roof is 15 years old. The property has a size of 12640 square feet.
Key Highlights
- Versatile Usage: Suitable for retail, industrial, or warehouse purposes.
- High Power Electrical: 204V/800A electrical service.
- Heated Warehouse: Provides climate control for storage or operations.
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
$76,047
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
7.80%
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%
$1,520,940
$1.5M
Cap Rate 7%
$1,086,386
$1.1M
Cap Rate 9%
$844,967
$845.0K
Market Conditions
NOI Build-Up for 12,640 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
$92.9K $7.35/SF
− Vacancy
−$3.4K −$0.27/SF
EGI
$89.5K $7.08/SF
− OpEx
−$13.4K −$1.06/SF
NOI
$76.0K $6.02/SF
Area
Oakland County, MI
Vacancy
3.70%
Lease Rate
$7.35 /SF/Yr
Expense Ratio
15.00%
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%
$1,520,940
Cap Rate 7%
$1,086,386
Cap Rate 9%
$844,967
Alternative Uses
Best Use
Warehouse
$1.09M
$950.6K – $1.27M
NOI $76,047 @ 7.0% cap · market cap 7.80%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.73M
$2.39M – $3.18M
NOI $190,844 @ 7.0% cap · market cap 19.57%
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Southfield Self Storage — 26799 Greenfield Rd, Southfield, MI 48076
- Harding Self Storage — Raine St, Oak Park, MI 48237
- Pie Place Ventures — 26660 Greenfield Rd, Oak Park, MI 48237
- 1-800-Self-Storage.com — 26660 Greenfield Rd, Oak Park, MI 48237
- The Warehouse Storage — 14701 W Eleven Mile Rd, Oak Park, MI 48237
Frequently Asked Questions
What type of property is this?
Warehouse - Adaptable commercial space suitable for retail, industrial, or warehouse use.
Where is this warehouse located?
The property is located at 3750 W Eleven Mile Rd Berkley, MI.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Versatile Usage: Suitable for retail, industrial, or warehouse purposes.; High Power Electrical: 204V/800A electrical service.; Heated Warehouse: Provides climate control for storage or operations.
