Commercial Warehouse with Office
For Sale
$1,750,000
4210 13th Street, Wyandotte, MI 48192
Spacious warehouse with office, ample parking, and solar panels.
Property Size21,075 SF
Price / SF$83.33
Days on Market122
Property Features for 4210 13th Street
General Information
Standard status
Active
Size
21,075 SF
Property subtype
Commercial
Zoning
Commercial, Heavy Industry, Light Indust
Taxes and HOA fees
Annual Taxes
$13,420
Building Details
Building Size
21,075 SF
Year Built
1970
Listing Agency:
Jason Mitchell Real Estate Group Michigan LLC
(734) 365-3334
Listed By:
Christos Filyo
(734) 365-3334
Source:
Phgrealty
Added: Apr 24
Changed: Aug 23
Last Checked: Aug 23 at 8:07AM
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 Jason Mitchell Real Estate Group Michigan LLC
Investment Insights
Based on property information with market context.
This commercial property features a warehouse with attached office space. The office area measures 2,200 square feet, contributing to a total area exceeding 21,000 square feet. The property includes 75 parking spots. An updated roof is equipped with solar panels for energy efficiency. The location provides convenient access. According to walkscore.com, the walk score is 71, indicating that the area is very walkable. The bike score is 51, indicating that the area is bikeable. The property is suitable for a variety of business needs.
Key Highlights
- Spacious Commercial Warehouse: Over 21,000 total square feet including 2,200 square feet of office space.
- Excellent Location: Convenient access for operations.
- Ample Parking: 75 parking spots.
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
$132,016
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
7.54%
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%
$2,640,320
$2.6M
Cap Rate 7%
$1,885,943
$1.9M
Cap Rate 9%
$1,466,844
$1.5M
Market Conditions
NOI Build-Up for 21,000 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
$161.3K $7.68/SF
− Vacancy
−$6.0K −$0.28/SF
EGI
$155.3K $7.40/SF
− OpEx
−$23.3K −$1.11/SF
NOI
$132.0K $6.29/SF
Area
Wayne County, MI
Vacancy
3.70%
Lease Rate
$7.68 /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%
$2,640,320
Cap Rate 7%
$1,885,943
Cap Rate 9%
$1,466,844
Alternative Uses
Best Use
Warehouse
$1.89M
$1.65M – $2.20M
NOI $132,016 @ 7.0% cap · market cap 7.54%
Second Best
Industrial
$1.55M
$1.36M – $1.81M
NOI $108,719 @ 7.0% cap · market cap 6.21%
Theoretical Best
Specialty Retail
$3.89M
$3.40M – $4.54M
NOI $272,160 @ 7.0% cap · market cap 15.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
260
Businesses Nearby
Balanced
Demand for This Use
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - Spacious warehouse with office, ample parking, and solar panels.
Where is this warehouse located?
The property is located at 4210 13th Street Wyandotte, MI.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Spacious Commercial Warehouse: Over 21,000 total square feet including 2,200 square feet of office space.; Excellent Location: Convenient access for operations.; Ample Parking: 75 parking spots.
