Industrial Warehouse Near
For Sale
$1,499,000
4350 N Oakman Blvd N, Detroit, MI 48204
25000+ sqft warehouse with high ceilings and fenced yard.
Property Size25,132 SF
Lot Size1.11 Acres
Price / SF$59.96
Days on Market144
Property Features for 4350 N Oakman Blvd N
General Information
Standard status
Active
Size
25,132 SF
Lot size
1.11 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$12,522
Building Details
Building Size
25,132 SF
Year Built
1956
Listing Agency:
(313) 930-5550
Listed By:
Sam Ellehaf
(313) 930-5550
Source:
Elliman
Added: Mar 31
Changed: Aug 16
Last Checked: Aug 20 at 7:23AM
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 Sam Ellehaf
Investment Insights
Based on property information with market context.
This industrial warehouse offers over 25,000 square feet of space. The property features high ceilings and a fenced yard. It is located close to the Dearborn area and is currently owner-occupied.
Key Highlights
- Over 25,000 sqft Industrial Warehouse
- High Ceilings
- Fenced Property
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
$121,593
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
8.11%
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%
$2,431,860
$2.4M
Cap Rate 7%
$1,737,043
$1.7M
Cap Rate 9%
$1,351,033
$1.4M
Market Conditions
NOI Build-Up for 25,000 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
$183.0K $7.32/SF
− Vacancy
−$9.3K −$0.37/SF
EGI
$173.7K $6.95/SF
− OpEx
−$52.1K −$2.08/SF
NOI
$121.6K $4.86/SF
Area
Detroit, MI
Vacancy
5.08%
Lease Rate
$7.32 /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%
$2,431,860
Cap Rate 7%
$1,737,043
Cap Rate 9%
$1,351,033
Alternative Uses
Best Use
Warehouse
$2.54M
$2.23M – $2.97M
NOI $178,146 @ 7.0% cap · market cap 11.88%
Second Best
Industrial
$1.74M
$1.52M – $2.03M
NOI $121,593 @ 7.0% cap · market cap 8.11%
Theoretical Best
Office A
$5.52M
$4.83M – $6.43M
NOI $386,057 @ 7.0% cap · market cap 25.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
318
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48204, MI
21,738
Population
13,691
Households
1.6
Avg Household Size
37
Median Age
10%
College-Educated
83%
High-School Grad
5.0 sq mi
ZIP Area
4,348
Density / Sq Mi
$32,875
Median Household Income
$26,701
Median Earnings
$970
Median Rent
$53,600
Median Home Value
Market
Vacancy Rate% for Industrial in Detroit, MI
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - 25000+ sqft warehouse with high ceilings and fenced yard.
Where is this warehouse located?
The property is located at 4350 N Oakman Blvd N Detroit, MI.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: Over 25,000 sqft Industrial Warehouse; High Ceilings; Fenced Property
