Turnkey Brick Office
For Sale
$405,000
4621 & 4615 S Wayne Road, Wayne, MI 48184
Updated brick office building with private offices, conference rooms, and multiple restrooms, offered with turnkey readiness.
Property Size6,240 SF
Price / SF$64.90
Days on Market266
Property Features for 4621 & 4615 S Wayne Road
General Information
Standard status
Active
Size
6,240 SF
Property subtype
Industrial
Zoning
B3
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Business Included
Yes
Amenities
3
Rubber
70124.8
Building Details
Year Built
19
Listing Agency:
J Dillon Realty
(734) 777-4448
Listed By:
Joshua Dillon · License #6502417067
(734) 777-4448
Source:
Xome
Added: Nov 16, 2025
Changed: Aug 7
Last Checked: Aug 9 at 5:32AM
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 J Dillon Realty
Investment Insights
Based on property information with market context.
This updated brick office building offers turnkey readiness for a professional operation. The layout includes 9 private executive offices, multiple conference rooms, a welcoming lobby with receptionist station, an open common work area, and a dedicated lounge/dining space for staff. Additional improvements include multiple restrooms, a large storage or file/archive room, updated lighting, and newer flooring.
The property is positioned along the high-visibility S Wayne Rd commercial corridor and is minutes from I-275, I-94, and Michigan Ave, with access to Metro Detroit. It is also approximately 10 minutes from Detroit Metro Airport (DTW). Ample onsite parking and main road frontage support convenient client and staff access.
The building uses two combined addresses, 4615 and 4621 S Wayne Rd, which can support flexible internal configuration for multi-department separation or collaboration zones. Currently zoned B3, the property is well suited for medical, legal, financial, administrative, call center, creative agency, or other professional service uses.
The property is positioned along the high-visibility S Wayne Rd commercial corridor and is minutes from I-275, I-94, and Michigan Ave, with access to Metro Detroit. It is also approximately 10 minutes from Detroit Metro Airport (DTW). Ample onsite parking and main road frontage support convenient client and staff access.
The building uses two combined addresses, 4615 and 4621 S Wayne Rd, which can support flexible internal configuration for multi-department separation or collaboration zones. Currently zoned B3, the property is well suited for medical, legal, financial, administrative, call center, creative agency, or other professional service uses.
Key Highlights
- 6,240 sq. ft. brick office building with updated interiors and rubber roof
- Floor plan includes 9 private executive offices, multiple conference rooms, and a receptionist‑style lobby
- Dedicated lounge/dining space plus open cubicle/common work area for team collaboration
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
$21,481
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
5.30%
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%
$429,620
$429.6K
Cap Rate 7%
$306,871
$306.9K
Cap Rate 9%
$238,678
$238.7K
Market Conditions
NOI Build-Up for 6,240 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
$37.4K $6.00/SF
− Vacancy
−$8.8K −$1.41/SF
EGI
$28.6K $4.59/SF
− OpEx
−$7.2K −$1.15/SF
NOI
$21.5K $3.44/SF
Area
Wayne County, MI
Vacancy
23.50%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
25.00%
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%
$429,620
Cap Rate 7%
$306,871
Cap Rate 9%
$238,678
Alternative Uses
Best Use
Healthcare Medical
$938.7K
$821.4K – $1.10M
NOI $65,711 @ 7.0% cap · market cap 16.22%
Second Best
Office B
$306.9K
$268.5K – $358.0K
NOI $21,481 @ 7.0% cap · market cap 5.30%
Theoretical Best
Specialty Retail
$1.16M
$1.01M – $1.35M
NOI $80,870 @ 7.0% cap · market cap 19.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
513
Businesses Nearby
Explore this area
Business Placement
Demographics for 48184, MI
17,776
Population
7,739
Households
2.3
Avg Household Size
40
Median Age
16%
College-Educated
88%
High-School Grad
7.2 sq mi
ZIP Area
2,469
Density / Sq Mi
$54,572
Median Household Income
$36,548
Median Earnings
$924
Median Rent
$142,400
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Updated brick office building with private offices, conference rooms, and multiple restrooms, offered with turnkey readiness.
Where is this office building located?
The property is located at 4621 & 4615 S Wayne Road Wayne, MI.
What is the asking price?
The asking price for this property is $405,000.
What are key features of this property?
This property features: 6,240 sq. ft. brick office building with updated interiors and rubber roof; Floor plan includes 9 private executive offices, multiple conference rooms, and a receptionist‑style lobby; Dedicated lounge/dining space plus open cubicle/common work area for team collaboration
