Industrial Flex Space with Overhead
New
For Sale
$799,999
465 S Schaefer Highway, Detroit, MI 48217
Shell-condition space offers a customizable interior and M-4 intensive industrial zoning.
Property Size7,500 SF
Price / SF$106.67
Days on Market2
Property Features for 465 S Schaefer Highway
General Information
Standard status
Active
Size
7,500 SF
Total Parking Spaces
25
Zoning
M-4
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
7,500 SF
Listing Agency:
Got Key'D Realty
(313) 228-5710
Listed By:
Simon Saleh · License #MI427828
(248) 635-2880
Source:
Charterpropertiesgr
Added: Sep 24
Last Checked: Sep 24 at 2:52PM
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 Got Key'D Realty
Investment Insights
Based on property information with market context.
This freestanding flex property contains 7,500 square feet and is in shell condition, allowing the interior to be configured by a future occupant. An overhead door serves the building, and approximately 25 parking spaces have been newly paved. The parcel occupies the corner of Schaefer Highway and Oakwood Boulevard, with frontage on both roads. Zoning is M-4, designated for intensive industrial use; retail use is subject to municipal approval.
The property is directly across from the Marathon Petroleum Refinery and is positioned between I-75 and I-94, with access to I-96. The Ford Rouge Complex and Downtown Detroit are nearby, and the site is 12 minutes from downtown. The Gordie Howe International Bridge is also identified as an access point from I-75.
The property is directly across from the Marathon Petroleum Refinery and is positioned between I-75 and I-94, with access to I-96. The Ford Rouge Complex and Downtown Detroit are nearby, and the site is 12 minutes from downtown. The Gordie Howe International Bridge is also identified as an access point from I-75.
Key Highlights
- 7,500‑square‑foot freestanding flex building in shell condition
- M‑4 zoning: Intensive Industrial District
- Approximately 25 newly paved parking spaces and an overhead door
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
$53,820
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
6.73%
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%
$1,076,400
$1.1M
Cap Rate 7%
$768,857
$768.9K
Cap Rate 9%
$598,000
$598.0K
Market Conditions
NOI Build-Up for 7,500 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
$90.0K $12.00/SF
− Vacancy
−$7.2K −$0.96/SF
EGI
$82.8K $11.04/SF
− OpEx
−$29.0K −$3.86/SF
NOI
$53.8K $7.18/SF
Area
Detroit, MI
Vacancy
8.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
35.00%
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%
$1,076,400
Cap Rate 7%
$768,857
Cap Rate 9%
$598,000
Alternative Uses
Best Use
Flex RnD
$768.9K
$672.8K – $897.0K
NOI $53,820 @ 7.0% cap · market cap 6.73%
Second Best
Warehouse
$763.5K
$668.1K – $890.7K
NOI $53,444 @ 7.0% cap · market cap 6.68%
Theoretical Best
Office A
$1.65M
$1.45M – $1.93M
NOI $115,817 @ 7.0% cap · market cap 14.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
309
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48217, MI
6,437
Population
3,071
Households
2.1
Avg Household Size
41
Median Age
12%
College-Educated
87%
High-School Grad
2.3 sq mi
ZIP Area
2,799
Density / Sq Mi
$46,671
Median Household Income
$33,727
Median Earnings
$1,083
Median Rent
$45,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Detroit, MI
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Shell-condition space offers a customizable interior and M-4 intensive industrial zoning.
Where is this flex space located?
The property is located at 465 S Schaefer Highway Detroit, MI.
What is the asking price?
The asking price for this property is $799,999.
What are key features of this property?
This property features: 7,500‑square‑foot freestanding flex building in shell condition; M‑4 zoning: Intensive Industrial District; Approximately 25 newly paved parking spaces and an overhead door
