Freestanding Flex
465 S Schaefer, Detroit, MI
For Sale
$799,999
Shell-condition space with an overhead door and on-site parking offers a configurable footprint for commercial operations.
Property Size7,500 SF
Price / SF$106.67
Days on Market83
Property Features for 465 S Schaefer
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Site & Location
Neighborhood
Corner Location
Highway Access
Road Access
Amenities
overhead door
Building Details
Buildings
Building Size
Listing Agency:
Got Key'd Realty
(313) 228-5710
Listed By:
Simon Saleh · License MI #427828
(248) 635-2880
Source:
Jabachler
Added: Aug 24
Changed: Nov 11
Last Checked: Nov 12 at 11:44PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This freestanding flex property contains 7,500 SF and is in shell condition, allowing the interior to be configured for a future operation. An overhead door supports loading or vehicle access, and approximately 25 newly paved parking spaces serve the site. The parcel occupies a corner at Schaefer Highway and Oakwood Boulevard, with frontage on both streets.
The property is directly across from the Marathon Petroleum Refinery and sits between I-75 and I-94, with access to I-96. Downtown Detroit is a 12-minute drive, and the site is near Dearborn and Melvindale. Potential applications identified for the property include warehousing, manufacturing, distribution, showroom, and automotive uses; retail is subject to municipal approval.
The property is directly across from the Marathon Petroleum Refinery and sits between I-75 and I-94, with access to I-96. Downtown Detroit is a 12-minute drive, and the site is near Dearborn and Melvindale. Potential applications identified for the property include warehousing, manufacturing, distribution, showroom, and automotive uses; retail is subject to municipal approval.
Key Highlights
- 7,500 SF freestanding flex building in shell condition
- Approximately 25 newly paved parking spaces
- Overhead door
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,820
Cap Rate
6.73%
Suggested Prices Based on Cap Rates
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
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 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 $115,817 @ 7.0% cap · market cap 14.48%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
4,556
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Market
Average Price Trend$/SF for Flex space in Detroit, MI
Properties on Market for Flex space in Detroit
Vacancy Rate% for Industrial in Detroit, MI
Similar Off Market Nearby
- Slows To Go — 4107 Cass Ave, Detroit, MI 48201
- Majestic Catering — 4120-4140 Woodward Ave, Detroit, MI 48201
Frequently Asked Questions
What type of property is this?
Flex space - Shell-condition space with an overhead door and on-site parking offers a configurable footprint for commercial operations.
Where is this flex space located?
The property is located at 465 S Schaefer 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 SF freestanding flex building in shell condition; Approximately 25 newly paved parking spaces; Overhead door
