Food Production Flex
For Sale
$2,900,000
4731 Bellevue St, Detroit, MI 48207
Food production building offers two leased suites with shared truckwells and common area access.
Property Size45,662 SF
Price / SF$63.51
Days on Market465
Property Features for 4731 Bellevue St
General Information
Standard status
Active
Size
45,662 SF
Property subtype
Industrial
Zoning
M4
Building Details
Building Size
45,662 SF
Year Built
1963
Year Renovated
2002
Buildings
1
Stories
1
Listing Agency:
Signature Associates - Southfield
Listed By:
Peter Vanderkaay · License #6501388318
(248) 359-3837
Source:
Cpix.resimplifi
Added: May 29, 2025
Changed: Aug 27
Last Checked: Sep 5 at 3:34AM
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 Signature Associates - Southfield
Investment Insights
Based on property information with market context.
Two suites are available for lease in a food production building, totaling 7,648 sq. ft. and 1,860 sq. ft. The suites provide access to shared truckwells and common area.
The property includes secured, covered parking to support day-to-day operations. A tenant improvement allowance is available for qualified tenants.
The building is also being offered for sale.
The property includes secured, covered parking to support day-to-day operations. A tenant improvement allowance is available for qualified tenants.
The building is also being offered for sale.
Key Highlights
- Food production building built in 1963
- Two available lease suites: 7,648 SF and 1,860 SF
- Shared truckwells and access to common areas for both suites
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
$222,086
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
7.66%
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%
$4,441,720
$4.4M
Cap Rate 7%
$3,172,657
$3.2M
Cap Rate 9%
$2,467,622
$2.5M
Market Conditions
NOI Build-Up for 45,662 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
$334.2K $7.32/SF
− Vacancy
−$17.0K −$0.37/SF
EGI
$317.3K $6.95/SF
− OpEx
−$95.2K −$2.08/SF
NOI
$222.1K $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%
$4,441,720
Cap Rate 7%
$3,172,657
Cap Rate 9%
$2,467,622
Alternative Uses
Best Use
Industrial
$3.17M
$2.78M – $3.70M
NOI $222,086 @ 7.0% cap · market cap 7.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.07M
$8.81M – $11.75M
NOI $705,125 @ 7.0% cap · market cap 24.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
418
Businesses Nearby
Explore this area
Business Placement
Demographics for 48207, MI
21,704
Population
13,026
Households
1.7
Avg Household Size
42
Median Age
35%
College-Educated
88%
High-School Grad
6.3 sq mi
ZIP Area
3,445
Density / Sq Mi
$44,561
Median Household Income
$43,377
Median Earnings
$1,040
Median Rent
$193,800
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?
Manufacturing property - Food production building offers two leased suites with shared truckwells and common area access.
Where is this manufacturing property located?
The property is located at 4731 Bellevue St Detroit, MI.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: Food production building built in 1963; Two available lease suites: 7,648 SF and 1,860 SF; Shared truckwells and access to common areas for both suites
