Distribution Warehouse with Loading
5151 & 5171 Miller Rd, Dearborn, MI 48126
For Sale
New
$2,699,000
Operating businesses occupy a multi-tenant industrial property with office and warehouse components.
Property Size16,000 SF
Lot Size3.00 Acres
Price / SF$168.69
Days on Market6
Property Features for 5151 & 5171 Miller Rd
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Site & Location
Neighborhood
Highway Access
Tenancy & Operations
Currently Operating
Tenant in Place
Additional Details
Property Use
Building Details
Year Built
Building Size
Listing Agency:
RE/MAX Leading Edge
Listed By:
Sam Jaafar · License MI #6501379437
(313) 995-2600
Source:
Vmrealestatemichigan
Added: Nov 8
Changed: Nov 10
Last Checked: Nov 10 at 2:14PM
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 RE/MAX Leading Edge
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This industrial property includes approximately 16,000 square feet of building space across a site of about 3 acres. Its warehouse facilities have multiple dock-height loading positions, overhead roll-up doors, and unloading ramps. Office areas, restrooms, and private parking are also on site, and additional occupied warehouse space is not pictured. Businesses are currently operating at the property.
The site is in an industrial-commercial district in Dearborn, near major freeways, principal roadways, and the Michigan Avenue business corridor. The property information identifies potential applications including warehousing, trucking, transportation, distribution, manufacturing, contractor operations, equipment storage, and multi-tenant industrial use.
The site is in an industrial-commercial district in Dearborn, near major freeways, principal roadways, and the Michigan Avenue business corridor. The property information identifies potential applications including warehousing, trucking, transportation, distribution, manufacturing, contractor operations, equipment storage, and multi-tenant industrial use.
Key Highlights
- Approximately 16,000 square feet of building space on about 3 acres
- Multiple dock‑height loading positions, overhead doors, and unloading ramps
- Office areas, restrooms, and extensive private parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$100,061
Cap Rate
3.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,001,220
$2.0M
Cap Rate 7%
$1,429,443
$1.4M
Cap Rate 9%
$1,111,789
$1.1M
Market Conditions
NOI Build-Up for 16,000 SF
Gross rent
$122.9K $7.68/SF
− Vacancy
−$5.2K −$0.32/SF
EGI
$117.7K $7.36/SF
− OpEx
−$17.7K −$1.10/SF
NOI
$100.1K $6.25/SF
Area
Dearborn, MI
Vacancy
4.20%
Lease Rate
$7.68 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,001,220
Cap Rate 7%
$1,429,443
Cap Rate 9%
$1,111,789
Alternative Uses
Best Use
Warehouse
$1.43M
$1.25M – $1.67M
NOI $100,061 @ 7.0% cap · market cap 3.71%
Second Best
Industrial
$1.34M
$1.17M – $1.56M
NOI $93,893 @ 7.0% cap · market cap 3.48%
Theoretical Best
Office A
$3.53M
$3.09M – $4.12M
NOI $247,076 @ 7.0% cap · market cap 9.15%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,219
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48126, MI
55,863
Population
16,919
Households
3.3
Avg Household Size
28
Median Age
24%
College-Educated
74%
High-School Grad
8.4 sq mi
ZIP Area
6,650
Density / Sq Mi
$42,353
Median Household Income
$27,724
Median Earnings
$1,222
Median Rent
$200,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Warehouses in Wayne County, MI
Properties on Market for Warehouses in Wayne County
Vacancy Rate% for Industrial in Midwest region
Similar Off Market Nearby
- ABW Self Storage Unit — 5286 Williamson St, Dearborn, MI 48126
Frequently Asked Questions
What type of property is this?
Warehouse - Operating businesses occupy a multi-tenant industrial property with office and warehouse components.
Where is this warehouse located?
The property is located at 5151 & 5171 Miller Rd Dearborn, MI.
What is the asking price?
The asking price for this property is $2,699,000.
What are key features of this property?
This property features: Approximately 16,000 square feet of building space on about 3 acres; Multiple dock‑height loading positions, overhead doors, and unloading ramps; Office areas, restrooms, and extensive private parking
