Industrial
For Sale
$275,000
521 E 7 Mile, Highland Park, MI 48203
The secured premises have operational mechanical systems.
Property Size3,100 SF
Price / SF$88.71
Days on Market760
Property Features for 521 E 7 Mile
General Information
Standard status
Active
Size
3,100 SF
Property subtype
Commercial/Industrial
Zoning
Commercial,Industrial
Listing Agency:
Herbert J Hill Realty Real Estate Master
(313) 341-2656
Listed By:
Herbert Hill Jr · License #6504381646
(313) 587-9707
Source:
Jabachler
Added: Oct 2, 2024
Changed: Oct 27
Last Checked: Oct 27 at 3:18AM
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 Herbert J Hill Realty Real Estate Master
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 industrial property contains 3100 square feet of space, with operational mechanical systems and a secured site. The zoning is listed as Commercial,Industrial.
Key Highlights
- 3100Sq. Ft. of industrial space
- Zoning: Commercial,Industrial
- Operational mechanical systems and a secured site
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,049
Cap Rate
5.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$320,980
$321.0K
Cap Rate 7%
$229,271
$229.3K
Cap Rate 9%
$178,322
$178.3K
Market Conditions
NOI Build-Up for 3,100 SF
Gross rent
$23.8K $7.68/SF
− Vacancy
−$881 −$0.28/SF
EGI
$22.9K $7.40/SF
− OpEx
−$6.9K −$2.22/SF
NOI
$16.0K $5.18/SF
Area
Wayne County, MI
Vacancy
3.70%
Lease Rate
$7.68 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$320,980
Cap Rate 7%
$229,271
Cap Rate 9%
$178,322
Alternative Uses
Best Use
Industrial
$229.3K
$200.6K – $267.5K
NOI $16,049 @ 7.0% cap · market cap 5.84%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$573.9K
$502.2K – $669.6K
NOI $40,176 @ 7.0% cap · market cap 14.61%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
347
Businesses Nearby
Explore this area
Business Placement
Demographics for 48203, MI
22,168
Population
13,591
Households
1.6
Avg Household Size
39
Median Age
19%
College-Educated
85%
High-School Grad
8.2 sq mi
ZIP Area
2,703
Density / Sq Mi
$35,108
Median Household Income
$28,364
Median Earnings
$799
Median Rent
$76,100
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Industrial property - The secured premises have operational mechanical systems.
Where is this industrial property located?
The property is located at 521 E 7 Mile Highland Park, MI.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 3100Sq. Ft. of industrial space; Zoning: Commercial,Industrial; Operational mechanical systems and a secured site
