Industrial
New
For Sale
$275,000
521 E 7 Mile Road, Highland Park, MI 48203
The property has operational mechanical systems and power suited to light industrial work.
Property Size3,160 SF
Price / SF$87.03
Days on Market2
Property Features for 521 E 7 Mile Road
General Information
Standard status
Active
Size
3,160 SF
Property subtype
Commercial
Zoning
Commercial, Light Industri
Additional Details
Property Use
Light Industrial
Taxes and HOA fees
Annual Taxes
$822
Building Details
Building Size
3,160 SF
Year Built
1954
Listing Agency:
Herbert J Hill Realty Real Estate Master
Listed By:
Herbert J Hill Jr · License #6504381646
(313) 587-9707
Source:
61houses
Added: Nov 1
Last Checked: Nov 1 at 3:37PM
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
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Investment Insights
Based on property information with market context.
This industrial property includes operational mechanical systems and power for light industrial work. The site is described as secure, and the building dates to 1954.
Key Highlights
- Power available for light industrial work
- Mechanical systems are operational
- Building constructed in 1954
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,360
Cap Rate
5.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$327,200
$327.2K
Cap Rate 7%
$233,714
$233.7K
Cap Rate 9%
$181,778
$181.8K
Market Conditions
NOI Build-Up for 3,160 SF
Gross rent
$24.3K $7.68/SF
− Vacancy
−$898 −$0.28/SF
EGI
$23.4K $7.40/SF
− OpEx
−$7.0K −$2.22/SF
NOI
$16.4K $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%
$327,200
Cap Rate 7%
$233,714
Cap Rate 9%
$181,778
Alternative Uses
Best Use
Industrial
$233.7K
$204.5K – $272.7K
NOI $16,360 @ 7.0% cap · market cap 5.95%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$585.1K
$511.9K – $682.6K
NOI $40,954 @ 7.0% cap · market cap 14.89%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
376
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
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View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Industrial property - The property has operational mechanical systems and power suited to light industrial work.
Where is this industrial property located?
The property is located at 521 E 7 Mile Road 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: Power available for light industrial work; Mechanical systems are operational; Building constructed in 1954
