East Dearborn Warehouse Space
For Sale
$589,000
5420 Oakman Boulevard, Dearborn, MI 48126
Over 8,000 sq ft warehouse on over 0.25 acres.
Property Size8,067 SF
Lot Size0.25 Acres
Price / SF$73.63
Days on Market134
Property Features for 5420 Oakman Boulevard
General Information
Standard status
Active
Size
8,067 SF
Lot size
0.25 Acres
Property subtype
Commercial
Zoning
Commercial
Taxes and HOA fees
Annual Taxes
$4,801
Building Details
Building Size
8,067 SF
Year Built
1943
Listing Agency:
Keller Williams Legacy
Listed By:
Nick Jaafar · License #6501403947
(313) 706-7011
Source:
Buyatthelake
Added: Apr 24
Changed: Sep 3
Last Checked: Sep 1 at 9:09PM
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 Keller Williams Legacy
Investment Insights
Based on property information with market context.
This East Dearborn warehouse space offers high traffic and visibility. The property includes over 8,000 square feet of warehouse space and sits on over a quarter acre. The location has a bike score of 48, indicating it is somewhat bikeable, and a walk score of 41, indicating car-dependent accessibility.
Key Highlights
- High‑traffic location with phenomenal visibility.
- Over 8,000 square feet of warehouse space.
- Sits on over a quarter acre of land.
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
$50,031
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
8.49%
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%
$1,000,620
$1.0M
Cap Rate 7%
$714,729
$714.7K
Cap Rate 9%
$555,900
$555.9K
Market Conditions
NOI Build-Up for 8,000 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
$61.4K $7.68/SF
− Vacancy
−$2.6K −$0.32/SF
EGI
$58.9K $7.36/SF
− OpEx
−$8.8K −$1.10/SF
NOI
$50.0K $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 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%
$1,000,620
Cap Rate 7%
$714,729
Cap Rate 9%
$555,900
Alternative Uses
Best Use
Warehouse
$714.7K
$625.4K – $833.9K
NOI $50,031 @ 7.0% cap · market cap 8.49%
Second Best
Industrial
$670.7K
$586.8K – $782.5K
NOI $46,947 @ 7.0% cap · market cap 7.97%
Theoretical Best
Office A
$1.76M
$1.54M – $2.06M
NOI $123,538 @ 7.0% cap · market cap 20.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- ABW Self Storage Unit — 5286 Williamson St, Dearborn, MI 48126
Frequently Asked Questions
What type of property is this?
Warehouse - Over 8,000 sq ft warehouse on over 0.25 acres.
Where is this warehouse located?
The property is located at 5420 Oakman Boulevard Dearborn, MI.
What is the asking price?
The asking price for this property is $589,000.
What are key features of this property?
This property features: High‑traffic location with phenomenal visibility.; Over 8,000 square feet of warehouse space.; Sits on over a quarter acre of land.
