Six-Unit Flex
For Sale
$1,797,000
5840-5852 Hubbard St, Garden City, MI 48135
Six flex suites feature overhead-door access, and a marijuana license is included in the sale.
Property Size16,800 SF
Price / SF$106.96
Days on Market12
Property Features for 5840-5852 Hubbard St
General Information
Standard status
Active
Size
16,800 SF
Total Parking Spaces
36
Property subtype
Industrial
Zoning
M-1
Building Details
Building Size
16,800 SF
Year Built
1976
Year Renovated
2026
Listing Agency:
Signature Associates - Southfield
Listed By:
Joseph Plaskey
(248) 948-0110
Source:
Cpix.resimplifi
Added: Sep 25
Changed: Oct 4
Last Checked: Oct 5 at 3:08PM
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.
Built in 1976, this 16,800-square-foot flex property contains six units ranging from 1,600 to 5,600 square feet. Each unit has a 12-by-12-foot overhead door, and the largest suite supports drive-through access. The property is zoned M-1, and a marijuana license is included in the sale.
An additional acre sits behind the building, providing land for parking, outdoor storage, or expansion. Exterior painting and roof work are identified as completed in Fall 2026.
An additional acre sits behind the building, providing land for parking, outdoor storage, or expansion. Exterior painting and roof work are identified as completed in Fall 2026.
Key Highlights
- Six units ranging from 1,600 sq. ft. to 5,600 sq. ft.
- 16,800‑square‑foot flex property built in 1976
- Each unit has a 12x12 overhead door; the 5,600 sq. ft. unit allows drive‑through access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$106,001
Cap Rate
5.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,120,020
$2.1M
Cap Rate 7%
$1,514,300
$1.5M
Cap Rate 9%
$1,177,789
$1.2M
Market Conditions
NOI Build-Up for 16,800 SF
Gross rent
$169.3K $10.08/SF
− Vacancy
−$6.3K −$0.37/SF
EGI
$163.1K $9.71/SF
− OpEx
−$57.1K −$3.40/SF
NOI
$106.0K $6.31/SF
Area
Wayne County, MI
Vacancy
3.70%
Lease Rate
$10.08 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,120,020
Cap Rate 7%
$1,514,300
Cap Rate 9%
$1,177,789
Alternative Uses
Best Use
Flex RnD
$1.51M
$1.33M – $1.77M
NOI $106,001 @ 7.0% cap · market cap 5.90%
Second Best
Industrial
$1.24M
$1.09M – $1.45M
NOI $86,975 @ 7.0% cap · market cap 4.84%
Theoretical Best
Specialty Retail
$3.11M
$2.72M – $3.63M
NOI $217,728 @ 7.0% cap · market cap 12.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
380
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48135, MI
27,380
Population
11,395
Households
2.4
Avg Household Size
41
Median Age
15%
College-Educated
91%
High-School Grad
5.9 sq mi
ZIP Area
4,641
Density / Sq Mi
$64,396
Median Household Income
$39,987
Median Earnings
$991
Median Rent
$162,400
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.
Frequently Asked Questions
What type of property is this?
Flex space - Six flex suites feature overhead-door access, and a marijuana license is included in the sale.
Where is this flex space located?
The property is located at 5840-5852 Hubbard St Garden City, MI.
What is the asking price?
The asking price for this property is $1,797,000.
What are key features of this property?
This property features: Six units ranging from 1,600 sq. ft. to 5,600 sq. ft.; 16,800‑square‑foot flex property built in 1976; Each unit has a 12x12 overhead door; the 5,600 sq. ft. unit allows drive‑through access
