Single-Room Office
6011 Joy Rd, Detroit, MI 48204
For Sale
New
$60,000
The interior is configured as one room, with surviving finishes above floor level in good condition.
Property Size438 SF
Days on Market3
Property Features for 6011 Joy Rd
General Information
Standard status
Size
Property subtype
Property Condition
Severity
Evidence
Site & Location
Neighborhood
Additional Details
Condition
Property Use
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listed By:
Benjamin Brandicourt
(313) 533-6300
Source:
Elliman
Added: Nov 8
Last Checked: Nov 8 at 5:25PM
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 Benjamin Brandicourt
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Investment Insights
Based on property information with market context.
This office unit has a one-room layout. The space previously operated as an office occupied by a therapy collective. Following a break-in and resulting flooding, renovation is needed; finishes above floor level remain in good condition. The property was built in 1929.
The location has a Bike Score of 47, described as Somewhat Bikeable, and a Transit Score of 47, described as Some Transit. Its Walk Score is 11, categorized as Car-Dependent.
The location has a Bike Score of 47, described as Somewhat Bikeable, and a Transit Score of 47, described as Some Transit. Its Walk Score is 11, categorized as Car-Dependent.
Key Highlights
- Single‑room office layout
- Finishes above floor level remain in good condition after flooding
- Built in 1929
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$4,437
Cap Rate
7.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$88,740
$88.7K
Cap Rate 7%
$63,386
$63.4K
Cap Rate 9%
$49,300
$49.3K
Market Conditions
NOI Build-Up for 438 SF
Gross rent
$7.7K $17.52/SF
− Vacancy
−$1.8K −$4.01/SF
EGI
$5.9K $13.51/SF
− OpEx
−$1.5K −$3.38/SF
NOI
$4.4K $10.13/SF
Area
Detroit, MI
Vacancy
22.90%
Lease Rate
$17.52 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$88,740
Cap Rate 7%
$63,386
Cap Rate 9%
$49,300
Alternative Uses
Best Use
Office B
$63.4K
$55.5K – $74.0K
NOI $4,437 @ 7.0% cap · market cap 7.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$96.6K
$84.6K – $112.7K
NOI $6,764 @ 7.0% cap · market cap 11.27%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
303
Businesses Nearby
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Business Placement
Demographics for 48204, MI
21,738
Population
13,691
Households
1.6
Avg Household Size
37
Median Age
10%
College-Educated
83%
High-School Grad
5.0 sq mi
ZIP Area
4,348
Density / Sq Mi
$32,875
Median Household Income
$26,701
Median Earnings
$970
Median Rent
$53,600
Median Home Value
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Market
Average Price Trend$/SF for Office Units in Detroit, MI
Properties on Market for Office Units in Detroit
Vacancy Rate% for Office in Detroit, MI
Frequently Asked Questions
What type of property is this?
Office unit - The interior is configured as one room, with surviving finishes above floor level in good condition.
Where is this office unit located?
The property is located at 6011 Joy Rd Detroit, MI.
What is the asking price?
The asking price for this property is $60,000.
What are key features of this property?
This property features: Single‑room office layout; Finishes above floor level remain in good condition after flooding; Built in 1929
