Multi-Unit Flex Warehouse
624 Livernois Street Unit SourceFi Ferndale, MI 48220
624 Livernois Street Unit SourceFi, Ferndale, MI, 48220
$1,389,000
For Sale
$1,389,000
Well-maintained multi-unit building with six units, ample storage, a 20-space parking lot, and an attached 12' x 10' garage door.
Property Size9,374 SF
Price / SF$148.18
Days on Market153
Property Features for 624 Livernois Street Unit SourceFi
General Information
- Standard status
- Active
- Size
- 9,374 SF
- Property subtype
- Industrial
Building Details
- Year Built
- 19
Listing Agency
@properties Christie's Int'l R.E. Birmingham
(248) 421-7313
Listed by
Susan Lozano
(248) 421-7313
Source
Xome
Added: Feb 16 Checked: Jul 19 at 1:54 am
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 @properties Christie's Int'l R.E. Birmingham
Investment Insights
Based on property information with market context.
This well-maintained block-structured flex/warehouse building features six good-sized units with ample storage. The property also includes an attached garage of approximately 600 sq. ft. with a 12' x 10' garage door, and recent improvements totaling $500,000. Unit sizes include approximately 470 sq. ft. (#100), 850 sq. ft. (#200), 2,200 sq. ft. each (#300 and #400), 1,600 sq. ft. (#500), and 1,400 sq. ft. (#600), with all measurements approximate.
The property provides 20 parking spaces, plus additional street parking.
Some spaces are noted as having been leased with longer-term leases, while others remain available as part of this multi-unit configuration.
The property provides 20 parking spaces, plus additional street parking.
Some spaces are noted as having been leased with longer-term leases, while others remain available as part of this multi-unit configuration.
Key Highlights
- Well‑maintained multi‑unit building with $500,000 in updates to a block‑structured building
- 6‑unit layout with unit sizes including 470 SF (#100), 850 SF (#200), 2,200 SF (#300 & #400), 1,600 SF (#500), and 1,400 SF (#600)
- Off‑street parking for 20 vehicles plus additional street parking
Local Financial Insights For Flex RnD
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $168.7k | $18.00 |
| − Vacancy | −$19.6k | −$2.09 |
| EGI | $149.2k | $15.91 |
| − OpEx | −$52.2k | −$5.57 |
| NOI | $97.0k | $10.34 |
9,374 SF · lease $18.00/SF/yr · vacancy 11.60% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$1.39M
$1.21M – $1.62M
NOI $96,953 @ 7.0% cap · market cap 6.98%
Second Best
Warehouse
$805.7K
$705.0K – $940.0K
NOI $56,397 @ 7.0% cap · market cap 4.06%
Theoretical Best
Specialty Retail
$2.02M
$1.77M – $2.36M
NOI $141,532 @ 7.0% cap · market cap 10.19%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
Similar Off Market Nearby
- The Gripper Food Truck — 20504 Livernois, Detroit, MI 48221
- Durden's Catering — 20504 Livernois, Detroit, MI 48221
- Quarton Catering — 22020 Woodward Ave, Ferndale, MI 48220
- WeWillCook4U — 20504 Livernois, Detroit, MI 48221
- Jackson's Five Star Catering — 20504 Livernois, Detroit, MI 48221
FAQs
What type of property is this?
Flex space - Well-maintained multi-unit building with six units, ample storage, a 20-space parking lot, and an attached 12' x 10' garage door.
Where is this flex space located?
The property is located at 624 Livernois Street Unit SourceFi Ferndale, MI.
What is the asking price?
The asking price for this property is $1,389,000.
What are key features of this property?
This property features: Well‑maintained multi‑unit building with $500,000 in updates to a block‑structured building; 6‑unit layout with unit sizes including 470 SF (#100), 850 SF (#200), 2,200 SF (#300 & #400), 1,600 SF (#500), and 1,400 SF (#600); Off‑street parking for 20 vehicles plus additional street parking
