Building Details

Building Size 40,000 SF

Listing Agency: Lee & Associates of Michigan

Listed By: Scott E. Lyons Show Phone

Source: Cpix.resimplifi

Added: Mar 27 Changed: Oct 5 Last Checked: Oct 5 at 3:17PM

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Investment Insights

Based on property information with market context.

This industrial property offers 40,000 square feet of warehouse space. The property is located in Ecorse, Michigan.

Key Highlights

• Industrial Property
• 40,000 SqFt

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$207,084

Cap Rate

7.96%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,141,680 $4.1M

Cap Rate 7%

$2,958,343 $3.0M

Cap Rate 9%

$2,300,933 $2.3M

Market Conditions

NOI Build-Up for 40,000 SF

Gross rent

$307.2K $7.68/SF

− Vacancy

−$11.4K −$0.28/SF

EGI

$295.8K $7.40/SF

− OpEx

−$88.8K −$2.22/SF

NOI

$207.1K $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%

$4,141,680

Cap Rate 7%

$2,958,343

Cap Rate 9%

$2,300,933

Alternative Uses

Best Use

Warehouse

$3.59M

$3.14M – $4.19M (±1% cap)

NOI $251,459 @ 7.0% cap · market cap 9.67%

Second Best

Industrial

$2.96M

$2.59M – $3.45M (±1% cap)

NOI $207,084 @ 7.0% cap · market cap 7.96%

Theoretical Best

Specialty Retail

$7.41M

$6.48M – $8.64M (±1% cap)

NOI $518,400 @ 7.0% cap · market cap 19.94%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Warehouses

Suggested Use

Top Pick Law Firm Restaurant Dental Office Building Supply Big Box & Wholesale Store Pharmacy

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

245

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 48229, MI

9,258

Population

4,156

Households

2.2

Avg Household Size

36

Median Age

9%

College-Educated

72%

High-School Grad

2.8 sq mi

ZIP Area

3,306

Density / Sq Mi

$45,148

Median Household Income

$33,815

Median Earnings

$879

Median Rent

$59,300

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this warehouses located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Warehouse - 40,000 SqFt industrial warehouse property for sale.

Where is this warehouse located?

The property is located at 64 Mill St Ecorse, MI.

What is the asking price?

The asking price for this property is $2,600,000.

What are key features of this property?

This property features: Industrial Property; 40,000 SqFt