Remodeled Freestanding Industrial
For Sale
$2,350,000
6519 N Hix Rd, Westland, MI 48185
Freestanding industrial building with 20-foot clear height and two truck wells for loading and grade-level access.
Property Size23,470 SF
Price / SF$100.13
Days on Market199
Property Features for 6519 N Hix Rd
General Information
Standard status
Active
Size
23,470 SF
Property subtype
Industrial
Warehouse & Industrial
Clear Height
20 ft
Dock-High Doors
2
Drive-In Doors
1
Additional Details
Highway Access
Yes
Listing Agency:
Thomas A. Duke Company
Listed By:
Eric Szerlag · License #6501343471
(248) 476-3700
Source:
Cpix.resimplifi
Added: Feb 17
Changed: Jul 20
Last Checked: Sep 4 at 2:11AM
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 Thomas A. Duke Company
Investment Insights
Based on property information with market context.
A freestanding industrial building offering approximately 23,470 square feet and recently remodeled, clean condition. The facility features 20-foot clear height and two truck wells, supported by a 12x14 grade level door to accommodate practical loading needs.
The property is described as having easy access to I-275. Occupancy is scheduled for March 2026.
This building is well suited for industrial users seeking a self-contained, move-in ready setup with meaningful vertical clear height and direct loading access.
The property is described as having easy access to I-275. Occupancy is scheduled for March 2026.
This building is well suited for industrial users seeking a self-contained, move-in ready setup with meaningful vertical clear height and direct loading access.
Key Highlights
- Freestanding 23,470 SF industrial building
- Recently remodeled, clean building
- 20‑foot clear height
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
$147,543
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
6.28%
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%
$2,950,860
$3.0M
Cap Rate 7%
$2,107,757
$2.1M
Cap Rate 9%
$1,639,367
$1.6M
Market Conditions
NOI Build-Up for 23,470 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
$180.2K $7.68/SF
− Vacancy
−$6.7K −$0.28/SF
EGI
$173.6K $7.40/SF
− OpEx
−$26.0K −$1.11/SF
NOI
$147.5K $6.29/SF
Area
Wayne County, MI
Vacancy
3.70%
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%
$2,950,860
Cap Rate 7%
$2,107,757
Cap Rate 9%
$1,639,367
Alternative Uses
Best Use
Warehouse
$2.11M
$1.84M – $2.46M
NOI $147,543 @ 7.0% cap · market cap 6.28%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.35M
$3.80M – $5.07M
NOI $304,171 @ 7.0% cap · market cap 12.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20 ft
Clear height
2
Dock-high doors
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
470
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48185, MI
49,730
Population
23,554
Households
2.1
Avg Household Size
40
Median Age
23%
College-Educated
91%
High-School Grad
12.2 sq mi
ZIP Area
4,076
Density / Sq Mi
$59,085
Median Household Income
$40,435
Median Earnings
$1,123
Median Rent
$183,500
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
- CubeSmart Self Storage — 39205 Ford Rd, Westland, MI 48185
- Simply Self Storage — westland, mi 48185
- Office Installations Inc — 6022 Executive Dr E, Westland, MI 48185
- Canton RV Storage — 39475 Warren Rd, Canton, MI 48187
Frequently Asked Questions
What type of property is this?
Warehouse - Freestanding industrial building with 20-foot clear height and two truck wells for loading and grade-level access.
Where is this warehouse located?
The property is located at 6519 N Hix Rd Westland, MI.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: Freestanding 23,470 SF industrial building; Recently remodeled, clean building; 20‑foot clear height
