Leased Flex Industrial
For Sale
$649,900
6635 Schaefer Rd, Dearborn, MI 48126
Two fully leased commercial units on Schaefer Road generating $4,100 monthly rental income.
Property Size2,400 SF
Price / SF$270.79
Days on Market100
Property Features for 6635 Schaefer Rd
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Industrial
Occupancy
100%
Additional Details
Highway Access
Yes
Amenities
3
30100
Listing Agency:
Century 21 Curran & Oberski
(313) 289-2222
Listed By:
Ali Charara · License #6501340600
(313) 289-2222
Source:
Xome
Added: May 14
Changed: Aug 12
Last Checked: Aug 21 at 4:22AM
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 Century 21 Curran & Oberski
Investment Insights
Based on property information with market context.
This unique property includes two separate commercial units, 6629 and 6635 Schaefer Road, each fully leased with established tenants in place. The current rental income is reported at $4,100 per month, providing immediate cash flow for an investor or owner-operator looking for steadiness.
Located in Dearborn in a high-traffic commercial corridor, the property benefits from heavy daily traffic and strong visibility, supported by surrounding business activity. The offering is described as close to shopping and restaurants, with access to major freeways and downtown Dearborn.
Located in Dearborn in a high-traffic commercial corridor, the property benefits from heavy daily traffic and strong visibility, supported by surrounding business activity. The offering is described as close to shopping and restaurants, with access to major freeways and downtown Dearborn.
Key Highlights
- Two separate commercial units at 6629 & 6635 Schaefer Rd, both fully leased with established tenants
- Current rental income of $4,100 per month
- 3 guest facilities
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
$21,116
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
3.25%
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%
$422,320
$422.3K
Cap Rate 7%
$301,657
$301.7K
Cap Rate 9%
$234,622
$234.6K
Market Conditions
NOI Build-Up for 2,400 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
$34.6K $14.40/SF
− Vacancy
−$2.1K −$0.86/SF
EGI
$32.5K $13.54/SF
− OpEx
−$11.4K −$4.74/SF
NOI
$21.1K $8.80/SF
Area
Dearborn, MI
Vacancy
6.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
35.00%
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%
$422,320
Cap Rate 7%
$301,657
Cap Rate 9%
$234,622
Alternative Uses
Best Use
Flex RnD
$301.7K
$264.0K – $351.9K
NOI $21,116 @ 7.0% cap · market cap 3.25%
Second Best
Industrial
$201.2K
$176.1K – $234.7K
NOI $14,084 @ 7.0% cap · market cap 2.17%
Theoretical Best
Office A
$529.4K
$463.3K – $617.7K
NOI $37,061 @ 7.0% cap · market cap 5.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
988
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48126, MI
55,863
Population
16,919
Households
3.3
Avg Household Size
28
Median Age
24%
College-Educated
74%
High-School Grad
8.4 sq mi
ZIP Area
6,650
Density / Sq Mi
$42,353
Median Household Income
$27,724
Median Earnings
$1,222
Median Rent
$200,600
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Paisano's Catering — 5511 Schaefer Rd, Dearborn, MI 48126
- Kater 2 U — 6659 Schaefer Rd STE 1281, Dearborn, MI 48126
Frequently Asked Questions
What type of property is this?
Flex space - Two fully leased commercial units on Schaefer Road generating $4,100 monthly rental income.
Where is this flex space located?
The property is located at 6635 Schaefer Rd Dearborn, MI.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Two separate commercial units at 6629 & 6635 Schaefer Rd, both fully leased with established tenants; Current rental income of $4,100 per month; 3 guest facilities
