Flex Space With Office
New
For Sale
$525,000
6901 Wyoming Ave, Dearborn, MI 48126
Open commercial area and multiple offices create a versatile configuration for business operations.
Property Size3,489 SF
Lot Size0.31 Acres
Price / SF$131.25
Days on Market2
Property Features for 6901 Wyoming Ave
General Information
Standard status
Active
Size
3,489 SF
Lot size
0.31 Acres
Property subtype
Commercial
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$7,508
Building Details
Building Size
3,489 SF
Year Built
1946
Buildings
1
Listing Agency:
(313) 228-5710
Listed By:
Ali Abdallah · License #6501421572
(313) 228-5710
Source:
Elliman
Added: Aug 11
Changed: Aug 12
Last Checked: Aug 12 at 5:01AM
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 Ali Abdallah
Investment Insights
Based on property information with market context.
Built in 1946, this approximately 4,000-square-foot flex space combines an open commercial area with multiple enclosed offices. The building occupies approximately 0.31 acres and provides a practical mix of adaptable interior space and dedicated office areas. The open portion can accommodate storage, showroom, workspace, or other commercial functions supported by the existing layout.
The property is located at 6901 Wyoming Ave in Dearborn, with 138 feet of road frontage. The sale includes the adjacent parking lot parcel at 6951 Wyoming, identified as Parcel #32-10-082-19-020. WalkScore is 80, rated Very Walkable, and BikeScore is 50, rated Bikeable.
The property is located at 6901 Wyoming Ave in Dearborn, with 138 feet of road frontage. The sale includes the adjacent parking lot parcel at 6951 Wyoming, identified as Parcel #32-10-082-19-020. WalkScore is 80, rated Very Walkable, and BikeScore is 50, rated Bikeable.
Key Highlights
- Approximately 4,000‑square‑foot flex space with open commercial area and multiple offices
- Approximately 0.31 acres with 138 feet of road frontage
- Adjacent parking lot at 6951 Wyoming included in the sale
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
$44,082
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
8.40%
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%
$881,640
$881.6K
Cap Rate 7%
$629,743
$629.7K
Cap Rate 9%
$489,800
$489.8K
Market Conditions
NOI Build-Up for 4,000 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
$75.8K $18.96/SF
− Vacancy
−$17.1K −$4.27/SF
EGI
$58.8K $14.69/SF
− OpEx
−$14.7K −$3.67/SF
NOI
$44.1K $11.02/SF
Area
Dearborn, MI
Vacancy
22.50%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
25.00%
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%
$881,640
Cap Rate 7%
$629,743
Cap Rate 9%
$489,800
Alternative Uses
Best Use
Retail
$703.8K
$615.9K – $821.1K
NOI $49,268 @ 7.0% cap · market cap 9.38%
Second Best
Office B
$629.7K
$551.0K – $734.7K
NOI $44,082 @ 7.0% cap · market cap 8.40%
Theoretical Best
Office A
$882.4K
$772.1K – $1.03M
NOI $61,769 @ 7.0% cap · market cap 11.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
317
Businesses Nearby
Well-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 Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Aramark — 15555 Lundy Pkwy, Dearborn, MI 48126
- Paisano's Catering — 5511 Schaefer Rd, Dearborn, MI 48126
Frequently Asked Questions
What type of property is this?
Flex space - Open commercial area and multiple offices create a versatile configuration for business operations.
Where is this flex space located?
The property is located at 6901 Wyoming Ave Dearborn, MI.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Approximately 4,000‑square‑foot flex space with open commercial area and multiple offices; Approximately 0.31 acres with 138 feet of road frontage; Adjacent parking lot at 6951 Wyoming included in the sale
