Flex Space with
For Sale
$525,000
6901 WYOMING ST, Dearborn, MI 48126
Open commercial area paired with multiple offices and an adjacent parking parcel.
Property Size4,000 SF
Lot Size0.31 Acres
Price / SF$150.47
Days on Market10
Property Features for 6901 WYOMING ST
General Information
Standard status
Active
Size
4,000 SF
Lot size
0.31 Acres
Property subtype
Industrial
Additional Details
Road Access
Yes
Amenities
3
58100
Building Details
Year Built
19
Buildings
1
Building Size
4,000 SF
Listing Agency:
Got Key'D Realty
(313) 485-2662
Listed By:
Ali Abdallah · License #6501421572
(313) 485-2662
Source:
Xome
Added: Aug 7
Changed: Aug 16
Last Checked: Aug 16 at 3:37AM
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 Got Key'D Realty
Investment Insights
Based on property information with market context.
Located at 6901 Wyoming St in Dearborn, this flex property combines an open-concept commercial area with multiple offices in a single building. The layout supports a mix of workspace, showroom, storage, retail, or warehouse functions as described in the property information, while retaining separate office areas for administrative use.
The sale includes the adjacent parking lot at 6951 Wyoming, identified as parcel #32-10-082-19-020. The property occupies approximately 0.31 acres and provides 138 feet of road frontage. The building and additional parcel create a combined commercial offering with open space, office areas, frontage, and supplemental parking.
The sale includes the adjacent parking lot at 6951 Wyoming, identified as parcel #32-10-082-19-020. The property occupies approximately 0.31 acres and provides 138 feet of road frontage. The building and additional parcel create a combined commercial offering with open space, office areas, frontage, and supplemental parking.
Key Highlights
- Flex building with an open‑concept area and multiple offices
- Approximately 0.31 acres with 138 feet of road frontage
- Sale includes adjacent parking lot at 6951 Wyoming
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
$42,974
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
8.19%
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%
$859,480
$859.5K
Cap Rate 7%
$613,914
$613.9K
Cap Rate 9%
$477,489
$477.5K
Market Conditions
NOI Build-Up for 3,489 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
$64.9K $18.60/SF
− Vacancy
−$3.5K −$1.00/SF
EGI
$61.4K $17.60/SF
− OpEx
−$18.4K −$5.28/SF
NOI
$43.0K $12.32/SF
Area
Dearborn, MI
Vacancy
5.40%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
30.00%
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%
$859,480
Cap Rate 7%
$613,914
Cap Rate 9%
$477,489
Alternative Uses
Best Use
Retail
$613.9K
$537.2K – $716.2K
NOI $42,974 @ 7.0% cap · market cap 8.19%
Second Best
Office B
$549.3K
$480.6K – $640.9K
NOI $38,451 @ 7.0% cap · market cap 7.32%
Theoretical Best
Office A
$769.7K
$673.5K – $898.0K
NOI $53,878 @ 7.0% cap · market cap 10.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
448
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 Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Open commercial area paired with multiple offices and an adjacent parking parcel.
Where is this flex space located?
The property is located at 6901 WYOMING ST 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: Flex building with an open‑concept area and multiple offices; Approximately 0.31 acres with 138 feet of road frontage; Sale includes adjacent parking lot at 6951 Wyoming
