For Sale
$2,270,000
710-712 Minnesota, Detroit, MI 48203
Warehouses
Property Size19,885 SF
Price / SF$114.16
Days on Market259
Property Features for 710-712 Minnesota
General Information
Standard status
Active
Size
19,885 SF
Property subtype
Industrial
Building Details
Building Size
19,885 SF
Listing Agency:
Friedman Integrated Real Estate
Listed By:
Zach Cummings
(248) 848-1253
Source:
Cpix.resimplifi
Added: Feb 2
Changed: Oct 10
Last Checked: Oct 19 at 3:32AM
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 Friedman Integrated Real Estate
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Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$141,697
Cap Rate
6.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,833,940
$2.8M
Cap Rate 7%
$2,024,243
$2.0M
Cap Rate 9%
$1,574,411
$1.6M
Market Conditions
NOI Build-Up for 19,885 SF
Gross rent
$174.2K $8.76/SF
− Vacancy
−$7.5K −$0.38/SF
EGI
$166.7K $8.38/SF
− OpEx
−$25.0K −$1.26/SF
NOI
$141.7K $7.13/SF
Area
Detroit, MI
Vacancy
4.30%
Lease Rate
$8.76 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,833,940
Cap Rate 7%
$2,024,243
Cap Rate 9%
$1,574,411
Alternative Uses
Best Use
Warehouse
$2.02M
$1.77M – $2.36M
NOI $141,697 @ 7.0% cap · market cap 6.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.39M
$3.84M – $5.12M
NOI $307,070 @ 7.0% cap · market cap 13.53%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
321
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48203, MI
22,168
Population
13,591
Households
1.6
Avg Household Size
39
Median Age
19%
College-Educated
85%
High-School Grad
8.2 sq mi
ZIP Area
2,703
Density / Sq Mi
$35,108
Median Household Income
$28,364
Median Earnings
$799
Median Rent
$76,100
Median Home Value
Market
Vacancy Rate% for Industrial in Detroit, MI
Frequently Asked Questions
Where is this warehouse located?
The property is located at 710-712 Minnesota Detroit, MI.
What is the asking price?
The asking price for this property is $2,270,000.
