Mixed-Use Storage and Apartments
For Sale
$250,000
8415 BRUSH ST, Detroit, MI 48202
Two-building property includes storage, two second-floor apartments, and an adjacent lot, sold as-is.
Property Size1,770 SF
Price / SF$141.24
Days on Market69
Property Features for 8415 BRUSH ST
General Information
Standard status
Active
Size
1,770 SF
Property subtype
Industrial
Additional Details
Multifamily Units
2
Amenities
3
44.645
Building Details
Year Built
18
Listing Agency:
Real Estate One-Southfield
(248) 506-1257
Listed By:
Gene Kelley · License #6501293908
(248) 506-1257
Source:
Xome
Added: Jun 4
Changed: Aug 8
Last Checked: Aug 11 at 4:39AM
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 Real Estate One-Southfield
Investment Insights
Based on property information with market context.
This mixed-use property includes two buildings and an adjacent lot, sold as-is. For decades, the site has operated as Reynolds Sewer cleaning and Plumbing supply. The main buildings include 8415 Brush and 8417–8419, which together provide storage with two apartments on the second floor.
An attached adjacent lot at 325 E. Euclid is also included in the sale. The offering provides almost 7,000 square feet of developable area, according to the seller, in Detroit’s New North End District.
The property is being offered in an as-is condition, with 24-hour notice required for showings.
An attached adjacent lot at 325 E. Euclid is also included in the sale. The offering provides almost 7,000 square feet of developable area, according to the seller, in Detroit’s New North End District.
The property is being offered in an as-is condition, with 24-hour notice required for showings.
Key Highlights
- Two‑building property: 8415 Brush plus 8417–8419, including storage and two second‑floor apartments
- Adjacent lot at 325 E. Euclid is included in the sale
- Total size described as almost 7,000 sqft of developable area
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
$20,228
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
8.09%
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%
$404,560
$404.6K
Cap Rate 7%
$288,971
$289.0K
Cap Rate 9%
$224,756
$224.8K
Market Conditions
NOI Build-Up for 1,770 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
$30.8K $17.40/SF
− Vacancy
−$1.9K −$1.07/SF
EGI
$28.9K $16.33/SF
− OpEx
−$8.7K −$4.90/SF
NOI
$20.2K $11.43/SF
Area
Detroit, MI
Vacancy
6.17%
Lease Rate
$17.40 /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%
$404,560
Cap Rate 7%
$288,971
Cap Rate 9%
$224,756
Alternative Uses
Best Use
Multifamily LT 5
$289.0K
$252.9K – $337.1K
NOI $20,228 @ 7.0% cap · market cap 8.09%
Second Best
Apartment 5plus
$265.3K
$232.1K – $309.5K
NOI $18,569 @ 7.0% cap · market cap 7.43%
Theoretical Best
Office A
$390.5K
$341.7K – $455.6K
NOI $27,333 @ 7.0% cap · market cap 10.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,623
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48202, MI
17,260
Population
10,078
Households
1.7
Avg Household Size
32
Median Age
38%
College-Educated
91%
High-School Grad
3.4 sq mi
ZIP Area
5,076
Density / Sq Mi
$36,536
Median Household Income
$31,725
Median Earnings
$894
Median Rent
$193,700
Median Home Value
Market
Vacancy Rate% for Industrial in Detroit, MI
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- National Storage — 7430 2nd Ave Suite 555, Detroit, MI 48202
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Frequently Asked Questions
What type of property is this?
Warehouse - Two-building property includes storage, two second-floor apartments, and an adjacent lot, sold as-is.
Where is this warehouse located?
The property is located at 8415 BRUSH ST Detroit, MI.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Two‑building property: 8415 Brush plus 8417–8419, including storage and two second‑floor apartments; Adjacent lot at 325 E. Euclid is included in the sale; Total size described as almost 7,000 sqft of developable area
