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    20530 Hoover St Detroit, MI 48205

    For Sale
    $3,150,000

    Industrial warehouse, prime Detroit location.

    Property size:
    40,300 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This 40,300-square-foot industrial warehouse, located at 20530 Hoover St, Detroit, MI 48205, presents a compelling investment opportunity. Situated on a 1.5-acre lot in Wayne County, this Class C building boasts a prime location at the intersection of 8 Mile and Groesbeck Highway. Built in 1955 and extensively renovated in 2024, the property features a single-story structure with four loading docks and ceiling heights ranging from 16 to 22 feet. The recent renovations included a brand new roof (2023) with a 20-year warranty, completely updated electrical systems (480 Volts, 3,000 amps, and 2,100 KVA), a new fire suppression system, and upgraded plumbing. The building also includes newly constructed office space with epoxy floors, a kitchenette, bathrooms, and direct access to the warehouse. The property is zoned for industrial use and is available for sale ($3,150,000

    Property Features for 20530 Hoover St

    General Information

    Property type
    Distribution properties
    Square Feet
    40,300 SF
    Class
    C
    Lot Size
    65,340 SF

    Building Details

    Year Built/Renovated
    1955/2024
    Buildings
    1
    Stories
    1

    HighLights

    • 40,300 SF industrial warehouse on a 1.5‑acre lot in Detroit, MI.
    • Located at 20530 Hoover St, at the intersection of 8 Mile and Groesbeck Highway.
    • Class C building, single‑story with four loading docks and 16‑22' ceiling heights.
    • Recently renovated (2024) with a new roof (20‑year warranty), updated electrical (480V, 3000 amps, 2100 KVA), new fire suppression, and upgraded plumbing.
    • Includes new office space with epoxy floors, kitchenette, and bathrooms.
    • Zoned industrial, offered at $3,150,000.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Distribution centers

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.0044511
    Latitude
    42.4475876

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    FAQs

    What type of property is this?
    Distribution property - Industrial warehouse, prime Detroit location.
    Where is this distribution property located?
    The property is located at 20530 Hoover St Detroit, MI.
    What is the asking price?
    The asking price for this property is $3,150,000.
    What are key features of this property?
    This property features: 40,300 SF industrial warehouse on a 1.5-acre lot in Detroit, MI.; Located at 20530 Hoover St, at the intersection of 8 Mile and Groesbeck Highway.; Class C building, single-story with four loading docks and 16-22' ceiling heights.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    20530 Hoover St Detroit, MI 48205
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