20530 Hoover St, Detroit, MI 48205
40,300 SF Detroit building suitable for industrial or manufacturing use.
- Added:
- May 20, 2024
- Days on Market:
- 770
- Last Refresh:
- May 13 at 8:25 pm
Property Features for 20530 Hoover St
General Information
- Standard status
- Active
- Size
- 40,300 SF
- Property subtype
- Industrial
Building Details
- Year Built
- 1955
Listing office Odessa Properties LLC (586) 337-6800
Listing date May 20, 2024
Source Crexi
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 Odessa Properties LLC
HighLights
- Prime location at 8 Mile and Groesbeck Highway.
- 40,300 SF pristine building suitable for industrial/manufacturing use.
- Brand new roof (2023) with a 20‑year warranty.
- Upgraded electrical system: 480 Volts, 3,000 amps and 2,100 KVA.
- New office space with epoxy floors, kitchenette, and bathrooms.
- Available for Sale, Lease, or Land Contract.
Overview
Local Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $295.0k | $7.32 |
| − Vacancy | −$15.0k | −$0.37 |
| EGI | $280.0k | $6.95 |
| − OpEx | −$84.0k | −$2.08 |
| NOI | $196.0k | $4.86 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Detroit
- County
- Wayne
- State
- Michigan
- Longitude
- -83.0045587
- Latitude
- 42.4475248
