Retail Building and Auto
3840 East 8 Mile Rd Detroit, MI 48234
3840 East 8 Mile Rd, Detroit, MI, 48234
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For Sale
Contact for pricing
Retail building and auto garage totaling 5,516 square feet.
Property Size5,516 SF
Price / SF$58.01
Days on Market1855
Property Features for 3840 East 8 Mile Rd
General Information
- Standard status
- Active
- Size
- 5,516 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1962
Listing agency
Signature Associates Warren
(248) 359-0615
Listed by
Joe Stack · License #MI
Source
Crexi
Added: Jun 23, 2021 Updated: Jul 10 at 11:20AM Checked: Jul 20 at 5:14AM
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 Signature Associates Warren
Investment Insights
Based on property information with market context.
The property features a 3,025 square foot retail building and a 2,491 square foot auto garage. The structures have been completely updated and are ready for buildout.
Key Highlights
- 3,025 sq. ft. retail building
- 2,491 sq. ft. auto garage
- Completely updated
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 | $40.4k | $7.32 |
| − Vacancy | −$2.1k | −$0.37 |
| EGI | $38.3k | $6.95 |
| − OpEx | −$11.5k | −$2.08 |
| NOI | $26.8k | $4.86 |
5,516 SF · lease $7.32/SF/yr · vacancy 5.08% · expense 30.00%
Alternative Uses
Best Use
Retail
$970.6K
$849.3K – $1.13M
NOI $67,940 @ 7.0% cap · market cap 21.23%
Second Best
Industrial
$383.3K
$335.4K – $447.1K
NOI $26,828 @ 7.0% cap · market cap 8.38%
Theoretical Best
Office A
$1.22M
$1.06M – $1.42M
NOI $85,180 @ 7.0% cap · market cap 26.62%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Retail building and auto garage totaling 5,516 square feet.
Where is this retail space located?
The property is located at 3840 East 8 Mile Rd Detroit, MI.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: 3,025 sq. ft. retail building; 2,491 sq. ft. auto garage; Completely updated
