Industrial Building with Retail
For Sale
Contact for pricing
3700 Central St, Detroit, MI 48210
Industrial building suitable for retail or truck terminal use.
Property Size14,491 SF
Price / SF$65.49
Days on Market647
Property Features for 3700 Central St
General Information
Standard status
Active
Size
14,491 SF
Property subtype
Retail, Industrial
Zoning
M4 – Intensive Industrial District
Investment Type
Owner/User
Building Details
Year Built
1951
Buildings
1
Stories
1
Listing Agency:
Insite Commercial
(248) 359-9000
Listed By:
Mojahed Abubars · License #6506046863
Source:
Crexi
Added: Nov 12, 2024
Changed: Aug 9
Last Checked: Aug 18 at 9:40AM
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 Insite Commercial
Investment Insights
Based on property information with market context.
This industrial building is currently utilized for retail purposes. It is zoned M4, which accommodates a variety of uses, including functioning as a truck terminal. A new roof was completed at the end of 2024. A portion of the building is situated above grade, facilitating a seamless distribution operation. The property has a size of 14491 square feet.
Key Highlights
- Industrial building perfect for various ventures.
- M4 zoning allows for a wide range of uses, including truck terminal.
- New roof completed end of 2024.
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
$70,480
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
7.43%
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%
$1,409,600
$1.4M
Cap Rate 7%
$1,006,857
$1.0M
Cap Rate 9%
$783,111
$783.1K
Market Conditions
NOI Build-Up for 14,491 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
$106.1K $7.32/SF
− Vacancy
−$5.4K −$0.37/SF
EGI
$100.7K $6.95/SF
− OpEx
−$30.2K −$2.08/SF
NOI
$70.5K $4.86/SF
Area
Detroit, MI
Vacancy
5.08%
Lease Rate
$7.32 /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%
$1,409,600
Cap Rate 7%
$1,006,857
Cap Rate 9%
$783,111
Alternative Uses
Best Use
Retail
$2.55M
$2.23M – $2.97M
NOI $178,484 @ 7.0% cap · market cap 18.81%
Second Best
Industrial
$1.01M
$881.0K – $1.17M
NOI $70,480 @ 7.0% cap · market cap 7.43%
Theoretical Best
Office A
$3.20M
$2.80M – $3.73M
NOI $223,774 @ 7.0% cap · market cap 23.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
472
Businesses Nearby
Explore this area
Business Placement
Demographics for 48210, MI
27,155
Population
10,576
Households
2.6
Avg Household Size
28
Median Age
9%
College-Educated
57%
High-School Grad
4.9 sq mi
ZIP Area
5,542
Density / Sq Mi
$38,900
Median Household Income
$25,220
Median Earnings
$968
Median Rent
$60,100
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.
Frequently Asked Questions
What type of property is this?
Industrial property - Industrial building suitable for retail or truck terminal use.
Where is this industrial property located?
The property is located at 3700 Central St Detroit, MI.
What is the asking price?
The asking price for this property is $949,000.
What are key features of this property?
This property features: Industrial building perfect for various ventures.; M4 zoning allows for a wide range of uses, including truck terminal.; New roof completed end of 2024.
