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    1600-1634 Grand Blvd Detroit, MI 48211

    For Sale
    Contact for pricing

    166,041 SF Warehouse, 10% Cap Rate

    Property size:
    166,041 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional 166,041-square-foot warehouse in Detroit, Michigan, presents a compelling value-add investment opportunity. Currently 89.72% occupied with modified gross rents averaging $6.00 per square foot, this property offers immediate cash flow potential. Near-term upside exists through lease conversions to triple-net structures. Strategically located on a 3-acre site just one block from I-94's on/off ramps, this location provides unparalleled access to major transportation arteries. The property benefits from significant recent capital improvements, including new roofs (the oldest installed in 2016), parking lot repairs, and modernized HVAC systems, mitigating future maintenance concerns. Situated in the revitalizing Packard Plant corridor, across from a large GM assembly plant, this asset offers substantial long-term development potential while generating current income. The city's ongoing demolition of the Packard Plant is paving the way for significant future development in this prime industrial submarket. This is a rare chance to acquire a well-maintained, high-cash-flow warehouse with significant upside in a rapidly evolving Detroit location. The asking price is $31.30 per square foot, resulting in a 10% capitalization rate.

    Property Features for 1600-1634 Grand Blvd

    General Information

    Property type
    Distribution properties
    Square Feet
    166,041 SF

    HighLights

    • 166,041 SF warehouse in Detroit, MI, offering a 10% cap rate.
    • 89.72% occupied with below‑market modified gross rents, providing immediate cash flow and value‑add potential through triple‑net lease conversions.
    • Prime location in Detroit's Packard Plant Corridor, near I‑94 freeway access.
    • 3‑acre site with future development potential.
    • Recent capital improvements by ownership, including roof, parking lot, and HVAC systems.
    • Across I‑94 from a large GM assembly plant.
    Property Profile 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
    -83.0294037
    Latitude
    42.3786321

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    FAQs

    What type of property is this?
    Distribution property - 166,041 SF Warehouse, 10% Cap Rate
    Where is this distribution property located?
    The property is located at 1600-1634 Grand Blvd Detroit, MI.
    What are key features of this property?
    This property features: 166,041 SF warehouse in Detroit, MI, offering a 10% cap rate.; 89.72% occupied with below-market modified gross rents, providing immediate cash flow and value-add potential through triple-net lease conversions.; Prime location in Detroit's Packard Plant Corridor, near I-94 freeway access.
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    1600-1634 Grand Blvd Detroit, MI 48211
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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
    1600-1634 Grand Blvd Detroit, MI 48211
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