Freestanding Office Building For
1515 S Wayne Rd Westland, MI 48186
1515 S Wayne Rd, Westland, MI, 48186
Contact for pricing
For Sale
Contact for pricing
1,800 SF freestanding office building available for purchase.
Property Size1,800 SF
Price / SF$110.56
Days on Market3269
Property Features for 1515 S Wayne Rd
General Information
- Standard status
- Active
- Size
- 1,800 SF
- Property subtype
- Office
Listing agency
NAI Farbman Southfield
(248) 351-4367
Listed by
Brad Margolis · License #MI 6501371948
Source
Crexi
Added: Aug 9, 2017 Updated: Jul 6 at 8:12AM Checked: Jul 21 at 2:43PM
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 NAI Farbman Southfield
Investment Insights
Based on property information with market context.
This is a 1,800 square foot freestanding office building available for sale.
Key Highlights
- Freestanding Office Building
- 1,800 SF
- For Sale
Local Financial Insights For Office B
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 | $10.8k | $6.00 |
| − Vacancy | −$2.5k | −$1.41 |
| EGI | $8.3k | $4.59 |
| − OpEx | −$2.1k | −$1.15 |
| NOI | $6.2k | $3.44 |
1,800 SF · lease $6.00/SF/yr · vacancy 23.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$88.5K
$77.5K – $103.3K
NOI $6,197 @ 7.0% cap · market cap 3.11%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$333.3K
$291.6K – $388.8K
NOI $23,328 @ 7.0% cap · market cap 11.72%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Mindell Law
Law Firm
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - 1,800 SF freestanding office building available for purchase.
Where is this office building located?
The property is located at 1515 S Wayne Rd Westland, MI.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: Freestanding Office Building; 1,800 SF; For Sale
