Warehouse on 5.29
For Sale
Contact for pricing
28486 Beverly, Romulus, MI 48174
4,000 sq ft warehouse with land in Airport District.
Property Size4,000 SF
Lot Size5.29 Acres
Price / SF$173.75
Days on Market3458
Property Features for 28486 Beverly
General Information
Standard status
Active
Size
4,000 SF
Lot size
5.29 Acres
Property subtype
Industrial
Building Details
Year Built
1982
Listing Agency:
NAI Farbman Southfield
Listed By:
John Harwood · License #MI 6502136733
(734) 755-0488
Source:
Crexi
Added: Apr 19, 2017
Changed: Sep 26
Last Checked: Oct 5 at 3:24PM
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 property features a 4,000 square foot warehouse situated on 5.29 acres of land. It is located in the Airport District.
Key Highlights
- 4000 sq ft warehouse
- 5.29 acres of land
- Located in the airport district
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,146
Cap Rate
3.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$502,920
$502.9K
Cap Rate 7%
$359,229
$359.2K
Cap Rate 9%
$279,400
$279.4K
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$30.7K $7.68/SF
− Vacancy
−$1.1K −$0.28/SF
EGI
$29.6K $7.40/SF
− OpEx
−$4.4K −$1.11/SF
NOI
$25.1K $6.29/SF
Area
Wayne County, MI
Vacancy
3.70%
Lease Rate
$7.68 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$502,920
Cap Rate 7%
$359,229
Cap Rate 9%
$279,400
Alternative Uses
Best Use
Warehouse
$359.2K
$314.3K – $419.1K
NOI $25,146 @ 7.0% cap · market cap 3.62%
Second Best
Industrial
$295.8K
$258.9K – $345.1K
NOI $20,708 @ 7.0% cap · market cap 2.98%
Theoretical Best
Specialty Retail
$740.6K
$648.0K – $864.0K
NOI $51,840 @ 7.0% cap · market cap 7.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
195
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48174, MI
33,683
Population
13,124
Households
2.6
Avg Household Size
38
Median Age
17%
College-Educated
89%
High-School Grad
40.8 sq mi
ZIP Area
826
Density / Sq Mi
$65,675
Median Household Income
$41,186
Median Earnings
$1,053
Median Rent
$151,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Warehouse - 4,000 sq ft warehouse with land in Airport District.
Where is this warehouse located?
The property is located at 28486 Beverly Romulus, MI.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: 4000 sq ft warehouse; 5.29 acres of land; Located in the airport district
