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    2221-2241 Bellevue St Detroit, MI 48207

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    For Lease
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    Detroit, MI: Executive Suites & Warehouse Space Available

    Lot size:
    45,000 SF

    Property Features for 2221-2241 Bellevue St

    General Information

    Property type
    Distribution centers
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    45,000 SF
    Class
    A
    Total Rate
    22500

    Building Details

    Year Built/Renovated
    1915/2021

    Spaces For Lease

    at 2221-2241 Bellevue St, Detroit, MI 48207 Contact us
    Unit 20,000 SF Industrial Space

    $6 /Mo

    Size
    20,000 SF
    Contact us

    We can help!

    Listing Contact
    Ryan Stipp
    Ryan Stipp

    Listing Agency: Friedman Real Estate Listing Agent: Ryan Stipp

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional Class A property, located at 2221-2241 Bellevue Street in Detroit, Michigan, offers a unique blend of executive office and warehouse space. The building, totaling 45,000 square feet, sits on a generous 2.02-acre lot (APN 15-013271) and boasts a prime location in Wayne County, zip code 48207. Originally constructed in 1915 and extensively renovated in 2021, this property provides modern amenities within a historically significant structure. Currently, 25,000 square feet of space is available, with a minimum divisible unit of 5,000 square feet, allowing for flexibility to accommodate various business needs. The warehouse component features impressive 56-foot ceiling heights and two dock-high doors, ideal for efficient loading and unloading. The property is zoned M-4, providing ample opportunities for a variety of industrial and commercial uses. This versatile property is perfect for businesses seeking a combination of executive office space and substantial warehouse capacity in a thriving Detroit location. Contact us today to learn more about leasing opportunities and explore the potential of this remarkable property.
    Property Profile Location Intelligence

    Current Use by Public Records

    Distribution centers

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.0131051
    Latitude
    42.3551348

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    FAQs

    What type of property is this?
    Distribution center - Detroit, MI: Executive Suites & Warehouse Space Available
    Where is this distribution center located?
    The property is located at 2221-2241 Bellevue St Detroit, MI.
    What is the lease rate?
    The lease rate is $6 SF/Yr.
    What are key features of this property?
    This property features: 45,000 SF Class A building for sale, 25,000 SF available for lease.; $3,050,000 sale price ($67.77/SF).; 2020 renovation: $1,050,000 invested in upgrades.
    (248) 848-4149 Call to check price and availability
    Request Owner's contact information
    2221-2241 Bellevue St Detroit, MI 48207
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    Detroit, MI 48207
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    2221-2241 Bellevue St Detroit, MI 48207
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    Contact for Pricing
    Please call us for current price
    and status of this listing Ryan Stipp
    Ryan Stipp
    Real Estate License ID: MICHIGAN6506047728
    (248) 848-4149
    Learn more
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