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    20263 Hoover St Detroit, MI 48205

    Sponsored
    For Sale
    $5,050,000

    69,022 SF Warehouse, Rail Access, High Ceilings

    Property size:
    69,022 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 69,022-square-foot industrial property, located at 20263 Hoover Street in Detroit, Michigan, presents a compelling investment opportunity. The single-story building, constructed in 1953 and extensively renovated in 2019, sits on a 5.07-acre lot (APN 17013847) and boasts a desirable industrial zoning designation. The warehouse features 18-foot ceiling heights, four grade-level dock-high doors, and four 5-ton cranes, making it ideal for various industrial uses. Currently, two-thirds of the space is leased to a machinery storage tenant. The property also includes separate grow facilities with significant expansion potential, allowing for a doubling of production capacity. Further enhancing its appeal are rail access, heavy power, and a large fenced and paved parking area. The asking price is $5,050,000, translating to $73.17 per square foot. This property offers a unique blend of existing income and significant upside potential for future growth. The property's strategic location in Wayne County, with easy access to transportation infrastructure, adds to its overall value.

    Property Features for 20263 Hoover St

    General Information

    Property type
    Distribution properties
    Square Feet
    69,022 SF
    Lot Size
    220,849 SF

    Building Details

    Year Built/Renovated
    1953/2019
    Buildings
    1
    Stories
    1

    HighLights

    • 69,022 square feet available
    • 12‑18' clear height
    • Four grade‑level dock‑high doors
    • Four 5‑ton cranes
    • Industrially zoned
    • Extensive renovations and upgrades
    Property Profile Location Intelligence

    Current Use by Public Records

    Distribution centers

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.0061492
    Latitude
    42.446209

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    FAQs

    What type of property is this?
    Distribution property - 69,022 SF Warehouse, Rail Access, High Ceilings
    Where is this distribution property located?
    The property is located at 20263 Hoover St Detroit, MI.
    What is the asking price?
    The asking price for this property is $5,050,000.
    What are key features of this property?
    This property features: 69,022 square feet available; 12-18' clear height; Four grade-level dock-high doors
    Request Owner's contact information
    20263 Hoover St Detroit, MI 48205
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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
    20263 Hoover St Detroit, MI 48205
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