Detroit Office and Industrial
For Sale
Contact for pricing
18101-18111 E Warren Ave, Detroit, MI 48224
9,252 SF office and industrial space for sale.
Property Size9,252 SF
Price / SF$78.36
Days on Market1066
Property Features for 18101-18111 E Warren Ave
General Information
Standard status
Active
Size
9,252 SF
Property subtype
Office, Industrial
Zoning
B4
Building Details
Year Built
1953
Listing Agency:
Friedman Real Estate
Listed By:
Marc Hames · License #6501406533
Source:
Crexi
Added: Sep 21, 2023
Changed: Aug 14
Last Checked: Aug 20 at 7:38PM
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 Friedman Real Estate
Investment Insights
Based on property information with market context.
This commercial property, located in Detroit, Michigan, offers 9,252 square feet of office and industrial space. The property is suitable for office and industrial use.
Key Highlights
- Office space available, perfect for your business needs.
- Offers 9,252 SF of space.
- Built in 1953.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$49,888
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.88%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$997,760
$997.8K
Cap Rate 7%
$712,686
$712.7K
Cap Rate 9%
$554,311
$554.3K
Market Conditions
NOI Build-Up for 9,252 SF
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.
Gross rent
$75.5K $8.16/SF
− Vacancy
−$4.2K −$0.46/SF
EGI
$71.3K $7.70/SF
− OpEx
−$21.4K −$2.31/SF
NOI
$49.9K $5.39/SF
Area
ZIP 48224
Vacancy
5.60%
Lease Rate
$8.16 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$997,760
Cap Rate 7%
$712,686
Cap Rate 9%
$554,311
Alternative Uses
Best Use
Office B
$2.10M
$1.84M – $2.45M
NOI $146,935 @ 7.0% cap · market cap 20.27%
Second Best
Industrial
$712.7K
$623.6K – $831.5K
NOI $49,888 @ 7.0% cap · market cap 6.88%
Theoretical Best
Office A
$2.33M
$2.04M – $2.72M
NOI $163,356 @ 7.0% cap · market cap 22.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,115
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48224, MI
39,633
Population
16,786
Households
2.4
Avg Household Size
33
Median Age
14%
College-Educated
84%
High-School Grad
5.8 sq mi
ZIP Area
6,833
Density / Sq Mi
$42,963
Median Household Income
$30,997
Median Earnings
$1,213
Median Rent
$77,900
Median Home Value
Market
Vacancy Rate% for Office in Detroit, MI
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Conquer PC Mobile — 5094 Marseilles St, Detroit, MI 48224
Frequently Asked Questions
What type of property is this?
Office space - 9,252 SF office and industrial space for sale.
Where is this office space located?
The property is located at 18101-18111 E Warren Ave Detroit, MI.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Office space available, perfect for your business needs.; Offers 9,252 SF of space.; Built in 1953.
