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13845 Elmira St Detroit, MI 48227-3016

OFF-MARKET Warehouses Google Maps
13,510 SF 0.55 ac lot Built 1949
Entity Owned 10-yr Hold Free & Clear
Estimated value (blended)
$455k
Range $410k – $501k (±10%)
Property ID US43-3114281

Property summary

AI-generated overview

This 13,000 square foot industrial property, located at 13845 Elmira St, Detroit, MI 48227, is offered at $250,000 ($19.23/SF). Built in 1938, this single-story, Class C building sits on a 23,767 square foot lot and features a 14-foot ceiling height and one dock-high door. Zoned M4, it boasts phase 3 electrical capacity, making it suitable for various uses including manufacturing, fulfillment, distribution, light assembly, or lab testing and inspections. The property is situated in a vintage industrial park on Detroit's west side, offering a quiet, low-traffic environment with a security presence. Ideal for an owner-operator seeking redevelopment potential. The roof is in good condition, inspected annually, and free of leaks. Available for occupancy June 1, 2023. This property presents a unique opportunity for a buyer seeking a versatile space with significant upside. The seller is motivated but not desperate. Don't miss this chance to acquire a flexible industrial space in a desirable location.

Property profile

Verified
Property type Warehouses
Use group WAREHOUSE, STORAGE
Year built 1949
Total area 13,510 SF
Lot 0.55 ac (23,958 SF)
Zoning code M4
APN 22004800.
UPID US43-3114281

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
$455k

Owner & transaction history

since 2016
2 recorded transactions
2016
Price N/A
2009
$70,000

Zoning & alternative use

M4 · Detroit, MI
Zoning description

ff. 5-28-2005) Sec. 50-7-4. - Industrial Districts. Industrial districts within the City are as follows: (1) M1 Limited Industrial District. (2) M2 Restricted Industrial District. (3) M3 General Industrial District. (4)…

General category INDUSTRIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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