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    3401 Martin St Detroit, MI 48210
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    Property profile & analytics

    3401 Martin St Detroit, MI 48210

    View on Map
    • Manufacturing properties
    • 170,953 SF
    • 10.66 lot acres
    For Lease
    $5 SF/Yr
    View Listing →
    Industrial Space with Rail Access For Lease
    $5 SF/Yr

    Industrial Space with Rail Access

    Fenced lot with rail, doors, wells, and crane.

    3401 Martin St, Detroit, MI 48210
    View Listing
    Property ID
    US43-0877241
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Manufacturing properties

    Property Details for 3401 Martin St

    Year built
    1960
    Lot size
    10.66 lot acres
    Property size
    170,953 SF
    Zone code
    M4
    Property type
    Manufacturing properties
    APN
    18001561-4
    APU
    180015614

    Description

    This exceptional Detroit industrial property, located at 3401 Martin St, 48210, offers a unique opportunity for businesses seeking flexible warehouse and/or manufacturing space. Situated on an expansive 11.58-acre fully fenced lot, this Class C property boasts significant advantages. The building features a versatile layout with multiple tenancy options, accommodating businesses of varying sizes, from 10,000 square feet to a substantial 170,000 square feet. The high ceilings, ranging from 10 to 16 feet, provide ample vertical space for storage and operations. Efficient loading and unloading are ensured by the presence of four loading docks and four drive-in doors. Heavy equipment needs are addressed by an installed 3-ton crane. The property's M-4 zoning allows for a wide range of industrial uses. Furthermore, the strategic location in Detroit, Michigan, offers convenient access to major transportation routes and a skilled workforce. On-site rail access adds another layer of logistical efficiency for businesses requiring rail transport. This property presents a compelling investment opportunity for companies seeking a well-equipped, strategically located industrial space in a thriving urban center. Contact us today to schedule a viewing and explore the possibilities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,427,000
      Market price range: $3.43M - $11.6M
      AI Estimate
      $3,543,000
      Market price range: $3.54M - $10.3M

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.1241
    Latitude
    42.324
    CBSA code
    19820
    CBSA name
    DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $22,150
    $0.00
    $0.00
    $1,105,500
    -
    $0.00
    $0.00
    $2,211,000

    Comparable in this City

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      145,490 SF

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      View Details
    • Value Estimation by Request
      1,800 SF

      7725 Warren Ave

      MANUFACTURING (LIGHT) • 1,800 SF
      7725 Warren Ave, Detroit, MI 48210-1046
      View Details
    • Value Estimation by Request
      11,976 SF

      7326 Mcdonald St

      MANUFACTURING (LIGHT) • 11,976 SF
      7326 Mcdonald St, Detroit, MI 48210-1064
      View Details
    • Value Estimation
      $4,145,000
      103,622 SF

      9100 John Kronk St

      MANUFACTURING (LIGHT) • 103,622 SF
      9100 John Kronk St, Detroit, MI 48210-2004
      View Details
    • Value Estimation by Request
      12,998 SF

      4300 Cabot St

      MANUFACTURING (LIGHT) • 12,998 SF
      4300 Cabot St, Detroit, MI 48210-2052
      View Details
    • Value Estimation by Request
      2,468 SF

      5021 Jct St

      MANUFACTURING (LIGHT) • 2,468 SF
      5021 Jct St, Detroit, MI 48210-2577
      View Details

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      75,105 SF

      Industrial Building with Expansion Potential

      75,105 SF industrial building on 10.52 acres for lease.
      2801 Clark St, Detroit, MI 48210
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      Secured Truck and Trailer Storage

      Fenced, lit lot near freeway, border, and railyard.
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      Industrial Space with Rail Access

      Fenced lot with rail, doors, wells, and crane.
      3401 Martin St, Detroit, MI 48210
      View Details
    • Contact for pricing

      Detroit Commercial Property For Rent

      Commercial property available for rent in Detroit, Michigan.
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    Detroit, MI 48210
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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.

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