$5,950,000
14290 Schaefer Hwy. & 14225 Schaefer Hwy., DETROIT, MI 48227
Current Rent **
$10,000+
Projected Rent **
$10,000+
2 DETROIT COMMERCIAL BUILDINGS!!!
14290 Schaefer current NOI is $480k annual, and in negotiations for leasing the remaining 20k square feet (should be signed this week) which will produce an additional $120k -annual plus NNN. Will be sold with a $600k NOI.
Price is $4.95M for this property address.
Below is the description for 14290 Schaefer Hwy, Detroit.
The bank appraisal for 14290 Schaefer Hwy, Detroit MI. 48227 came in at $6.9M.
14290 Schaefer Hwy, Detroit, MI 48227
2 buildings totaling approximate 55,000 SF sitting on 4.9 acres. The front building is approximate 20,239 SF, and the back building is approximate 35,000 SF.
The back building is rented out and the NOI is $39,962.75 per month.
The front building will be leased out and the NOI will be $10k monthly.
There are annual / Bi-annual increases to the existing leases.
The two tenants in the back have already invested close to $2M in their buildout. Kuzzbara who occupies approximate 30k SF has $1.3M in buildout of the first 12k SF space. The other 2 units will be built out every 6 months after business is fully operational. Both Tenants completed their build out and received their certificate of occupancy.
The small tenant occupying approximate 5k SF has invested a total of $900k in buildout for their space.
Below is the dropbox link for the due diligence for 14225 & 14290 Schaefer Hwy, Detroit, MI. 48227. The bank has appraised the building as is for $5.9M, and when construction completed at $6.9M.
We have installed a domestic water line to both buildings, and a fire suppression line to the back building.
We have installed a new roof and new decking in the front 20,239 SF building, and new roof in the front 5,000 square feet of the back building.
We installed interior and exterior lighting in both buildings and security cameras.
We paid DTE Energy to bring approximate 4,000 amps of power in the back building, and the electrician installed all new electrical panels and wiring.
We installed a new smart front security gate with cameras and remote entry.
We installed entry and garage doors in both buildings.
*********************************************************************************
14225 Schaefer Hwy, Detroit, MI. 48227
Price is $999k for this property address. We are looking for a quick cash sale. Lots of equity!
This is a 44k Sf building that was formally used for a corporate storage facility. This building can lease between $5 - $8 PSF. The building needs exterior renovation of costing approximately $200k. Renovations include a new asphalt parking lot, remodel the facade for front and side entrances, paint entire exterior of building, new windows, and exterior lighting. We recently completed a BPO in January 2024 which is attached in the due diligence link. The BPO cam in at $1.8M as is with no renovation..
Below is the drop box link for both properties.
https://www.dropbox.com/scl/fo/586g9a3tgk961basy3sic/h?rlkey=ngqdtjy0yso0xq3u3l5icpli6&dl=0
Location:
14290 Schaefer Hwy. & 14225 Schaefer Hwy., DETROIT, MI 48227
Report Abuse
* The cap rate and cash on cash return calculations found on BiggerPockets Listings are estimated and designed to be used for informational and educational purposes only, and when used alone, do not constitute investment advice. They assume 3 months worth of expenses and estimate taxes and insurance. BiggerPockets recommends that you seek the advice of a real estate professional before making any type of investment. The results presented may not reflect the actual return of your own investments. BiggerPockets is not responsible for the consequences of any decisions or actions taken in reliance upon or as a result of the information provided by these tools. Furthermore, BiggerPockets is not responsible for any human or mechanical errors or omissions.
** Current rent and projected rent are provided by the lister.
† Rental comps are pulled by looking at property characteristics (beds, baths, structure type), date the rent listing was captured, and proximity to the searched location.
‡ Confidence levels range from low to very high. Confidence is determined by the number of recent and relevant comparable properties for any given search. A very high confidence level indicates a high number of recent and similar rental listings.
Only paying BiggerPockets members can do this!
Upgrade your account to a Pro membership to finish uploading your listing.
Pro Marketplace Benefits
- List up to 2 properties a day under Real Estate Listing
- Re-port your Real Estate Listing every 5 days
- Create job & buying ads in the Marketplace
Additional Pro Benefits
- Unlimited use & access to Rental Property Calculator
- Over $5,000 worth of discounts in Pro Perks
- Access to 50 states & DC landlord forms
- Forum Keyword Alerts
- And more!