Most commercial real estate investors use a formula based on Net Operating Income to determine the value of the building. The listing shows an NOI of 575,000, which would give the building a value of 5-7 million.

$11 million is still way too high of an asking price, but it's clear the Stott has some value. It's not vacant yet. Hell, if the buyer could get it to 50% occupancy they'd start doing pretty well for themselves. That's obviously a big "if" with with a lot of space still available in buildings like One Detroit Center and the Penobscot, but it's certainly posssible.