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    The Largest CRE Database in the US with Over 1 Million Listings

    15400-15450 Schaefer Rd Detroit, MI 48227

    Sponsored
    For Sale
    $395,000

    Real Estate Only - Detroit, MI

    Property size:
    2,440 SF
    Lot size:
    0.67 Acres
    Days on Market:
    33
    Last Refresh:
    Feb 1 at 1:06 pm

    Property Features for 15400-15450 Schaefer Rd

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Light Industrial
    APN
    W22I029960C2
    Size
    2,440 SF
    Lot size
    0.67 Acres

    Building Details

    Year built
    1970
    Year renovated
    2020
    Floors in Building
    1
    Building materials
    Block
    Roof type
    Rubber
    Architectural style
    Other

    We can help!

    Listing Contact
    Fadi Dabaja
    Fadi Dabaja

    eXp Realty (888) 501-7085

    Listing agent Fadi Dabaja (888) 501-7085

    Listing date Dec 31, 2025

    MLS# 20250022969 Listing URL

    Copyright © 2026 Realcomp Limited II. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Detroit Commercial Property on Corner

    Located on a 0.67-acre corner lot in Detroit, this commercial property at 15400 Schaefer Hwy offers 2,440 square feet of finished space. The property is zoned for light industrial use, accommodating various business types, including retail, office, service, warehouse, and automotive operations. Remodeled in 2020, the building features a rubber roof, block exterior, and central air. It is equipped with 3-phase and 440-volt power, fire sprinklers, security fencing, and video surveillance. Ample on-site and on-street parking is available, including alley access. The property benefits from public water and sewer, a fenced perimeter, and zoning that allows for outbuildings and sheds. Situated in an active west side corridor, the site is surrounded by established commercial businesses and is located minutes from Grand River Ave, Rosedale Park, and the University of Detroit Mercy. The property has 265 feet of road frontage and is positioned on a high-visibility corridor. Additionally, a 0.19-acre vacant corner lot with 84 feet of paved road frontage and alley access is available for purchase. Public utilities are accessible at the street, and the lot is enhanced by surrounding sidewalks and street lighting.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Kathy’s Kitchen,LLC, SALLYS WORLD CAFE LLC

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.1931
    Latitude
    42.3872

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    FAQs

    What type of property is this?
    Flex space - Versatile commercial property on 0.67 acres in Detroit.
    Where is this flex space located?
    The property is located at 15400-15450 Schaefer Rd Detroit, MI.
    What is the asking price?
    The asking price for this property is $395,000.
    What are key features of this property?
    This property features: - High-visibility 0.67-acre corner lot with 265 feet of road frontage.; - Versatile light industrial zoning supports various businesses.; - Recently remodeled (2020) 2,440 sq. ft. building with rubber roof, central air, fire sprinklers, and security features.
    (313) 600-6189
    Request Owner's contact information
    15400-15450 Schaefer Rd Detroit, MI 48227
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    Detroit, MI 48227
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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.

    More about this property
    15400-15450 Schaefer Rd Detroit, MI 48227
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    We can help!
    Listing Contact
    Fadi Dabaja
    Fadi Dabaja
    Real Estate License ID: 6506045188
    (313) 600-6189
    Learn more
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