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    18250 WEAVER Street Detroit, MI 48228

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    For Sale
    $2,650,000

    MULTI_FAMILY - Colonial - Detroit, MI

    Property size:
    19,557 SF
    Price / SF:
    $135/SF
    Added:
    May 9, 2025
    Days on Market:
    365
    Last Refresh:
    May 8 at 10:06 am

    Property Features for 18250 WEAVER Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Commercial,Multi-Family
    Bedrooms
    34
    Bathrooms
    40
    Rooms
    Bathroom 16, Bedroom 4, Bathroom 23, Bathroom 31, Bedroom 7, Bathroom 14, Bathroom 40, Bedroom 29, Bedroom 2, Bedroom 6, Bedroom 21, Bedroom 13, Bedroom 15, Bathroom 4, Bedroom 16, Bedroom 9, Bathroom 10, Bathroom 25, Bedroom 28, Bathroom 2, Bathroom 36, Bathroom 12, Bathroom 21, Bedroom 11, Bathroom 7, Bathroom 39, Bedroom 5, Bathroom 28, Bathroom 29, Bedroom 3, Bedroom 27, Bedroom 32, Bathroom 11, Bathroom 20, Bathroom 24, Bathroom 34, Bedroom 23, Bathroom 18, Bedroom 30, Bathroom 22, Bedroom 25, Bedroom 12, Bathroom 8, Bedroom 10, Bathroom 3, Bedroom 8, Bathroom 5, Bathroom 32, Bedroom 17, Bathroom 9, Bedroom 22, Bathroom 15, Bedroom 34, Bathroom 1, Bedroom 1, Bedroom 24, Bathroom 6, Bathroom 30, Bedroom 18, Bedroom 19, Bedroom 20, Bathroom 38, Bedroom 33, Bathroom 26, Bathroom 17, Bathroom 37, Bathroom 19, Bathroom 35, Bathroom 13, Bathroom 33, Bathroom 27, Bedroom 14, Bedroom 31, Bedroom 26
    Parking
    50
    Pets allowed
    Call
    Interior features
    Utility Smart Meter
    Standard status
    Active
    APN
    W22I068255C61
    Size
    19,557 SF

    Taxes and HOA fees

    Tax Description
    N E WEAVER 291 THRU 296 AND VAC ALLEYS ADJ ALSO THAT PT VAC PORTION ROSEMONT AVE ADJ EMERSON PARK SUB L55 P45 PLATS, W C R 22/322 38,751 SQ FT
    Tax Annual Amount
    48402

    Utilities

    Heating system
    Space Heater

    Building Details

    Year built
    1969
    Floors in Building
    3
    Number of units
    40
    Building materials
    Brick, Brick Veneer
    Architectural style
    Colonial

    We can help!

    Listing Contact
    Lila Mircholi

    Listing agent Lila Mircholi

    Listing office Golden Key Realty Group LLC 1120 E Long Lake Ste 201, Troy, MI

    Listing date May 9, 2025

    MLS# 20250033930 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.

    HighLights

    • Turnkey 40‑unit multifamily asset, fully occupied.
    • Top Cap Rate Potential.
    • Prime Detroit location, near shopping and Dearborn Heights.
    • Fully remodeled with modernized units and refreshed common areas.
    • Updated mechanicals.
    • High‑yield investment opportunity.

    Overview

    Turnkey Multifamily Investment Opportunity

    This is a fully remodeled 40-unit multifamily asset located in Detroit, adjacent to Dearborn Heights and minutes from major shopping districts. The property has undergone a full transformation, featuring modernized units, updated mechanicals, and refreshed common areas. The property size is 19557 square feet. The zoning is Commercial and Multi-Family. This property presents a turnkey opportunity for a new owner to capitalize on rising demand and long-term wealth creation through lease-up and management.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.218948
    Latitude
    42.367935

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    FAQs

    What type of property is this?
    Apartment building - Fully occupied, remodeled 40-unit multifamily property in prime Detroit location.
    Where is this apartment building located?
    The property is located at 18250 WEAVER Street Detroit, MI.
    What is the asking price?
    The asking price for this property is $2,650,000.
    What are key features of this property?
    This property features: Turnkey 40‑unit multifamily asset, fully occupied.; Top Cap Rate Potential.; Prime Detroit location, near shopping and Dearborn Heights.
    (248) 422-6962
    We can help!
    Listing Contact
    Lila Mircholi
    Learn More
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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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