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    Prime Retail Space Available Title is generated by Realmo AI

    3968 PELHAM Street, Dearborn Heights, MI 48125

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    For Lease
    $2,000/Mo $2 SF/Yr (calc)

    Real Estate Only - Dearborn Heights, MI

    Property size:
    9,821 SF
    Lot size:
    0.59 Acres
    Added:
    Feb 12, 2025
    Days on Market:
    463
    Last Refresh:
    May 21 at 2:06 pm

    Property Features for 3968 PELHAM Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    Commercial,Multiple
    Standard status
    Active
    APN
    33049010245302
    Size
    9,821 SF
    Lot size
    0.59 Acres

    Building Details

    Year built
    1960
    Year renovated
    2024
    Floors in Building
    1
    Building materials
    Block, Brick, Concrete
    Roof type
    Rubber
    Architectural style
    Other

    We can help!

    Listing Contact
    Fadi Dabaja
    Fadi Dabaja

    Listing agent Fadi Dabaja

    Listing office EXP Realty Main 39555 Orchard Hill Place Ste 600, Royal Oak, MI

    Listing date Feb 12, 2025

    MLS# 20250009443 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

    • High‑Traffic Location: Situated in the bustling Vinery Market Plaza, ensuring exceptional visibility and foot traffic.
    • Prime Location: Positioned next to the high‑volume Vinery Market and a newly opened BP gas station, maximizing customer exposure.
    • Signage Opportunities: Offers building signage opportunities for enhanced brand visibility.
    • Updated Infrastructure: Features a recently updated parking lot.
    • Strategic Location: Minutes from The Henry Ford Museum, Greenfield Village, Downtown West Dearborn, and the Ford Development Center.
    • Flexible Space Options: Available as two 1,200 sq. ft. spaces or a combined 2,400 sq. ft. option.

    Overview

    Located in the Vinery Market Plaza at 3968 Pelham Street, Dearborn Heights, MI 48125, this retail space offers an opportunity for businesses. Two 1,200 sq. ft. retail spaces are available, with the option to combine them for a total of 2,400 sq. ft. The location features visibility, high foot traffic, and building signage opportunities. The property has been updated with a new parking lot and is situated next to the Vinery Market and a newly opened BP gas station. The property benefits from strong area demographics and proximity to The Henry Ford Museum, Greenfield Village, Downtown West Dearborn, and the Ford Development Center. The retail hub is located in a growing commercial corridor. The property is zoned for commercial and multiple uses. The lot size is 0.59 acres, and the property size is 9821 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Dearborn Heights
    County
    Wayne
    State
    Michigan
    Longitude
    -83.2320424
    Latitude
    42.2823043

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    FAQs

    What type of property is this?
    Retail space - High-traffic retail space in Vinery Market Plaza.
    Where is this retail space located?
    The property is located at 3968 PELHAM Street Dearborn Heights, MI.
    What is the lease rate?
    The lease rate is $2,000 /Mo.
    What are key features of this property?
    This property features: High‑Traffic Location: Situated in the bustling Vinery Market Plaza, ensuring exceptional visibility and foot traffic.; Prime Location: Positioned next to the high‑volume Vinery Market and a newly opened BP gas station, maximizing customer exposure.; Signage Opportunities: Offers building signage opportunities for enhanced brand visibility.
    (313) 600-6189
    We can help!
    Listing Contact
    Fadi Dabaja
    Fadi Dabaja
    Real Estate License ID: 6501362745
    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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