Office Building with Rear
For Sale
$225,000
5455 S Wayne Road, Wayne, MI 48184
Commercial Sale, Wayne, MI
Property Size2,880 SF
Lot Size0.16 Acres
Price / SF$78.13
Days on Market119
Property Features for 5455 S Wayne Road
General Information
Property type
Commercial Sale
Property subtype
Office
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bathroom 2, Bathroom 4, Bathroom 3
Interior features
Broadband
Elementary school district
Wayne-Westland
Middle school district
Wayne-Westland
High school district
Wayne-Westland
Standard status
Active
APN
55-016-05-0101-311
Size
2,880 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
32Q101B2A1B,B2B1 PT OF LOT 101 BEG S 89D 45M 12S E 16.02 FT FROM SW COR OF LOT 101 TH S 89D 45M 12S E 88.13 FT TH DUE N
Tax Annual Amount
5800
Legal Description
32Q101B2A1B,B2B1 PT OF LOT 101 BEG S 89D 45M 12S E 16.02 FT FROM SW COR OF LOT 101 TH S 89D 45M 12S E 88.13 FT TH DUE N
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1973
Number of units
1
Roof type
Rubber
Listing Agency:
Majestic Homes & Investments
Listed By:
Tonya Emery · License #0640035
(248) 752-6393
Added: May 18
Changed: Sep 12
Last Checked: Sep 13 at 6:06AM
MLS# 26023100
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,880-square-foot office building occupies a 0.16-acre parcel and was constructed in 1973. Formerly used as a church, the property includes four bathrooms, vinyl flooring, drop ceilings, large windows, forced-air heating, central air, and a rubber roof. Broadband and cable service are available, supporting a range of office and commercial uses.
Rear parking provides on-site access for staff and visitors. The property is located on S Wayne Road in Wayne, near I-94, I-275, and Telegraph Road, with Detroit Metro Airport only minutes away. Its central Wayne location places major transportation routes within convenient reach.
Rear parking provides on-site access for staff and visitors. The property is located on S Wayne Road in Wayne, near I-94, I-275, and Telegraph Road, with Detroit Metro Airport only minutes away. Its central Wayne location places major transportation routes within convenient reach.
Key Highlights
- 2,880‑square‑foot office building on a 0.16‑acre parcel
- Former church building with four bathrooms
- Large windows, vinyl flooring, and drop ceilings
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$9,914
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.41%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$198,280
$198.3K
Cap Rate 7%
$141,629
$141.6K
Cap Rate 9%
$110,156
$110.2K
Market Conditions
NOI Build-Up for 2,880 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$17.3K $6.00/SF
− Vacancy
−$4.1K −$1.41/SF
EGI
$13.2K $4.59/SF
− OpEx
−$3.3K −$1.15/SF
NOI
$9.9K $3.44/SF
Area
Wayne County, MI
Vacancy
23.50%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$198,280
Cap Rate 7%
$141,629
Cap Rate 9%
$110,156
Alternative Uses
Best Use
Office B
$141.6K
$123.9K – $165.2K
NOI $9,914 @ 7.0% cap · market cap 4.41%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$533.2K
$466.6K – $622.1K
NOI $37,325 @ 7.0% cap · market cap 16.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
227
Businesses Nearby
Explore this area
Business Placement
Demographics for 48184, MI
17,776
Population
7,739
Households
2.3
Avg Household Size
40
Median Age
16%
College-Educated
88%
High-School Grad
7.2 sq mi
ZIP Area
2,469
Density / Sq Mi
$54,572
Median Household Income
$36,548
Median Earnings
$924
Median Rent
$142,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Former church building with natural light, four bathrooms, and flexible interior features for office or commercial occupancy.
Where is this office building located?
The property is located at 5455 S Wayne Road Wayne, MI.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 2,880‑square‑foot office building on a 0.16‑acre parcel; Former church building with four bathrooms; Large windows, vinyl flooring, and drop ceilings
