Storefront
1030 N Wayne Rd, Westland, MI 48185
For Sale
$189,900
Established in 1962, this retail-oriented storefront offers a compact commercial format.
Property Size1,755 SF
Price / SF$108.21
Days on Market93
Property Features for 1030 N Wayne Rd
General Information
Standard status
Size
Building Details
Year Built
Listing Agency:
Brandt Real Estate
Listed By:
Keith Brandt · License #6502406949
(248) 756-2844
Source:
Katie-k
Added: Aug 8
Changed: Oct 30
Last Checked: Oct 26 at 9:03PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Brandt Real Estate
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Investment Insights
Based on property information with market context.
This storefront property contains 1,755 square feet and was constructed in 1962. The asset is identified as a retail space suitable for commercial occupancy.
The property is located at 1030 N Wayne Road in Westland, Michigan 48185.
The property is located at 1030 N Wayne Road in Westland, Michigan 48185.
Key Highlights
- 1,755‑square‑foot storefront property
- Constructed in 1962
- Located at 1030 N Wayne Road, Westland, MI 48185
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,629
Cap Rate
8.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$332,580
$332.6K
Cap Rate 7%
$237,557
$237.6K
Cap Rate 9%
$184,767
$184.8K
Market Conditions
NOI Build-Up for 1,755 SF
Gross rent
$25.3K $14.40/SF
− Vacancy
−$1.5K −$0.86/SF
EGI
$23.8K $13.54/SF
− OpEx
−$7.1K −$4.06/SF
NOI
$16.6K $9.48/SF
Area
Wayne County, MI
Vacancy
6.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$332,580
Cap Rate 7%
$237,557
Cap Rate 9%
$184,767
Alternative Uses
Best Use
Retail
$237.6K
$207.9K – $277.2K
NOI $16,629 @ 7.0% cap · market cap 8.76%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$324.9K
$284.3K – $379.1K
NOI $22,745 @ 7.0% cap · market cap 11.98%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
404
Businesses Nearby
66k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 47%
Superstores 27%
Dining 24%
Beauty & Spa 2%
Big Lots
Superstores
18,168 visits/mo
0.4 miles
Burger King
Dining
14,745 visits/mo
0.4 miles
Shell
Shops & Services
10,724 visits/mo
0.5 miles
Bank of America
Shops & Services
8,208 visits/mo
0.5 miles
BP
Shops & Services
3,914 visits/mo
0.1 miles
Demographics for 48185, MI
49,730
Population
23,554
Households
2.1
Avg Household Size
40
Median Age
23%
College-Educated
91%
High-School Grad
12.2 sq mi
ZIP Area
4,076
Density / Sq Mi
$59,085
Median Household Income
$40,435
Median Earnings
$1,123
Median Rent
$183,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Storefront properties in Wayne County, MI
Properties on Market for Storefront properties in Wayne County
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- Caesars Flowers — 238 N Wayne Rd, Westland, MI 48185
- Thrifty Florist — 35363 Ford Rd, Westland, MI 48185
- Kroger Floral — 36430 Ford Rd, Westland, MI 48185
Frequently Asked Questions
What type of property is this?
Storefront property - Established in 1962, this retail-oriented storefront offers a compact commercial format.
Where is this storefront property located?
The property is located at 1030 N Wayne Rd Westland, MI.
What is the asking price?
The asking price for this property is $189,900.
What are key features of this property?
This property features: 1,755‑square‑foot storefront property; Constructed in 1962; Located at 1030 N Wayne Road, Westland, MI 48185
