Listing Agency: RE/MAX Dream Properties

Listed By: Glen L Brown · License #6501272277 Show Phone

Source: Katie-k

Added: Sep 12 Changed: Oct 26 Last Checked: Oct 7 at 1:34PM

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Investment Insights

Based on property information with market context.

The offering comprises a 4.54-acre, multi-parcel commercial land portfolio at 11400 E Jefferson Ave in Detroit. The property information identifies zoning diversity across the assemblage and outlines potential applications including retail and service centers, distribution or light industrial facilities, automotive-related businesses, workforce or market-rate housing, and mixed-use redevelopment.

The site is described as being minutes from I-94 and I-75, with proximity to the Detroit Riverfront. Its scale and parcel configuration provide a land platform for developers, investors, and end users evaluating commercial, industrial, residential, or mixed-use concepts.

Key Highlights

• 4.54‑acre multi‑parcel commercial land portfolio
• Zoning diversity across the assemblage
• Potential for retail and service center development

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$299,590

Cap Rate

7.49%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,991,800 $6.0M

Cap Rate 7%

$4,279,857 $4.3M

Cap Rate 9%

$3,328,778 $3.3M

Is this asking price fair?

Market Conditions

NOI Build-Up for 25,218 SF

Gross rent

$544.7K $21.60/SF

− Vacancy

−$65.4K −$2.59/SF

EGI

$479.3K $19.01/SF

− OpEx

−$179.8K −$7.13/SF

NOI

$299.6K $11.88/SF

Area

Detroit, MI

Vacancy

12.00%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,991,800

Cap Rate 7%

$4,279,857

Cap Rate 9%

$3,328,778

Alternative Uses

Best Use

Mixed Use

$4.28M

$3.74M – $4.99M (±1% cap)

NOI $299,590 @ 7.0% cap · market cap 7.49%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$5.56M

$4.87M – $6.49M (±1% cap)

NOI $389,423 @ 7.0% cap · market cap 9.74%

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

Herbology Clothing Co. Clothing Store

Suggested Use

Top Pick Real Estate Agency Law Firm Spa & Massage Center Hair Salon Parking Lot & Garage Nail Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

238

Businesses Nearby

Explore this area Business Placement

Demographics for 48214, MI

18,959

Population

13,279

Households

1.4

Avg Household Size

44

Median Age

27%

College-Educated

84%

High-School Grad

5.1 sq mi

ZIP Area

3,717

Density / Sq Mi

$34,807

Median Household Income

$36,625

Median Earnings

$818

Median Rent

$120,500

Median Home Value

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Frequently Asked Questions

What type of property is this?

Commercial land - Multi-parcel land assemblage with zoning diversity near major Detroit transportation routes.

Where is this commercial land located?

The property is located at 11400 E Jefferson Ave Detroit, MI.

What is the asking price?

The asking price for this property is $4,000,000.

What are key features of this property?

This property features: 4.54‑acre multi‑parcel commercial land portfolio; Zoning diversity across the assemblage; Potential for retail and service center development