Freestanding Flex
New
For Sale
$1,100,000
1170 Mason Street, Dearborn, MI 48124
Commercially zoned facility with adaptable interior space and a sizable parcel in Dearborn.
Property Size5,450 SF
Price / SF$203.70
Days on Market4
Property Features for 1170 Mason Street
General Information
Standard status
Active
Size
5,450 SF
Property subtype
Commercial
Zoning
Commercial
Additional Details
Land Use
commercial
Taxes and HOA fees
Annual Taxes
$11,009
Building Details
Building Size
5,450 SF
Year Built
1961
Listing Agency:
Century 21 Curran & Oberski
(313) 274-7200
Listed By:
Ali T Charara · License #6501340600
Source:
Thebrokeragehouse
Added: Aug 4
Changed: Aug 6
Last Checked: Aug 6 at 1:03PM
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 Century 21 Curran & Oberski
Investment Insights
Based on property information with market context.
This freestanding flex property at 1170 Mason Street in Dearborn, Michigan, provides over 5,400 square feet of commercial space on a spacious lot. The building dates to 1961 and offers a flexible format suited to a range of commercial operations, subject to applicable approvals and zoning requirements. The property is designated Commercial zoning.
The site is positioned among established businesses and shopping, with access to major thoroughfares serving the surrounding area. Its standalone configuration and substantial land component provide a practical base for an owner-user or commercial operator evaluating space in West Dearborn.
The site is positioned among established businesses and shopping, with access to major thoroughfares serving the surrounding area. Its standalone configuration and substantial land component provide a practical base for an owner-user or commercial operator evaluating space in West Dearborn.
Key Highlights
- Over 5,400 square feet of flexible commercial space
- Freestanding building on a spacious lot
- Commercial zoning designation
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
$47,511
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
4.32%
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%
$950,220
$950.2K
Cap Rate 7%
$678,729
$678.7K
Cap Rate 9%
$527,900
$527.9K
Market Conditions
NOI Build-Up for 5,400 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
$77.8K $14.40/SF
− Vacancy
−$4.7K −$0.86/SF
EGI
$73.1K $13.54/SF
− OpEx
−$25.6K −$4.74/SF
NOI
$47.5K $8.80/SF
Area
Dearborn, MI
Vacancy
6.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
35.00%
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%
$950,220
Cap Rate 7%
$678,729
Cap Rate 9%
$527,900
Alternative Uses
Best Use
Flex RnD
$678.7K
$593.9K – $791.9K
NOI $47,511 @ 7.0% cap · market cap 4.32%
Second Best
Industrial
$452.7K
$396.1K – $528.2K
NOI $31,689 @ 7.0% cap · market cap 2.88%
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,388 @ 7.0% cap · market cap 7.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,447
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48124, MI
34,134
Population
14,787
Households
2.3
Avg Household Size
39
Median Age
40%
College-Educated
94%
High-School Grad
8.8 sq mi
ZIP Area
3,879
Density / Sq Mi
$78,353
Median Household Income
$49,103
Median Earnings
$1,280
Median Rent
$192,100
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Commercially zoned facility with adaptable interior space and a sizable parcel in Dearborn.
Where is this flex space located?
The property is located at 1170 Mason Street Dearborn, MI.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Over 5,400 square feet of flexible commercial space; Freestanding building on a spacious lot; Commercial zoning designation
