Mixed-Use Live/Work
For Sale
Contact for pricing
120 Tecumseh Street, Dundee, MI 48131
Street-level open space with kitchen and restroom, plus an upstairs apartment for flexible owner or rental use.
Property Size1,430 SF
Price / SF$195.59
Days on Market303
Property Features for 120 Tecumseh Street
General Information
Standard status
Active
Size
1,430 SF
Property subtype
Multifamily, Office
Listing Agency:
KW Commercial GR East
(313) 460-9171
Listed By:
Hiba Saad · License #6501415190
Source:
Crexi
Added: Oct 14, 2025
Changed: Aug 8
Last Checked: Aug 11 at 6:06PM
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 KW Commercial GR East
Investment Insights
Based on property information with market context.
This mixed-use live/work building offers a spacious, open main level designed as a customizable blank canvas for a business. The street level includes a kitchen and restroom to support everyday operations without requiring interior build-out from scratch. Upstairs, the property features an apartment that can be used for owner occupancy or rented out for additional income.
Located in Downtown Dundee, the building sits directly across from the City Square. Its street-level presence supports visibility for commercial use, while the upstairs living unit provides a built-in second option for residents or tenants.
For entrepreneurs or operators, the layout supports a range of street-facing business concepts, with the practical convenience of an on-level restroom and kitchen. For buyers seeking versatility, the combination of a commercial-ready main floor and an additional apartment allows one property to serve both workplace and living needs, or workplace and rental income, depending on how you structure the occupancy.
Located in Downtown Dundee, the building sits directly across from the City Square. Its street-level presence supports visibility for commercial use, while the upstairs living unit provides a built-in second option for residents or tenants.
For entrepreneurs or operators, the layout supports a range of street-facing business concepts, with the practical convenience of an on-level restroom and kitchen. For buyers seeking versatility, the combination of a commercial-ready main floor and an additional apartment allows one property to serve both workplace and living needs, or workplace and rental income, depending on how you structure the occupancy.
Key Highlights
- Street‑level open space with kitchen and restroom in the Downtown Dundee area
- Upstairs apartment provides flexible owner occupancy or rental income
- Located in Downtown Dundee directly across from the City Square
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
$19,305
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
6.90%
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%
$386,100
$386.1K
Cap Rate 7%
$275,786
$275.8K
Cap Rate 9%
$214,500
$214.5K
Market Conditions
NOI Build-Up for 1,430 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
$34.3K $24.00/SF
− Vacancy
−$3.4K −$2.40/SF
EGI
$30.9K $21.60/SF
− OpEx
−$11.6K −$8.10/SF
NOI
$19.3K $13.50/SF
Area
Monroe County, MI
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$386,100
Cap Rate 7%
$275,786
Cap Rate 9%
$214,500
Alternative Uses
Best Use
Mixed Use
$275.8K
$241.3K – $321.8K
NOI $19,305 @ 7.0% cap · market cap 6.90%
Second Best
Office B
$227.0K
$198.7K – $264.9K
NOI $15,892 @ 7.0% cap · market cap 5.68%
Theoretical Best
Warehouse
$1.47M
$1.29M – $1.72M
NOI $103,240 @ 7.0% cap · market cap 36.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
202
Businesses Nearby
Explore this area
Business Placement
Demographics for 48131, MI
8,126
Population
3,838
Households
2.1
Avg Household Size
37
Median Age
33%
College-Educated
95%
High-School Grad
50.1 sq mi
ZIP Area
162
Density / Sq Mi
$81,386
Median Household Income
$47,535
Median Earnings
$1,112
Median Rent
$246,300
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - Street-level open space with kitchen and restroom, plus an upstairs apartment for flexible owner or rental use.
Where is this live-work space located?
The property is located at 120 Tecumseh Street Dundee, MI.
What is the asking price?
The asking price for this property is $279,700.
What are key features of this property?
This property features: Street‑level open space with kitchen and restroom in the Downtown Dundee area; Upstairs apartment provides flexible owner occupancy or rental income; Located in Downtown Dundee directly across from the City Square
