Free-Standing Office
12062 BROADSTREET Avenue Detroit City, Wayne, MI 48204
For Sale
$249,800
Standalone office building with land contract availability, positioned near the Boston-Edison Historic District.
Property Size3,000 SF
Price / SF$83.27
Days on Market642
Property Features for 12062 BROADSTREET Avenue Detroit City
General Information
Standard status
Size
Property subtype
Taxes and HOA fees
Annual Taxes
Building Details
Year Built
Listing Agency:
Keller Williams Legacy
(313) 752-0000
Listed By:
Hassan Zein · License #6501439099
(313) 415-0287
Source:
Exitrealty
Added: Feb 4, 2025
Changed: Nov 6
Last Checked: Aug 24 at 3:38AM
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 Keller Williams Legacy
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This free-standing office building offers a standalone configuration for an owner-user or business operator. The property is listed with 3,396 square feet of space and is presented as a standalone structure suitable for office-focused uses.
The building is located at 12062 Broadstreet Avenue in Detroit, MI 48204. The listing notes that the property sits one block from the Boston-Edison Historic District, and it is marketed as being in a high-traffic, visibility-oriented area.
For buyers considering an acquisition, the seller has indicated that a land contract may be available, subject to terms discussed with the listing agent. The standalone footprint can support tenants or operations that prefer an independent building rather than a shared suite arrangement, while the proximity to the Boston-Edison Historic District may be relevant for office users looking for a recognizable nearby area.
The building is located at 12062 Broadstreet Avenue in Detroit, MI 48204. The listing notes that the property sits one block from the Boston-Edison Historic District, and it is marketed as being in a high-traffic, visibility-oriented area.
For buyers considering an acquisition, the seller has indicated that a land contract may be available, subject to terms discussed with the listing agent. The standalone footprint can support tenants or operations that prefer an independent building rather than a shared suite arrangement, while the proximity to the Boston-Edison Historic District may be relevant for office users looking for a recognizable nearby area.
Key Highlights
- 3,000 SF free‑standing office building
- Year built: 1926
- Land contract available (contact listing agent for details)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,328
Cap Rate
4.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$206,560
$206.6K
Cap Rate 7%
$147,543
$147.5K
Cap Rate 9%
$114,756
$114.8K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$18.0K $6.00/SF
− Vacancy
−$4.2K −$1.41/SF
EGI
$13.8K $4.59/SF
− OpEx
−$3.4K −$1.15/SF
NOI
$10.3K $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 Rate 5%
$206,560
Cap Rate 7%
$147,543
Cap Rate 9%
$114,756
Alternative Uses
Best Use
Office B
$147.5K
$129.1K – $172.1K
NOI $10,328 @ 7.0% cap · market cap 4.13%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$555.4K
$486.0K – $648.0K
NOI $38,880 @ 7.0% cap · market cap 15.56%
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
361
Businesses Nearby
Explore this area
Business Placement
Demographics for 48204, MI
21,738
Population
13,691
Households
1.6
Avg Household Size
37
Median Age
10%
College-Educated
83%
High-School Grad
5.0 sq mi
ZIP Area
4,348
Density / Sq Mi
$32,875
Median Household Income
$26,701
Median Earnings
$970
Median Rent
$53,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Office buildings in Wayne County, MI
Properties on Market for Office buildings in Wayne County
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - Standalone office building with land contract availability, positioned near the Boston-Edison Historic District.
Where is this office building located?
The property is located at 12062 BROADSTREET Avenue Detroit City Wayne, MI.
What is the asking price?
The asking price for this property is $249,800.
What are key features of this property?
This property features: 3,000 SF free‑standing office building; Year built: 1926; Land contract available (contact listing agent for details)
