Commercial Property with Fenced
For Sale
$190,000
1840 LAWNDALE Street, Detroit, MI 48209
Over 1000 square feet with fenced lot in Detroit.
Property Size1,017 SF
Lot Size0.05 Acres
Price / SF$186.82
Days on Market578
Property Features for 1840 LAWNDALE Street
General Information
Standard status
Active
Size
1,017 SF
Lot size
0.05 Acres
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$193
Building Details
Year Built
1942
Listing Agency:
Munoz Realty Inc
(313) 914-7545
Listed By:
Gaston Munoz · License #6501354648
(313) 914-7545
Source:
Exitrealty
Added: Jan 8, 2025
Changed: Aug 8
Last Checked: May 19 at 8:43PM
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 Munoz Realty Inc
Investment Insights
Based on property information with market context.
This commercial property offers over 1000 square feet of space and includes a fenced lot. According to city records, the last registered use for the property was as a body shop. The property offers various business options.
Key Highlights
- Over 1000 square feet of space
- Fenced lot
- Opportunity to have your own business
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
$12,526
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
6.59%
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%
$250,520
$250.5K
Cap Rate 7%
$178,943
$178.9K
Cap Rate 9%
$139,178
$139.2K
Market Conditions
NOI Build-Up for 1,017 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
$18.9K $18.60/SF
− Vacancy
−$1.0K −$1.00/SF
EGI
$17.9K $17.60/SF
− OpEx
−$5.4K −$5.28/SF
NOI
$12.5K $12.32/SF
Area
Detroit, MI
Vacancy
5.40%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
30.00%
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%
$250,520
Cap Rate 7%
$178,943
Cap Rate 9%
$139,178
Alternative Uses
Best Use
Retail
$178.9K
$156.6K – $208.8K
NOI $12,526 @ 7.0% cap · market cap 6.59%
Second Best
Industrial
$70.7K
$61.8K – $82.4K
NOI $4,946 @ 7.0% cap · market cap 2.60%
Theoretical Best
Office A
$224.4K
$196.3K – $261.8K
NOI $15,705 @ 7.0% cap · market cap 8.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
227
Businesses Nearby
26k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 68%
Shops & Services 32%
McDonald's
Dining
17,304 visits/mo
0.4 miles
BP
Shops & Services
3,579 visits/mo
0.4 miles
Mobil
Shops & Services
2,991 visits/mo
0.4 miles
Citgo
Shops & Services
1,723 visits/mo
0.3 miles
Demographics for 48209, MI
27,096
Population
11,020
Households
2.5
Avg Household Size
30
Median Age
10%
College-Educated
61%
High-School Grad
6.8 sq mi
ZIP Area
3,985
Density / Sq Mi
$42,152
Median Household Income
$30,091
Median Earnings
$843
Median Rent
$82,800
Median Home Value
Market
Vacancy Rate% for Retail in Detroit, MI
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Auto shop - Over 1000 square feet with fenced lot in Detroit.
Where is this auto shop located?
The property is located at 1840 LAWNDALE Street Detroit, MI.
What is the asking price?
The asking price for this property is $190,000.
What are key features of this property?
This property features: Over 1000 square feet of space; Fenced lot; Opportunity to have your own business
