New Center Retail
For Sale
$1,200,000
6532 Woodward Ave, Detroit, MI 48202
8,856 SF retail building in Detroit's New Center.
Property Size8,856 SF
Lot Size0.23 Acres
Price / SF$135.50
Days on Market144
Property Features for 6532 Woodward Ave
General Information
Standard status
Active
Size
8,856 SF
Lot size
0.23 Acres
Property subtype
Commercial
Building Details
Year Built
1928
Listing Agency:
O'Connor Realty Detroit, LLC
(313) 963-9891
Listed By:
Vincent Mazzola · License #6501387170
(313) 963-9891
Source:
Elliman
Added: Mar 12
Changed: Jul 6
Last Checked: Jul 6 at 12:14PM
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 O'Connor Realty Detroit, LLC
Investment Insights
Based on property information with market context.
Located on Woodward Avenue in New Center, this 8,856-square-foot retail building was originally constructed as the home of Sanders Fudge. The property features an original marble façade with glass storefronts, exposed brick walls, and concrete floors. A barrel-vault ceiling with ornamental plasterwork is present, which may be restored or removed to create additional ceiling height. The basement consists of 7,921 square feet with 12-foot ceilings. There is also 1,401 square feet of outdoor space. The building is located near Baobab Fare, YumVillage, Supino, Joe Louis Southern Kitchen, the Fisher Building, and the new Henry Ford Hospital expansion.
Key Highlights
- Prime location on Woodward Avenue in New Center, near popular restaurants and landmarks.
- Substantial 8,856‑square‑foot retail building with an additional 7,921‑square‑foot basement featuring 12‑foot ceilings.**
- Unique architectural details including an original marble façade with glass storefronts, exposed brick walls, and a barrel‑vault ceiling with ornamental plasterwork.**
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $164.7k | $18.60 |
| − Vacancy | −$8.9k | −$1.00 |
| EGI | $155.8k | $17.60 |
| − OpEx | −$46.7k | −$5.28 |
| NOI | $109.1k | $12.32 |
8,856 SF · lease $18.60/SF/yr · vacancy 5.40% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.56M
$1.36M – $1.82M
NOI $109,079 @ 7.0% cap · market cap 9.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.95M
$1.71M – $2.28M
NOI $136,757 @ 7.0% cap · market cap 11.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
591
Businesses Nearby
27k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 93%
Electronics 3%
Dining 3%
Family Dollar
Shops & Services
8,807 visits/mo
0.1 miles
Citgo
Shops & Services
6,019 visits/mo
0.2 miles
Marathon
Shops & Services
5,284 visits/mo
0.3 miles
Mobil
Shops & Services
4,652 visits/mo
0.1 miles
Metro by T-Mobile
Electronics
958 visits/mo
0.1 miles
Demographics for 48202, MI
17,260
Population
10,078
Households
1.7
Avg Household Size
32
Median Age
38%
College-Educated
91%
High-School Grad
3.4 sq mi
ZIP Area
5,076
Density / Sq Mi
$36,536
Median Household Income
$31,725
Median Earnings
$894
Median Rent
$193,700
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.
Similar Off Market Nearby
- Flowers Deborah S — 2799 W Grand Blvd # K9, Detroit, MI 48202, United States
- Michael B. Anthony — 1600 Clay St #142, Detroit, MI 48211
- Eloquent Petals & Blumz Florist — 2868 E Grand Blvd, Detroit, MI 48202
- LaShee Floral & Events — 3031 E Grand Blvd, Detroit, MI 48202, United States
- Brazelton's Floral — 2686 W Grand Blvd, Detroit, MI 48208
Frequently Asked Questions
What type of property is this?
Storefront property - 8,856 SF retail building in Detroit's New Center.
Where is this storefront property located?
The property is located at 6532 Woodward Ave Detroit, MI.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Prime location on Woodward Avenue in New Center, near popular restaurants and landmarks.; Substantial 8,856‑square‑foot retail building with an additional 7,921‑square‑foot basement featuring 12‑foot ceilings.**; Unique architectural details including an original marble façade with glass storefronts, exposed brick walls, and a barrel‑vault ceiling with ornamental plasterwork.**
