Mack Avenue Corner
For Sale
Contact for pricing
12950 Mack Ave, Detroit, MI 48215
Corner property with frontage, exposure, and a three-bay garage.
Property Size2,058 SF
Price / SF$121.43
Days on Market1241
Property Features for 12950 Mack Ave
General Information
Standard status
Active
Size
2,058 SF
Property subtype
Retail, Special Purpose
Zoning
Commerical
Lease Type
Gross
Building Details
Year Built
1950
Buildings
1
Stories
1
Units
1
Listing Agency:
Own It Realty
(313) 646-7363
Listed By:
Hassan Scheib · License #MI 6502399271
Source:
Crexi
Added: Apr 4, 2023
Changed: Aug 21
Last Checked: Aug 25 at 8:25PM
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 Own It Realty
Investment Insights
Based on property information with market context.
This property, located on the corner of Mack Avenue and Dickerson, offers frontage and exposure. It features a three-bay garage and may suit various uses. The property size is 2,058 square feet.
Key Highlights
- High‑visibility corner property with great frontage and exposure.
- Includes a 3‑bay garage.
- Land contract available.
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
$10,009
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
4.01%
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%
$200,180
$200.2K
Cap Rate 7%
$142,986
$143.0K
Cap Rate 9%
$111,211
$111.2K
Market Conditions
NOI Build-Up for 2,058 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
$15.1K $7.32/SF
− Vacancy
−$765 −$0.37/SF
EGI
$14.3K $6.95/SF
− OpEx
−$4.3K −$2.08/SF
NOI
$10.0K $4.86/SF
Area
Detroit, MI
Vacancy
5.08%
Lease Rate
$7.32 /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%
$200,180
Cap Rate 7%
$142,986
Cap Rate 9%
$111,211
Alternative Uses
Best Use
Retail
$362.1K
$316.9K – $422.5K
NOI $25,348 @ 7.0% cap · market cap 10.14%
Second Best
Industrial
$143.0K
$125.1K – $166.8K
NOI $10,009 @ 7.0% cap · market cap 4.01%
Theoretical Best
Office A
$454.0K
$397.3K – $529.7K
NOI $31,780 @ 7.0% cap · market cap 12.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
248
Businesses Nearby
17k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Citgo
Shops & Services
11,725 visits/mo
0.2 miles
Marathon
Shops & Services
4,989 visits/mo
0.3 miles
Demographics for 48215, MI
10,520
Population
6,044
Households
1.7
Avg Household Size
41
Median Age
19%
College-Educated
85%
High-School Grad
3.9 sq mi
ZIP Area
2,697
Density / Sq Mi
$33,741
Median Household Income
$36,728
Median Earnings
$897
Median Rent
$105,400
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 - Corner property with frontage, exposure, and a three-bay garage.
Where is this auto shop located?
The property is located at 12950 Mack Ave Detroit, MI.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: High‑visibility corner property with great frontage and exposure.; Includes a 3‑bay garage.; Land contract available.
