Detroit Retail Opportunity For
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13226 W McNichols Rd, Detroit, MI 48235
2,917 SF retail building with liquor license in Detroit.
Property Size2,917 SF
Price / SF$179.98
Days on Market204
Property Features for 13226 W McNichols Rd
General Information
Standard status
Active
Size
2,917 SF
Property subtype
Retail
Occupancy
100%
Investment Type
Owner/User
Building Details
Tenancy
Single
Listing Agency:
Keystone Commercial Real Estate
(248) 406-1761
Listed By:
Kathleen Garmo · License #MI
Source:
Crexi
Added: Jan 29
Changed: Aug 8
Last Checked: Aug 8 at 6:41AM
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 Keystone Commercial Real Estate
Investment Insights
Based on property information with market context.
This 2,917 SF building in Detroit offers a retail opportunity with a flexible layout suitable for various concepts. The property features a single unit and presents an opportunity for a restaurant investment. Available FF&E and an included liquor license may streamline establishing a culinary destination. The property is positioned to attract a steady flow of patrons in Detroit's market.
Key Highlights
- Prime location in Detroit
- Includes a liquor license
- 2,917 SF building suitable for retail**
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
$28,748
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
5.48%
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%
$574,960
$575.0K
Cap Rate 7%
$410,686
$410.7K
Cap Rate 9%
$319,422
$319.4K
Market Conditions
NOI Build-Up for 2,917 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
$41.3K $14.16/SF
− Vacancy
−$3.0K −$1.02/SF
EGI
$38.3K $13.14/SF
− OpEx
−$9.6K −$3.29/SF
NOI
$28.7K $9.86/SF
Area
ZIP 48235
Vacancy
7.20%
Lease Rate
$14.16 /SF/Yr
Expense Ratio
25.00%
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%
$574,960
Cap Rate 7%
$410,686
Cap Rate 9%
$319,422
Alternative Uses
Best Use
Specialty Retail
$410.7K
$359.4K – $479.1K
NOI $28,748 @ 7.0% cap · market cap 5.48%
Second Best
Retail
$368.3K
$322.3K – $429.7K
NOI $25,783 @ 7.0% cap · market cap 4.91%
Theoretical Best
Multifamily LT 5
$413.5K
$361.8K – $482.4K
NOI $28,944 @ 7.0% cap · market cap 5.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,302
Businesses Nearby
44k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 52%
Shops & Services 48%
Burger King
Dining
13,308 visits/mo
0.2 miles
KFC
Dining
8,087 visits/mo
0.1 miles
Sunoco
Shops & Services
7,019 visits/mo
0.3 miles
Sunoco
Shops & Services
5,693 visits/mo
0.5 miles
Mobil
Shops & Services
4,163 visits/mo
0.3 miles
Demographics for 48235, MI
45,188
Population
20,946
Households
2.2
Avg Household Size
39
Median Age
15%
College-Educated
91%
High-School Grad
6.2 sq mi
ZIP Area
7,288
Density / Sq Mi
$41,011
Median Household Income
$31,545
Median Earnings
$1,151
Median Rent
$79,400
Median Home Value
Market
Vacancy Rate% for Retail in Detroit, MI
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - 2,917 SF retail building with liquor license in Detroit.
Where is this retail space located?
The property is located at 13226 W McNichols Rd Detroit, MI.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Prime location in Detroit; Includes a liquor license; 2,917 SF building suitable for retail**
