Mixed-Use Building with Medical
For Sale
$1,300,000
2460 N Florian St SW, Hamtramck, MI 48212
Includes an active dental operation, two apartments, and an additional lot for added flexibility.
Property Size4,070 SF
Price / SF$319.41
Days on Market40
Property Features for 2460 N Florian St SW
General Information
Standard status
Active
Size
4,070 SF
Additional Details
Public Transit
Yes
Multifamily Units
2
Building Details
Year Built
1942
Buildings
1
Listing Agency:
Real Estate One-Troy
Listed By:
Jack Butris · License #6501294875
(248) 813-4900
Source:
Katie-k
Added: Aug 28
Changed: Sep 22
Last Checked: Oct 5 at 8:08PM
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 Real Estate One-Troy
Investment Insights
Based on property information with market context.
Built in 1942, this 4,070 SF mixed-use property combines office and medical space with residential accommodations. An active dentist operation occupies the building, while one apartment offers 3 bedrooms, 2 baths, and a finished basement. A second apartment is leased, creating an additional residential component within the property.
The property is located at 2460 N Florian St SW in Hamtramck, Michigan. An extra lot accompanies the building and may support future use, subject to applicable approvals. Walk Score is 80, Bike Score is 52, and Transit Score is 36.
The property is located at 2460 N Florian St SW in Hamtramck, Michigan. An extra lot accompanies the building and may support future use, subject to applicable approvals. Walk Score is 80, Bike Score is 52, and Transit Score is 36.
Key Highlights
- 4,070 SF mixed‑use building constructed in 1942
- Active dentist operation serving as the medical‑use component
- Apartment with 3 bedrooms, 2 baths, and a finished basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,352
Cap Rate
3.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$967,040
$967.0K
Cap Rate 7%
$690,743
$690.7K
Cap Rate 9%
$537,244
$537.2K
Market Conditions
NOI Build-Up for 4,070 SF
Gross rent
$87.9K $21.60/SF
− Vacancy
−$10.5K −$2.59/SF
EGI
$77.4K $19.01/SF
− OpEx
−$29.0K −$7.13/SF
NOI
$48.4K $11.88/SF
Area
Wayne County, MI
Vacancy
12.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$967,040
Cap Rate 7%
$690,743
Cap Rate 9%
$537,244
Alternative Uses
Best Use
Mixed Use
$690.7K
$604.4K – $805.9K
NOI $48,352 @ 7.0% cap · market cap 3.72%
Second Best
Healthcare Medical
$612.3K
$535.8K – $714.3K
NOI $42,860 @ 7.0% cap · market cap 3.30%
Theoretical Best
Specialty Retail
$753.5K
$659.3K – $879.1K
NOI $52,747 @ 7.0% cap · market cap 4.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
950
Businesses Nearby
Explore this area
Business Placement
Demographics for 48212, MI
43,192
Population
14,739
Households
2.9
Avg Household Size
29
Median Age
16%
College-Educated
68%
High-School Grad
5.3 sq mi
ZIP Area
8,149
Density / Sq Mi
$37,293
Median Household Income
$28,894
Median Earnings
$935
Median Rent
$98,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Includes an active dental operation, two apartments, and an additional lot for added flexibility.
Where is this mixed-use property located?
The property is located at 2460 N Florian St SW Hamtramck, MI.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 4,070 SF mixed‑use building constructed in 1942; Active dentist operation serving as the medical‑use component; Apartment with 3 bedrooms, 2 baths, and a finished basement
