Mixed-Use Building with
For Sale
Contact for pricing
13532 Conant Street, Detroit, MI 48212
Main-level retail space with two upstairs 2-bedroom, 1-bath units, plus an adjacent lot for parking.
Property Size1,440 SF
Price / SF$249.31
Days on Market352
Property Features for 13532 Conant Street
General Information
Standard status
Active
Size
1,440 SF
Property subtype
Retail
Additional Details
Multifamily Units
2
Building Details
Year Built
1928
Stories
2
Listing Agency:
NextDoor Realty Group
Listed By:
Sayf Alam · License #429593
Source:
Crexi
Added: Aug 21, 2025
Changed: Jul 10
Last Checked: Aug 6 at 5:58AM
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 NextDoor Realty Group
Investment Insights
Based on property information with market context.
This mixed-use building combines commercial and residential space in one versatile structure. The main level is configured for retail/commercial use, while the upper level includes two separate residential units. Each unit features two bedrooms and one bathroom, supporting rental income or a live/work setup. An adjacent lot is included, providing additional space for parking for both business and residential occupants.
The property is located at 13532 Conant Street in Detroit, Michigan. The offering is described as being positioned for strong market flexibility by pairing an operating commercial space with two separate living areas, all within the same ownership.
For tenants, buyers, or operators seeking a property that can support both business use and residential rental, this layout offers straightforward separation between the commercial and residential portions. The inclusion of off-site/adjacent parking space can also help reduce friction for day-to-day access and loading needs associated with retail activity, while keeping residential parking convenient.
The property is located at 13532 Conant Street in Detroit, Michigan. The offering is described as being positioned for strong market flexibility by pairing an operating commercial space with two separate living areas, all within the same ownership.
For tenants, buyers, or operators seeking a property that can support both business use and residential rental, this layout offers straightforward separation between the commercial and residential portions. The inclusion of off-site/adjacent parking space can also help reduce friction for day-to-day access and loading needs associated with retail activity, while keeping residential parking convenient.
Key Highlights
- Commercial building built in 1928 with a main‑level retail/commercial space
- Two upstairs residential units, each with 2 bedrooms and 1 bath
- Upper units offer options for rental income or a live/work setup
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
$17,736
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
4.94%
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%
$354,720
$354.7K
Cap Rate 7%
$253,371
$253.4K
Cap Rate 9%
$197,067
$197.1K
Market Conditions
NOI Build-Up for 1,440 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
$26.8K $18.60/SF
− Vacancy
−$1.4K −$1.00/SF
EGI
$25.3K $17.60/SF
− OpEx
−$7.6K −$5.28/SF
NOI
$17.7K $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%
$354,720
Cap Rate 7%
$253,371
Cap Rate 9%
$197,067
Alternative Uses
Best Use
Retail
$253.4K
$221.7K – $295.6K
NOI $17,736 @ 7.0% cap · market cap 4.94%
Second Best
Apartment 5plus
$215.8K
$188.8K – $251.8K
NOI $15,107 @ 7.0% cap · market cap 4.21%
Theoretical Best
Office A
$317.7K
$278.0K – $370.6K
NOI $22,237 @ 7.0% cap · market cap 6.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
403
Businesses Nearby
35k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 79%
Dining 21%
Dollar General
Shops & Services
10,058 visits/mo
0.3 miles
Citgo
Shops & Services
9,679 visits/mo
0.2 miles
Buddy's Pizza
Dining
7,304 visits/mo
0.1 miles
BP
Shops & Services
4,993 visits/mo
0.2 miles
U-Haul
Shops & Services
2,957 visits/mo
0.0 miles
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
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 - Main-level retail space with two upstairs 2-bedroom, 1-bath units, plus an adjacent lot for parking.
Where is this retail space located?
The property is located at 13532 Conant Street Detroit, MI.
What is the asking price?
The asking price for this property is $359,000.
What are key features of this property?
This property features: Commercial building built in 1928 with a main‑level retail/commercial space; Two upstairs residential units, each with 2 bedrooms and 1 bath; Upper units offer options for rental income or a live/work setup
