Mixed-Use Building with Adjacent
For Sale
$359,000
13532 CONANT ST, Detroit, MI 48212
Main-level commercial space with two upper residential units, plus an adjacent lot for parking convenience.
Property Size1,440 SF
Price / SF$249.31
Days on Market357
Property Features for 13532 CONANT ST
General Information
Standard status
Active
Size
1,440 SF
Property subtype
Industrial
Additional Details
Multifamily Units
2
Amenities
3
90100
Building Details
Year Built
19
Listing Agency:
NextDoor Realty Group
(248) 922-8727
Listed By:
Sayful Alam · License #6501446449
(248) 922-8727
Source:
Xome
Added: Aug 20, 2025
Changed: Aug 8
Last Checked: Aug 11 at 4:54AM
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 property offers a versatile layout with commercial space on the main level and two separate residential units on the upper level. Each upper unit includes 2 bedrooms and 1 bathroom, supporting flexible live/work or rental use while keeping commercial operations on the ground floor.
The property is located at 13532 Conant Street in Detroit, MI 48212. An adjacent lot provides additional space for parking, which can benefit both business and residential occupants.
As presented, the building combines income-producing residential configurations with dedicated commercial space, supported by nearby off-street parking through the adjacent lot.
The property is located at 13532 Conant Street in Detroit, MI 48212. An adjacent lot provides additional space for parking, which can benefit both business and residential occupants.
As presented, the building combines income-producing residential configurations with dedicated commercial space, supported by nearby off-street parking through the adjacent lot.
Key Highlights
- Main‑level commercial space with two upper residential units
- Upper level includes 2 separate units, each with 2 bedrooms and 1 bathroom
- Adjacent lot provides space for parking for business and residential use
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
$17,107
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
4.77%
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%
$342,140
$342.1K
Cap Rate 7%
$244,386
$244.4K
Cap Rate 9%
$190,078
$190.1K
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
$31.1K $21.60/SF
− Vacancy
−$3.7K −$2.59/SF
EGI
$27.4K $19.01/SF
− OpEx
−$10.3K −$7.13/SF
NOI
$17.1K $11.88/SF
Area
Detroit, 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 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%
$342,140
Cap Rate 7%
$244,386
Cap Rate 9%
$190,078
Alternative Uses
Best Use
Mixed Use
$244.4K
$213.8K – $285.1K
NOI $17,107 @ 7.0% cap · market cap 4.77%
Second Best
Multifamily LT 5
$235.1K
$205.7K – $274.3K
NOI $16,457 @ 7.0% cap · market cap 4.58%
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
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
Market
Vacancy Rate% for Office in Detroit, MI
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - Main-level commercial space with two upper residential units, plus an adjacent lot for parking convenience.
Where is this live-work space located?
The property is located at 13532 CONANT ST 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: Main‑level commercial space with two upper residential units; Upper level includes 2 separate units, each with 2 bedrooms and 1 bathroom; Adjacent lot provides space for parking for business and residential use
