Flex Space with
New
For Sale
$1,500,000
13690 Tyler Street, Detroit, MI 48227
Commercial Sale, Detroit, MI
Property Size5,797 SF
Lot Size0.74 Acres
Price / SF$258.75
Days on Market2
Property Features for 13690 Tyler Street
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Elementary school district
Detroit
Middle school district
Detroit
High school district
Detroit
Standard status
Active
APN
22006826-7
Size
5,797 SF
Lot size
0.74 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
N TYLER 81 & 82 HUNT & LEGGETTS SUB L14 P79 PLATS, W C R 22/71 60 X 100
Tax Annual Amount
3431
Legal Description
N TYLER 81 & 82 HUNT & LEGGETTS SUB L14 P79 PLATS, W C R 22/71 60 X 100
Utilities
Utilities
Cable Available
Building Details
Year built
1947
Number of units
3
Listing Agency:
Waison Realty LLC
(313) 208-2653
Listed By:
Ibrahim Sharif · License #6502426370
(734) 250-7248
Added: Sep 26
Last Checked: Sep 27 at 4:06PM
MLS# 26051477
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This flex property includes a 5,797-square-foot building constructed in 1947 and two parcels totaling 0.74 acres. The site is located at 13690 and 13660 Tyler Street in Detroit, with proximity to I-96. Cable service is available.
Key Highlights
- Two parcels totaling 0.74 acres
- 5,797‑square‑foot building
- Building constructed in 1947
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
$51,239
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
3.42%
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%
$1,024,780
$1.0M
Cap Rate 7%
$731,986
$732.0K
Cap Rate 9%
$569,322
$569.3K
Market Conditions
NOI Build-Up for 5,797 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
$80.0K $13.80/SF
− Vacancy
−$6.8K −$1.17/SF
EGI
$73.2K $12.63/SF
− OpEx
−$22.0K −$3.79/SF
NOI
$51.2K $8.84/SF
Area
ZIP 48227
Vacancy
8.50%
Lease Rate
$13.80 /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%
$1,024,780
Cap Rate 7%
$731,986
Cap Rate 9%
$569,322
Alternative Uses
Best Use
Retail
$732.0K
$640.5K – $854.0K
NOI $51,239 @ 7.0% cap · market cap 3.42%
Second Best
Flex RnD
$660.8K
$578.2K – $771.0K
NOI $46,257 @ 7.0% cap · market cap 3.08%
Theoretical Best
Multifamily LT 5
$943.1K
$825.2K – $1.10M
NOI $66,018 @ 7.0% cap · market cap 4.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
323
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48227, MI
40,266
Population
19,933
Households
2
Avg Household Size
36
Median Age
12%
College-Educated
83%
High-School Grad
7.5 sq mi
ZIP Area
5,369
Density / Sq Mi
$36,221
Median Household Income
$31,797
Median Earnings
$1,034
Median Rent
$70,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Detroit, MI
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - The property combines an existing commercial building with two parcels for a range of potential business configurations.
Where is this flex space located?
The property is located at 13690 Tyler Street Detroit, MI.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Two parcels totaling 0.74 acres; 5,797‑square‑foot building; Building constructed in 1947
