Mixed-Use Investment Opportunity in
For Sale
$400,000
Pending
1417 Van Dyke St, Detroit, MI 48214
Three-story property with retail, Airbnb, and residential rental units.
Property Size1,980 SF
Days on Market144
Property Features for 1417 Van Dyke St
General Information
Standard status
Pending
Size
1,980 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$4,258
Building Details
Building Size
1,980 SF
Year Built
1917
Listing Agency:
Clyde Realty LLC
Listed By:
David Rabior · License #6501406276
(586) 260-4346
Source:
Elliman
Added: Apr 24
Changed: Sep 3
Last Checked: Sep 14 at 10:05AM
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 Clyde Realty LLC
Investment Insights
Based on property information with market context.
This three-story mixed-use property is located at 1417 Van Dyke Ave, Detroit, MI. It features three income-producing units: a street-level retail space, a successful Airbnb unit, and a residential rental. The retail space, currently operating as a bookstore, is presently vacant, offering immediate upside potential with projected rental income of approximately $1,400 per month once leased. The property is being offered with both the business opportunity and the real estate. This creates flexibility for owner-operators or investors seeking multiple income streams. It is ideal for those looking to expand their portfolio with a versatile asset in a growing area. There is strong potential for increased cash flow through lease-up and continued short-term rental operation. Gas and electric are on separate meters. The property has a bike score of 68, making it bikeable, a walk score of 50, indicating it is somewhat walkable, and a transit score of 54, suggesting good transit options.
Key Highlights
- Three income‑producing units: retail space, Airbnb, and residential rental.
- Offered with both the real estate and business opportunity.
- Immediate upside potential with vacant retail space projected to generate $1,400/month.**
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
$24,388
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
6.10%
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%
$487,760
$487.8K
Cap Rate 7%
$348,400
$348.4K
Cap Rate 9%
$270,978
$271.0K
Market Conditions
NOI Build-Up for 1,980 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
$36.8K $18.60/SF
− Vacancy
−$2.0K −$1.00/SF
EGI
$34.8K $17.60/SF
− OpEx
−$10.5K −$5.28/SF
NOI
$24.4K $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%
$487,760
Cap Rate 7%
$348,400
Cap Rate 9%
$270,978
Alternative Uses
Best Use
Retail
$348.4K
$304.9K – $406.5K
NOI $24,388 @ 7.0% cap · market cap 6.10%
Second Best
Mixed Use
$336.0K
$294.0K – $392.0K
NOI $23,522 @ 7.0% cap · market cap 5.88%
Theoretical Best
Office A
$436.8K
$382.2K – $509.6K
NOI $30,576 @ 7.0% cap · market cap 7.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
674
Businesses Nearby
15k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Sunoco
Shops & Services
10,400 visits/mo
0.3 miles
Sunoco
Shops & Services
4,282 visits/mo
0.3 miles
Demographics for 48214, MI
18,959
Population
13,279
Households
1.4
Avg Household Size
44
Median Age
27%
College-Educated
84%
High-School Grad
5.1 sq mi
ZIP Area
3,717
Density / Sq Mi
$34,807
Median Household Income
$36,625
Median Earnings
$818
Median Rent
$120,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Detroit, MI
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-story property with retail, Airbnb, and residential rental units.
Where is this mixed-use property located?
The property is located at 1417 Van Dyke St Detroit, MI.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Three income‑producing units: retail space, Airbnb, and residential rental.; Offered with both the real estate and business opportunity.; Immediate upside potential with vacant retail space projected to generate $1,400/month.**
