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 Market192
Property Features for 1417 Van Dyke St
General Information
Standard status
Pending
Size
1,980 SF
Property subtype
Commercial
Site & Location
Neighborhood
West Village
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: Oct 25
Last Checked: Oct 30 at 4:10PM
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
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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 / Yr
$24,388
Cap Rate
6.10%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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
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.**
