Mixed-Use Building with
For Sale
$749,900
14318 E Jefferson Ave, Detroit, MI 48215
The property combines three commercial spaces, restaurant improvements, and two upper-level apartments.
Property Size5,874 SF
Price / SF$127.66
Days on Market9
Property Features for 14318 E Jefferson Ave
General Information
Standard status
Active
Size
5,874 SF
Additional Details
Equipment Included
Yes
Building Details
Year Built
1924
Buildings
1
Tenancy
Multi
Listing Agency:
Michigan Dream Homes, LLC
Listed By:
John Wallen · License #6501288962
(248) 755-1124
Source:
Katie-k
Added: Sep 16
Changed: Sep 18
Last Checked: Sep 22 at 9:54PM
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 Michigan Dream Homes, LLC
Investment Insights
Based on property information with market context.
Built in 1924, this 5,874-square-foot mixed-use building includes three commercial storefronts and two upper-level, two-bedroom apartments measuring 1,425 square feet each. The retail spaces are approximately 1,000 square feet apiece and include separate basement storage. One storefront is occupied by an established men's barber shop, while another is configured as a beauty salon. The third commercial space is vacant and includes restaurant equipment and dining tables.
The residential component includes one occupied apartment and one vacant unit. The property is located at 14318 E Jefferson Ave in Detroit, near the Grosse Pointe border, and offers a combination of commercial and residential space within one building.
The residential component includes one occupied apartment and one vacant unit. The property is located at 14318 E Jefferson Ave in Detroit, near the Grosse Pointe border, and offers a combination of commercial and residential space within one building.
Key Highlights
- 5,874‑square‑foot mixed‑use building constructed in 1924
- Three commercial storefronts, each approximately 1,000 square feet
- Private basement storage serves each retail space
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
$61,622
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
8.22%
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%
$1,232,440
$1.2M
Cap Rate 7%
$880,314
$880.3K
Cap Rate 9%
$684,689
$684.7K
Market Conditions
NOI Build-Up for 5,874 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
$119.8K $20.40/SF
− Vacancy
−$7.8K −$1.33/SF
EGI
$112.0K $19.07/SF
− OpEx
−$50.4K −$8.58/SF
NOI
$61.6K $10.49/SF
Area
Detroit, MI
Vacancy
6.50%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
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%
$1,232,440
Cap Rate 7%
$880,314
Cap Rate 9%
$684,689
Alternative Uses
Best Use
Specialty Retail
$1.11M
$969.0K – $1.29M
NOI $77,517 @ 7.0% cap · market cap 10.34%
Second Best
Retail
$1.03M
$904.4K – $1.21M
NOI $72,350 @ 7.0% cap · market cap 9.65%
Theoretical Best
Office A
$1.30M
$1.13M – $1.51M
NOI $90,708 @ 7.0% cap · market cap 12.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
587
Businesses Nearby
Explore this area
Business Placement
Demographics for 48215, MI
10,520
Population
6,044
Households
1.7
Avg Household Size
41
Median Age
19%
College-Educated
85%
High-School Grad
3.9 sq mi
ZIP Area
2,697
Density / Sq Mi
$33,741
Median Household Income
$36,728
Median Earnings
$897
Median Rent
$105,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - The property combines three commercial spaces, restaurant improvements, and two upper-level apartments.
Where is this mixed-use property located?
The property is located at 14318 E Jefferson Ave Detroit, MI.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: 5,874‑square‑foot mixed‑use building constructed in 1924; Three commercial storefronts, each approximately 1,000 square feet; Private basement storage serves each retail space
