14318 E Jefferson Ave, Detroit, MI 48215

Building Details

Year Built 1924 More

Buildings 1 More

Tenancy Multi More

Listing Agency: Michigan Dream Homes, LLC

Listed By: John Wallen · License #6501288962 Show Phone

Source: Katie-k

Added: Sep 16 Changed: Nov 5 Last Checked: Nov 8 at 9:11AM

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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.

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 / Yr

$61,622

Cap Rate

8.22%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,232,440 $1.2M

Cap Rate 7%

$880,314 $880.3K

Cap Rate 9%

$684,689 $684.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,874 SF

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 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 (±1% cap)

NOI $77,517 @ 7.0% cap · market cap 10.34%

Second Best

Retail

$1.03M

$904.4K – $1.21M (±1% cap)

NOI $72,350 @ 7.0% cap · market cap 9.65%

Theoretical Best

Office A

$1.30M

$1.13M – $1.51M (±1% cap)

NOI $90,708 @ 7.0% cap · market cap 12.10%

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

Cliff's Gentleman Barber ... Barber Shop

Suggested Use

Top Pick HVAC Service Parking Lot & Garage Dental Office Nail Salon Building Supply Real Estate Agency

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

Market

Average Price Trend$/SF for Mixed-use properties in Detroit, MI

$164 Jul

$75.95 Aug

$80.41 Sep

$125 Oct

Properties on Market for Mixed-use properties in Detroit

Jul

Aug

Sep

Oct

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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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