Mixed-Use Property in
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14318 E Jefferson Avenue, Detroit, MI 48215
5,874 SF mixed-use property with storefronts and apartments.
Property Size5,874 SF
Price / SF$127.66
Days on Market201
Property Features for 14318 E Jefferson Avenue
General Information
Standard status
Active
Size
5,874 SF
Property subtype
Retail, Office
Building Details
Year Built
1924
Buildings
1
Units
5
Listing Agency:
Community Choice Realty Inc
(248) 755-1124
Listed By:
John Wallen · License #MI 6501288962
Source:
Crexi
Added: Jan 23
Changed: Aug 10
Last Checked: Aug 11 at 1:53PM
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 Community Choice Realty Inc
Investment Insights
Based on property information with market context.
This 5,874 square foot mixed-use property is located on East Jefferson Avenue in Detroit, near Grosse Pointe, and is situated within an Empowerment Zone. The property features three storefronts and two apartments. Each storefront is approximately 980 square feet and includes its own separate basement. The property includes an up-and-running men's barber shop and a women's beauty salon, located on the left and right sides respectively, plus a vacant restaurant in the middle, which still contains equipment. The two apartments are each approximately 1425 square feet and have two bedrooms. The property has separate gas meters and forced air furnaces, as well as separate updated electric meters and circuit breaker panels. There is room for parking in the back and on the street. One apartment is currently rented for $1,300 per month; the other requires finishing touches. The property offers potential for income generation from the storefronts and apartments. There is a possibility of adding parking in the rear.
Key Highlights
- High Income Potential: Existing rental income from apartment and storefronts.
- Prime Location: Situated on East Jefferson, a high‑demand street in Detroit.
- Multiple Income Streams: Features 3 storefronts and 2 spacious apartments.
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
Retail
$1.03M
$904.4K – $1.21M
NOI $72,350 @ 7.0% cap · market cap 9.65%
Second Best
Mixed Use
$996.9K
$872.3K – $1.16M
NOI $69,783 @ 7.0% cap · market cap 9.31%
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
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
296
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
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - 5,874 SF mixed-use property with storefronts and apartments.
Where is this mixed-use property located?
The property is located at 14318 E Jefferson Avenue 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: High Income Potential: Existing rental income from apartment and storefronts.; Prime Location: Situated on East Jefferson, a high‑demand street in Detroit.; Multiple Income Streams: Features 3 storefronts and 2 spacious apartments.
