Mixed-Use Building with
New
For Sale
$749,900
14318 E Jefferson Avenue, Detroit, MI 48215
Commercial Sale, Detroit, MI
Property Size5,874 SF
Lot Size0.16 Acres
Price / SF$127.66
Days on Market1
Property Features for 14318 E Jefferson Avenue
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
Commercial
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 5, Bathroom 3, Bathroom 4, Bathroom 1, Bathroom 2
Interior features
Broadband
Elementary school district
Detroit
Middle school district
Detroit
High school district
Detroit
Standard status
Active
APN
21000350
Size
5,874 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
S--E JEFFERSON W 8 FT 55 54 MARSHLAND BLVD SUB L26 P92 PLATS, W C R 21/293 48 X 140
Tax Annual Amount
2597
Legal Description
S--E JEFFERSON W 8 FT 55 54 MARSHLAND BLVD SUB L26 P92 PLATS, W C R 21/293 48 X 140
Utilities
Utilities
Phone Available
Heating system
Forced Air
Amenities
private basement
Building Details
Year built
1924
Number of units
5
Listing Agency:
Michigan Dream Homes, LLC
(313) 399-5398
Listed By:
John Wallen · License #6501288962
(248) 755-1124
Added: Aug 28
Last Checked: Aug 28 at 5:06PM
MLS# 26045695
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 5,874-square-foot mixed-use building, constructed in 1924, combines three commercial storefronts with two upper-level apartments. Each retail suite measures approximately 1,000 square feet and includes a private basement for storage. One storefront is occupied by an established men's barber shop, while another is configured as a restaurant space with commercial kitchen equipment and tables. The residential portion includes two two-bedroom apartments measuring 1,425 square feet each; one is occupied and one is vacant.
The property sits at 14318 E Jefferson Avenue in Detroit's 48215 postal area, near the Grosse Pointe border. The 0.16-acre site includes a building served by forced-air heat, with broadband interior service and phone availability listed among the utilities.
The property sits at 14318 E Jefferson Avenue in Detroit's 48215 postal area, near the Grosse Pointe border. The 0.16-acre site includes a building served by forced-air heat, with broadband interior service and phone availability listed among the utilities.
Key Highlights
- 5,874‑square‑foot mixed‑use building on a 0.16‑acre lot
- Three commercial storefronts, each approximately 1,000 square feet
- Private basement storage provided for each retail suite
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
$67,131
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
8.95%
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%
$1,342,620
$1.3M
Cap Rate 7%
$959,014
$959.0K
Cap Rate 9%
$745,900
$745.9K
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
$102.2K $17.40/SF
− Vacancy
−$6.3K −$1.07/SF
EGI
$95.9K $16.33/SF
− OpEx
−$28.8K −$4.90/SF
NOI
$67.1K $11.43/SF
Area
Detroit, MI
Vacancy
6.17%
Lease Rate
$17.40 /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%
$1,342,620
Cap Rate 7%
$959,014
Cap Rate 9%
$745,900
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
Property Profile
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
Market
Vacancy Rate% for Multifamily in Midwest region
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 - Ground-floor retail suites include private basement storage, with two upper-level two-bedroom apartments above.
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: 5,874‑square‑foot mixed‑use building on a 0.16‑acre lot; Three commercial storefronts, each approximately 1,000 square feet; Private basement storage provided for each retail suite
