Building Details

Building Size 1,674 SF

Year Built 1890

Tenancy Single

Listing Agency: Key Realty One LLC - S. Dixie

Listed By: Theresa Barton · License #6501328287 Show Phone

Source: Cen21allstar

Added: Oct 9 Changed: Oct 13 Last Checked: Oct 12 at 4:38PM

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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 Key Realty One LLC - S. Dixie

Investment Insights

Based on property information with market context.

Built in 1890, this Dundee storefront combines retail space with a third-floor area for meetings and events. Elevator access serves the upper-level space. The retail business offers beer, wine, convenience groceries, fresh sandwiches, prepared pasta meals, and specialty food items.

The property is in downtown Dundee, near the River Raisin and the business district. Parking is located behind the building.

Key Highlights

• Third‑floor space configured for meetings and events
• Retail offerings include beer, wine, groceries, sandwiches, prepared pasta meals, and specialty food items
• Elevator access to the upper‑level event and meeting area

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$22,599

Cap Rate

2.83%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$451,980 $452.0K

Cap Rate 7%

$322,843 $322.8K

Cap Rate 9%

$251,100 $251.1K

Market Conditions

NOI Build-Up for 1,674 SF

Gross rent

$40.2K $24.00/SF

− Vacancy

−$4.0K −$2.40/SF

EGI

$36.2K $21.60/SF

− OpEx

−$13.6K −$8.10/SF

NOI

$22.6K $13.50/SF

Area

Monroe County, MI

Vacancy

10.00%

Lease Rate

$24.00 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$451,980

Cap Rate 7%

$322,843

Cap Rate 9%

$251,100

Alternative Uses

Best Use

Mixed Use

$322.8K

$282.5K – $376.7K (±1% cap)

NOI $22,599 @ 7.0% cap · market cap 2.83%

Second Best

Specialty Retail

$232.9K

$203.8K – $271.8K (±1% cap)

NOI $16,305 @ 7.0% cap · market cap 2.04%

Theoretical Best

Warehouse

$1.73M

$1.51M – $2.01M (±1% cap)

NOI $120,856 @ 7.0% cap · market cap 15.11%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Riverside Deli Food Market Alpha Wireless Mobile Phone Store Radio Shack Dundee Electronics & Wireless Store

Suggested Use

Top Pick Real Estate Agency Nail Salon Hair Salon Spa & Massage Center Electrical Service Skin Care Clinic

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

Single-tenant

Tenancy

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

237

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 48131, MI

8,126

Population

3,838

Households

2.1

Avg Household Size

37

Median Age

33%

College-Educated

95%

High-School Grad

50.1 sq mi

ZIP Area

162

Density / Sq Mi

$81,386

Median Household Income

$47,535

Median Earnings

$1,112

Median Rent

$246,300

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this storefront properties located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Storefront property - An elevator serves the upper-level meeting and event area alongside a retail operation offering prepared foods and convenience groceries.

Where is this storefront property located?

The property is located at 145 Riley Street Dundee, MI.

What is the asking price?

The asking price for this property is $799,900.

What are key features of this property?

This property features: Third‑floor space configured for meetings and events; Retail offerings include beer, wine, groceries, sandwiches, prepared pasta meals, and specialty food items; Elevator access to the upper‑level event and meeting area