Two-Building Storefront
For Sale
$195,000
14520 Harper Avenue, Detroit, MI 48224
Commercial Sale, Detroit, MI
Property Size920 SF
Lot Size0.05 Acres
Price / SF$211.96
Days on Market340
Property Features for 14520 Harper Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Interior features
Broadband
Subdivision
The Partners Land Subdivision
Elementary school district
Detroit
Middle school district
Detroit
High school district
Detroit
Directions
Exit off of I-94 at either Chalmers or Outer Drive E.
Standard status
Active
APN
21003966
Size
920 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
S HARPER 7 PARTNER LAND SUB L42 P31 PLATS, W C R 21/612 20 X 100
Tax Annual Amount
540
Legal Description
S HARPER 7 PARTNER LAND SUB L42 P31 PLATS, W C R 21/612 20 X 100
Utilities
Heating system
Forced Air
Building Details
Year built
1925
Number of units
1
Listing Agency:
@properties Christie's Int'l
(248) 850-8632
Listed By:
Robert Lawrence · License #6506022838
(248) 705-2086
Added: Sep 17, 2025
Changed: Aug 20
Last Checked: Aug 22 at 6:06AM
MLS# 25047812
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 storefront property includes two commercial buildings at 14534 and 14524 Harper Avenue, together with an additional parcel at 14520 Harper Avenue. The larger building contains 3,235 SF, while the second building provides 920 SF. The property is currently occupied by Harper Upholstery Workroom, and the transaction includes the option to acquire upholstery equipment, operating tools, and inventory.
Building systems include forced-air heating and cooling, with well-maintained equipment noted in the property information. Broadband is available, and the site has access to parking. The property is located in Detroit, Michigan, with convenient access to I-94. The larger building dates to 1925.
Building systems include forced-air heating and cooling, with well-maintained equipment noted in the property information. Broadband is available, and the site has access to parking. The property is located in Detroit, Michigan, with convenient access to I-94. The larger building dates to 1925.
Key Highlights
- Two commercial buildings: 3,235 SF at 14534 and 920 SF at 14524 Harper Avenue
- Additional 0.05‑acre parcel at 14520 Harper Avenue
- Current Harper Upholstery Workroom use
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
$11,332
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
5.81%
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%
$226,640
$226.6K
Cap Rate 7%
$161,886
$161.9K
Cap Rate 9%
$125,911
$125.9K
Market Conditions
NOI Build-Up for 920 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
$17.1K $18.60/SF
− Vacancy
−$924 −$1.00/SF
EGI
$16.2K $17.60/SF
− OpEx
−$4.9K −$5.28/SF
NOI
$11.3K $12.32/SF
Area
ZIP 48224
Vacancy
5.40%
Lease Rate
$18.60 /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%
$226,640
Cap Rate 7%
$161,886
Cap Rate 9%
$125,911
Alternative Uses
Best Use
Retail
$161.9K
$141.7K – $188.9K
NOI $11,332 @ 7.0% cap · market cap 5.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$232.1K
$203.1K – $270.7K
NOI $16,244 @ 7.0% cap · market cap 8.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
300
Businesses Nearby
19k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 67%
Shops & Services 28%
Electronics 4%
Little Caesars Pizza
Dining
8,082 visits/mo
0.1 miles
Family Dollar
Shops & Services
5,401 visits/mo
0.2 miles
KFC
Dining
4,812 visits/mo
0.1 miles
Metro by T-Mobile
Electronics
831 visits/mo
0.2 miles
Demographics for 48224, MI
39,633
Population
16,786
Households
2.4
Avg Household Size
33
Median Age
14%
College-Educated
84%
High-School Grad
5.8 sq mi
ZIP Area
6,833
Density / Sq Mi
$42,963
Median Household Income
$30,997
Median Earnings
$1,213
Median Rent
$77,900
Median Home Value
Market
Vacancy Rate% for Retail in Detroit, MI
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Includes forced-air heating and cooling, broadband access, and an optional package of upholstery equipment and inventory.
Where is this storefront property located?
The property is located at 14520 Harper Avenue Detroit, MI.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: Two commercial buildings: 3,235 SF at 14534 and 920 SF at 14524 Harper Avenue; Additional 0.05‑acre parcel at 14520 Harper Avenue; Current Harper Upholstery Workroom use
