Freestanding Retail/Office
For Sale
Contact for pricing
14635 Schaefer Hwy, Detroit, MI 48227
Zoned B4 freestanding corner-lot building with parking and flexible space for retail, office, showroom, or service uses.
Property Size5,067 SF
Price / SF$39.47
Days on Market398
Property Features for 14635 Schaefer Hwy
General Information
Standard status
Active
Size
5,067 SF
Property subtype
Land
Zoning
B4
Additional Details
Highway Access
Yes
Building Details
Year Built
1946
Listing Agency:
Keller Williams Legacy
Listed By:
Amanda Khoury · License #404702
Source:
Crexi
Added: Jul 6, 2025
Changed: Jul 10
Last Checked: Aug 6 at 2:11PM
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 Keller Williams Legacy
Investment Insights
Based on property information with market context.
This freestanding commercial building offers 5,067 sq. ft. of space designed for flexible business use. The property is zoned B4 (General Business), supporting a range of retail, office, showroom, and service-based operations. As a corner-lot asset, it is oriented for street-facing presentation and includes on-site parking for customers and staff.
The building is located on Schaefer Hwy within Detroit, positioned along a busy corridor. The public remarks describe strong street visibility and high traffic volume, which can be beneficial for businesses seeking consistent exposure. The property also benefits from easy access and is described as being close to major freeways and public transportation.
For tenants or owner-occupants, the B4 zoning and freestanding configuration can help accommodate a variety of front-facing commercial models, including showroom and service uses that benefit from direct customer access. For investors, the asset provides an owner-occupant or multi-use platform within an established commercial setting, with parking and signage potential referenced in the property materials. Buyers should verify specific use requirements and any signage options under applicable rules and permitting.
The building is located on Schaefer Hwy within Detroit, positioned along a busy corridor. The public remarks describe strong street visibility and high traffic volume, which can be beneficial for businesses seeking consistent exposure. The property also benefits from easy access and is described as being close to major freeways and public transportation.
For tenants or owner-occupants, the B4 zoning and freestanding configuration can help accommodate a variety of front-facing commercial models, including showroom and service uses that benefit from direct customer access. For investors, the asset provides an owner-occupant or multi-use platform within an established commercial setting, with parking and signage potential referenced in the property materials. Buyers should verify specific use requirements and any signage options under applicable rules and permitting.
Key Highlights
- 5,067 sq ft freestanding commercial building built in 1946
- Zoned B4 (General Business) with flexibility for retail, office, showroom, or service uses
- Corner‑lot property at 14635 Schaefer Hwy in Detroit, MI 48227
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
$17,443
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
8.72%
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%
$348,860
$348.9K
Cap Rate 7%
$249,186
$249.2K
Cap Rate 9%
$193,811
$193.8K
Market Conditions
NOI Build-Up for 5,067 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
$30.4K $6.00/SF
− Vacancy
−$7.1K −$1.41/SF
EGI
$23.3K $4.59/SF
− OpEx
−$5.8K −$1.15/SF
NOI
$17.4K $3.44/SF
Area
ZIP 48227
Vacancy
23.50%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
25.00%
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%
$348,860
Cap Rate 7%
$249,186
Cap Rate 9%
$193,811
Alternative Uses
Best Use
Retail
$639.8K
$559.8K – $746.5K
NOI $44,787 @ 7.0% cap · market cap 22.39%
Second Best
Office B
$249.2K
$218.0K – $290.7K
NOI $17,443 @ 7.0% cap · market cap 8.72%
Theoretical Best
Multifamily LT 5
$824.4K
$721.3K – $961.8K
NOI $57,705 @ 7.0% cap · market cap 28.85%
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
313
Businesses Nearby
Explore this area
Business Placement
Demographics for 48227, MI
40,266
Population
19,933
Households
2
Avg Household Size
36
Median Age
12%
College-Educated
83%
High-School Grad
7.5 sq mi
ZIP Area
5,369
Density / Sq Mi
$36,221
Median Household Income
$31,797
Median Earnings
$1,034
Median Rent
$70,900
Median Home Value
Market
Vacancy Rate% for Office in Detroit, MI
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Zoned B4 freestanding corner-lot building with parking and flexible space for retail, office, showroom, or service uses.
Where is this retail space located?
The property is located at 14635 Schaefer Hwy Detroit, MI.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: 5,067 sq ft freestanding commercial building built in 1946; Zoned B4 (General Business) with flexibility for retail, office, showroom, or service uses; Corner‑lot property at 14635 Schaefer Hwy in Detroit, MI 48227
