Renovated Retail/Commercial Space with
14939 Meyers Rd Detroit, MI 48227
For Sale
$135,000
Turnkey 1,400 SF retail/commercial space with outdoor and rooftop areas.
Property Size1,400 SF
Price / SF$96.43
Days on Market100
Property Features for 14939 Meyers Rd
General Information
- Standard status
- Active
- Size
- 1,400 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1961
Listing Agency:
RICK WOOD & ASSOCIATES INC
(248) 819-3494
Listed By:
Andrea Johnson · License #0692125
(248) 819-3494
Source:
Elliman
Added: Apr 15
Changed: Jul 10
Last Checked: Jul 15 at 12:56PM
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 RICK WOOD & ASSOCIATES INC
Investment Insights
Based on property information with market context.
This renovated 1,400 square foot retail/commercial space presents a turnkey opportunity for both owner-users and investors. The building has been completely updated, featuring new mechanical systems, a new roof, and modern improvements throughout, which ensures low maintenance and long-term reliability. The property includes a unique outdoor entertainment area and a rooftop space, offering possibilities for various ventures such as a social club, boutique retail, lounge concept, event space, or creative commercial use. It is suited for entrepreneurs seeking a move-in ready location with flexible potential. The bike score is 48, indicating it is somewhat bikeable. The walk score is 60, meaning it is somewhat walkable, and the transit score is 47, suggesting some transit options are available.
Key Highlights
- Completely renovated 1,400 sq ft retail/commercial space.
- Turnkey opportunity for owner‑user or investor.
- New mechanical systems and roof for low maintenance.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $19.3k | $13.80 |
| − Vacancy | −$1.6k | −$1.17 |
| EGI | $17.7k | $12.63 |
| − OpEx | −$5.3k | −$3.79 |
| NOI | $12.4k | $8.84 |
1,400 SF · lease $13.80/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$176.8K
$154.7K – $206.2K
NOI $12,374 @ 7.0% cap · market cap 9.17%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$227.8K
$199.3K – $265.7K
NOI $15,944 @ 7.0% cap · market cap 11.81%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
FAQs
What type of property is this?
Retail space - Turnkey 1,400 SF retail/commercial space with outdoor and rooftop areas.
Where is this retail space located?
The property is located at 14939 Meyers Rd Detroit, MI.
What is the asking price?
The asking price for this property is $135,000.
What are key features of this property?
This property features: Completely renovated **1,400 sq ft retail/commercial space**.; Turnkey opportunity for owner‑user or investor.; New mechanical systems and roof for low maintenance.
