Mixed-Use
For Sale
Contact for pricing
1515 West Lafayette Boulevard, Detroit, MI 48216
Detroit asset located minutes from Downtown and the Michigan Avenue corridor.
Property Size13,000 SF
Price / SF$146.08
Days on Market173
Property Features for 1515 West Lafayette Boulevard
General Information
Standard status
Active
Size
13,000 SF
Property subtype
Mixed Use
Site & Location
Neighborhood
Corktown
Building Details
Stories
2
Listing Agency:
NAI Farbman
Listed By:
Jacob Brown · License #6501461436
(248) 351-6331
Source:
Crexi
Added: May 14
Changed: Oct 31
Last Checked: Nov 1 at 4:32AM
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 NAI Farbman
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This mixed-use property is located at 1515 West Lafayette Boulevard in Detroit, Michigan. The property information reports a size of 13,000, with no unit specified.
The asset is positioned minutes from Downtown Detroit and the Michigan Avenue corridor, providing a defined urban location for mixed-use commercial consideration.
The asset is positioned minutes from Downtown Detroit and the Michigan Avenue corridor, providing a defined urban location for mixed-use commercial consideration.
Key Highlights
- Mixed‑use property at 1515 West Lafayette Boulevard
- Reported property size of 13,000
- Minutes from Downtown Detroit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$154,440
Cap Rate
8.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,088,800
$3.1M
Cap Rate 7%
$2,206,286
$2.2M
Cap Rate 9%
$1,716,000
$1.7M
Market Conditions
NOI Build-Up for 13,000 SF
Gross rent
$280.8K $21.60/SF
− Vacancy
−$33.7K −$2.59/SF
EGI
$247.1K $19.01/SF
− OpEx
−$92.7K −$7.13/SF
NOI
$154.4K $11.88/SF
Area
Detroit, MI
Vacancy
12.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,088,800
Cap Rate 7%
$2,206,286
Cap Rate 9%
$1,716,000
Alternative Uses
Best Use
Mixed Use
$2.21M
$1.93M – $2.57M
NOI $154,440 @ 7.0% cap · market cap 8.13%
Second Best
Industrial
$903.3K
$790.4K – $1.05M
NOI $63,228 @ 7.0% cap · market cap 3.33%
Theoretical Best
Office A
$2.87M
$2.51M – $3.35M
NOI $200,750 @ 7.0% cap · market cap 10.57%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
988
Businesses Nearby
Explore this area
Business Placement
Demographics for 48216, MI
5,031
Population
3,398
Households
1.5
Avg Household Size
35
Median Age
37%
College-Educated
87%
High-School Grad
2.3 sq mi
ZIP Area
2,187
Density / Sq Mi
$42,278
Median Household Income
$42,189
Median Earnings
$860
Median Rent
$225,300
Median Home Value
Market
Vacancy Rate% for Industrial in Detroit, MI
Frequently Asked Questions
What type of property is this?
Mixed-use property - Detroit asset located minutes from Downtown and the Michigan Avenue corridor.
Where is this mixed-use property located?
The property is located at 1515 West Lafayette Boulevard Detroit, MI.
What is the asking price?
The asking price for this property is $1,899,000.
What are key features of this property?
This property features: Mixed‑use property at 1515 West Lafayette Boulevard; Reported property size of 13,000; Minutes from Downtown Detroit
