Historic-Finish Mixed-Use
16835 Kercheval Avenue, Grosse Pointe Park, MI 48230
For Sale
$1,350,000
Two floor plates offer potential for retail, office, or residential use.
Property Size5,000 SF
Price / SF$270
Days on Market2080
Property Features for 16835 Kercheval Avenue
General Information
Standard status
Size
Net Rentable
Property subtype
Additional Details
Property Use
Taxes and HOA fees
Annual Taxes
Amenities
150-year old murals
stained glass windows from the 1800's
imported walnut wood and oak paneling retained from the Stonehurst Estate
restored 19th century chandeliers
Building Details
Building Size
Listing Agency:
Avison Young-Michigan LLC
Listed By:
Matthew Buslepp · License #6501384370
(313) 244-1876
Source:
Fikany
Added: Mar 1, 2021
Changed: Nov 8
Last Checked: Nov 8 at 2:57PM
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 Avison Young-Michigan LLC
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Investment Insights
Based on property information with market context.
This mixed-use property provides 5,000 RSF across two 2,500 RSF floor plates. Its retained interior details include murals described as 150 years old, stained glass dating to the 1800s, imported walnut and oak paneling from the Stonehurst Estate, and restored 19th-century chandeliers. Potential uses include retail, office, or residential occupancy.
Key Highlights
- 5,000 RSF arranged as two 2,500 RSF floor plates
- Murals described as 150 years old and stained glass dating to the 1800s
- Imported walnut and oak paneling retained from the Stonehurst Estate
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,400
Cap Rate
4.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,188,000
$1.2M
Cap Rate 7%
$848,571
$848.6K
Cap Rate 9%
$660,000
$660.0K
Market Conditions
NOI Build-Up for 5,000 SF
Gross rent
$108.0K $21.60/SF
− Vacancy
−$13.0K −$2.59/SF
EGI
$95.0K $19.01/SF
− OpEx
−$35.6K −$7.13/SF
NOI
$59.4K $11.88/SF
Area
Wayne County, 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%
$1,188,000
Cap Rate 7%
$848,571
Cap Rate 9%
$660,000
Alternative Uses
Best Use
Mixed Use
$848.6K
$742.5K – $990.0K
NOI $59,400 @ 7.0% cap · market cap 4.40%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$925.7K
$810.0K – $1.08M
NOI $64,800 @ 7.0% cap · market cap 4.80%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
756
Businesses Nearby
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Business Placement
Demographics for 48230, MI
17,559
Population
7,369
Households
2.4
Avg Household Size
42
Median Age
73%
College-Educated
99%
High-School Grad
3.3 sq mi
ZIP Area
5,321
Density / Sq Mi
$131,155
Median Household Income
$65,716
Median Earnings
$1,451
Median Rent
$448,200
Median Home Value
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Market
Average Price Trend$/SF for Mixed-use properties in Wayne County, MI
Properties on Market for Mixed-use properties in Wayne County
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two floor plates offer potential for retail, office, or residential use.
Where is this mixed-use property located?
The property is located at 16835 Kercheval Avenue Grosse Pointe Park, MI.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 5,000 RSF arranged as two 2,500 RSF floor plates; Murals described as 150 years old and stained glass dating to the 1800s; Imported walnut and oak paneling retained from the Stonehurst Estate
