Storefront Property with Rear Paved
New
For Sale
$150,000
17164 E Warren Ave, Detroit, MI 48224
Updated building systems and paved area behind the storefront support a range of commercial layouts.
Property Size1,110 SF
Price / SF$135.14
Days on Market5
Property Features for 17164 E Warren Ave
General Information
Standard status
Active
Size
1,110 SF
Property Condition
Severity
Repairs Needed
Evidence
Interior needs painting
Building Details
Year Built
1948
Listing Agency:
Michigan Real Estate LLC
(586) 201-6032
Listed By:
Nisa Hacias
Source:
Katie-k
Added: Aug 26
Changed: Aug 30
Last Checked: Aug 30 at 12:22AM
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 Michigan Real Estate LLC
Investment Insights
Based on property information with market context.
This Detroit storefront property was built in 1948 and features updated electric, plumbing, and roofing. A tankless water tank is also in place. The interior needs painting, offering a straightforward opportunity to refresh the space for its next commercial use.
Paved space extends behind the building, adding functional exterior area. The seller will accept a land contract, providing an alternative transaction structure for qualified parties.
Paved space extends behind the building, adding functional exterior area. The seller will accept a land contract, providing an alternative transaction structure for qualified parties.
Key Highlights
- Updated electric, plumbing, and roof
- Tankless water tank installed
- Paved space behind the building
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
$13,672
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
9.11%
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%
$273,440
$273.4K
Cap Rate 7%
$195,314
$195.3K
Cap Rate 9%
$151,911
$151.9K
Market Conditions
NOI Build-Up for 1,110 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
$20.6K $18.60/SF
− Vacancy
−$1.1K −$1.00/SF
EGI
$19.5K $17.60/SF
− OpEx
−$5.9K −$5.28/SF
NOI
$13.7K $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%
$273,440
Cap Rate 7%
$195,314
Cap Rate 9%
$151,911
Alternative Uses
Best Use
Retail
$195.3K
$170.9K – $227.9K
NOI $13,672 @ 7.0% cap · market cap 9.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$280.0K
$245.0K – $326.7K
NOI $19,599 @ 7.0% cap · market cap 13.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
504
Businesses Nearby
38k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 97%
Home Improvements & Furnishings 3%
Dollar Tree
Shops & Services
14,317 visits/mo
0.4 miles
Dollar General
Shops & Services
6,065 visits/mo
0.1 miles
Family Dollar
Shops & Services
5,487 visits/mo
0.1 miles
Sunoco
Shops & Services
4,446 visits/mo
0.1 miles
AutoZone
Shops & Services
3,579 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 - Updated building systems and paved area behind the storefront support a range of commercial layouts.
Where is this storefront property located?
The property is located at 17164 E Warren Ave Detroit, MI.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: Updated electric, plumbing, and roof; Tankless water tank installed; Paved space behind the building
