Storefront Property with Rear Paved
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 Market50
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
Listed By:
Nisa Hacias
(586) 201-6032
Source:
Katie-k
Added: Aug 26
Changed: Oct 2
Last Checked: Oct 7 at 3:53PM
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 / Yr
$13,672
Cap Rate
9.11%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
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Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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
