Open-Layout Lounge
For Sale
$195,000
17243 W McNichols Road, Detroit, MI 48235
Contemporary lounge space with updated finishes and flexibility for events, meetings, and other commercial uses.
Property Size1,400 SF
Price / SF$139.29
Days on Market13
Property Features for 17243 W McNichols Road
General Information
Standard status
Active
Size
1,400 SF
Property subtype
Industrial
Amenities
2080
Building Details
Year Built
19
Listing Agency:
EXP Realty Main
(313) 903-2089
Listed By:
Future Davis · License #6501382733
(313) 903-2089
Source:
Xome
Added: Jul 30
Changed: Aug 9
Last Checked: Aug 11 at 5:01AM
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 EXP Realty Main
Investment Insights
Based on property information with market context.
This 1,400-square-foot lounge at 17243 W McNichols Road offers an open interior layout with updated finishes and contemporary features. The space is configured as a flexible hospitality setting and can accommodate entertaining, private events, meetings, or other commercial uses identified for the property.
The lounge’s interior combines a spacious floor plan with a modern presentation, providing a straightforward setting for operators seeking a bar or pub-oriented asset. Located in Detroit, the property offers an existing commercial space with a range of stated event and meeting applications.
The lounge’s interior combines a spacious floor plan with a modern presentation, providing a straightforward setting for operators seeking a bar or pub-oriented asset. Located in Detroit, the property offers an existing commercial space with a range of stated event and meeting applications.
Key Highlights
- 1,400‑square‑foot lounge
- Spacious open interior layout
- Updated finishes and contemporary features
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
$13,798
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
7.08%
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%
$275,960
$276.0K
Cap Rate 7%
$197,114
$197.1K
Cap Rate 9%
$153,311
$153.3K
Market Conditions
NOI Build-Up for 1,400 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
$19.8K $14.16/SF
− Vacancy
−$1.4K −$1.02/SF
EGI
$18.4K $13.14/SF
− OpEx
−$4.6K −$3.29/SF
NOI
$13.8K $9.86/SF
Area
ZIP 48235
Vacancy
7.20%
Lease Rate
$14.16 /SF/Yr
Expense Ratio
25.00%
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%
$275,960
Cap Rate 7%
$197,114
Cap Rate 9%
$153,311
Alternative Uses
Best Use
Specialty Retail
$197.1K
$172.5K – $230.0K
NOI $13,798 @ 7.0% cap · market cap 7.08%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$198.5K
$173.7K – $231.5K
NOI $13,892 @ 7.0% cap · market cap 7.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
975
Businesses Nearby
50k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 55%
Dining 45%
Burger King
Dining
13,308 visits/mo
0.3 miles
Family Dollar
Shops & Services
10,373 visits/mo
0.4 miles
KFC
Dining
8,087 visits/mo
0.4 miles
Dollar General
Shops & Services
6,967 visits/mo
0.2 miles
Valero Energy
Shops & Services
6,757 visits/mo
0.1 miles
Demographics for 48235, MI
45,188
Population
20,946
Households
2.2
Avg Household Size
39
Median Age
15%
College-Educated
91%
High-School Grad
6.2 sq mi
ZIP Area
7,288
Density / Sq Mi
$41,011
Median Household Income
$31,545
Median Earnings
$1,151
Median Rent
$79,400
Median Home Value
Market
Vacancy Rate% for Retail in Detroit, MI
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Village Goods — 16030 W McNichols Rd, Detroit, MI 48235
- Green Life Lounge — 17238 W McNichols Rd, Detroit, MI 48235
- 482 Hookah Lounge — 17150 W McNichols Rd, Detroit, MI 48235
- Goldroom Detroit — 16911 W McNichols Rd, Detroit, MI 48235
- 224 Social Room — Detroit, MI 48219
Frequently Asked Questions
What type of property is this?
Bar & Pub - Contemporary lounge space with updated finishes and flexibility for events, meetings, and other commercial uses.
Where is this bar & pub located?
The property is located at 17243 W McNichols Road Detroit, MI.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: 1,400‑square‑foot lounge; Spacious open interior layout; Updated finishes and contemporary features
