Corner Retail Building with
For Sale
$595,000
17445 Ecorse Road, Allen Park, MI 48101
Freestanding corner retail building on a heavily traveled retail corridor with strong signage visibility and abundant nearby parking.
Property Size4,705 SF
Price / SF$126.46
Days on Market58
Property Features for 17445 Ecorse Road
General Information
Standard status
Active
Size
4,705 SF
Property subtype
Retail
Building Details
Year Built
1952
Listing Agency:
Friedman Real Estate
(248) 324-2000
Listed By:
Greg Hornby · License #6501313839
Source:
Friedmanrealestate
Added: Jun 11
Changed: Jul 10
Last Checked: Aug 6 at 4:41AM
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 Friedman Real Estate
Investment Insights
Based on property information with market context.
The property is a 4,705 SF retail building offered for the first time. The listing highlights corner visibility and signage, supported by a storefront-oriented retail configuration. The site includes access to an adjacent owned lot that provides abundant parking for customers.
Located on the Ecorse Road retail corridor, the building benefits from exposure to heavy traffic. Corner positioning supports prominent street-facing visibility and signage placement for branding and tenant wayfinding.
This offering is well suited for a retail user seeking a dedicated building along a busy neighborhood retail drive, with on-site parking support from the adjacent owned lot. The property’s clear street exposure and corner presence can help retailers and service operators attract walk-in and drive-by customers from the corridor. Interested buyers should review the stated property tax amount of $12,511 as part of their underwriting.
Located on the Ecorse Road retail corridor, the building benefits from exposure to heavy traffic. Corner positioning supports prominent street-facing visibility and signage placement for branding and tenant wayfinding.
This offering is well suited for a retail user seeking a dedicated building along a busy neighborhood retail drive, with on-site parking support from the adjacent owned lot. The property’s clear street exposure and corner presence can help retailers and service operators attract walk-in and drive-by customers from the corridor. Interested buyers should review the stated property tax amount of $12,511 as part of their underwriting.
Key Highlights
- 4,705 SF freestanding retail building for sale
- Located on the heavily traveled Ecorse Road retail corridor
- Corner location with great visibility and signage
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
$44,581
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
7.49%
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%
$891,620
$891.6K
Cap Rate 7%
$636,871
$636.9K
Cap Rate 9%
$495,344
$495.3K
Market Conditions
NOI Build-Up for 4,705 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
$67.8K $14.40/SF
− Vacancy
−$4.1K −$0.86/SF
EGI
$63.7K $13.54/SF
− OpEx
−$19.1K −$4.06/SF
NOI
$44.6K $9.48/SF
Area
Wayne County, MI
Vacancy
6.00%
Lease Rate
$14.40 /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%
$891,620
Cap Rate 7%
$636,871
Cap Rate 9%
$495,344
Alternative Uses
Best Use
Retail
$636.9K
$557.3K – $743.0K
NOI $44,581 @ 7.0% cap · market cap 7.49%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$871.1K
$762.2K – $1.02M
NOI $60,977 @ 7.0% cap · market cap 10.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
945
Businesses Nearby
Explore this area
Business Placement
Demographics for 48101, MI
28,664
Population
12,413
Households
2.3
Avg Household Size
41
Median Age
30%
College-Educated
94%
High-School Grad
7.0 sq mi
ZIP Area
4,095
Density / Sq Mi
$80,045
Median Household Income
$51,658
Median Earnings
$1,181
Median Rent
$174,500
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Freestanding corner retail building on a heavily traveled retail corridor with strong signage visibility and abundant nearby parking.
Where is this retail space located?
The property is located at 17445 Ecorse Road Allen Park, MI.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 4,705 SF freestanding retail building for sale; Located on the heavily traveled Ecorse Road retail corridor; Corner location with great visibility and signage
