Storefront
New
For Sale
$390,000
18585 Allen Rd, Melvindale, MI 48122
The sale combines the real estate and operating business across three parcels, with parking on both sides of the building.
Property Size3,200 SF
Days on Market4
Property Features for 18585 Allen Rd
General Information
Standard status
Active
Size
3,200 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$12,687
Building Details
Building Size
3,200 SF
Year Built
1953
Listing Agency:
Real Estate One-Dbn Hts/Dbn
Listed By:
Moe A Aldhulaimi · License #6501349008
(313) 565-3200
Source:
Elliman
Added: Nov 1
Last Checked: Nov 3 at 6:53AM
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 Real Estate One-Dbn Hts/Dbn
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This storefront property, built in 1953, is offered together with its operating business. The transaction includes three parcels, and parking is available on both sides of the building.
The property is at 18585 Allen Rd in Melvindale, Michigan. Its bike score is 63, indicating a bikeable area; the walk score is 46, classified as car-dependent.
The property is at 18585 Allen Rd in Melvindale, Michigan. Its bike score is 63, indicating a bikeable area; the walk score is 46, classified as car-dependent.
Key Highlights
- Business and real estate are included in the sale
- Three parcels included
- Parking on both sides of the building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,321
Cap Rate
7.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$606,420
$606.4K
Cap Rate 7%
$433,157
$433.2K
Cap Rate 9%
$336,900
$336.9K
Market Conditions
NOI Build-Up for 3,200 SF
Gross rent
$46.1K $14.40/SF
− Vacancy
−$2.8K −$0.86/SF
EGI
$43.3K $13.54/SF
− OpEx
−$13.0K −$4.06/SF
NOI
$30.3K $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 Rate 5%
$606,420
Cap Rate 7%
$433,157
Cap Rate 9%
$336,900
Alternative Uses
Best Use
Retail
$433.2K
$379.0K – $505.4K
NOI $30,321 @ 7.0% cap · market cap 7.77%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$592.5K
$518.4K – $691.2K
NOI $41,472 @ 7.0% cap · market cap 10.63%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
314
Businesses Nearby
89k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 47%
Shops & Services 44%
Hotels & Casinos 7%
Electronics 2%
McDonald's
Dining
22,928 visits/mo
0.1 miles
Dollar General
Shops & Services
10,971 visits/mo
0.4 miles
Burger King
Dining
9,166 visits/mo
0.1 miles
7-Eleven
Shops & Services
8,559 visits/mo
0.3 miles
Tim Hortons
Dining
7,684 visits/mo
0.5 miles
Demographics for 48122, MI
12,825
Population
4,693
Households
2.7
Avg Household Size
32
Median Age
15%
College-Educated
70%
High-School Grad
2.7 sq mi
ZIP Area
4,750
Density / Sq Mi
$41,356
Median Household Income
$30,744
Median Earnings
$1,116
Median Rent
$113,100
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 Midwest region
Similar Off Market Nearby
- Camflorist.com and Store — 3535 lenore st, melvindale, mi 48122
Frequently Asked Questions
What type of property is this?
Storefront property - The sale combines the real estate and operating business across three parcels, with parking on both sides of the building.
Where is this storefront property located?
The property is located at 18585 Allen Rd Melvindale, MI.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: Business and real estate are included in the sale; Three parcels included; Parking on both sides of the building
