Mixed-Use Property with
18750 Woodward Ave, Detroit, MI 48203
For Sale
$225,000
Office and residential areas have separate entrances, with the apartment occupying the second level.
Property Size3,440 SF
Price / SF$140.63
Days on Market47
Property Features for 18750 Woodward Ave
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Public Transit
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Oak and Stone Real Estate
Listed By:
Christian Brown
(248) 980-7952
Source:
Elliman
Added: Sep 24
Changed: Oct 29
Last Checked: Nov 8 at 6:40AM
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 Oak and Stone Real Estate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This Woodward Avenue mixed-use property combines approximately 1,600 square feet of office space with a two-bedroom apartment upstairs. The office has two separate entrances, while the apartment has its own address and two balconies. Public records list 1,482 square feet of living space, separate from the office area. The building dates to 1941.
The property is on Woodward Avenue in Detroit. Its walk score is 50, bike score is 56, and transit score is 52.
The property is on Woodward Avenue in Detroit. Its walk score is 50, bike score is 56, and transit score is 52.
Key Highlights
- Approximately 1,600 square feet of office space
- Second‑level apartment with two bedrooms, a separate address, and two balconies
- Office area has two separate entrances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,008
Cap Rate
8.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$380,160
$380.2K
Cap Rate 7%
$271,543
$271.5K
Cap Rate 9%
$211,200
$211.2K
Market Conditions
NOI Build-Up for 1,600 SF
Gross rent
$34.6K $21.60/SF
− Vacancy
−$4.1K −$2.59/SF
EGI
$30.4K $19.01/SF
− OpEx
−$11.4K −$7.13/SF
NOI
$19.0K $11.88/SF
Area
Detroit, MI
Vacancy
12.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$380,160
Cap Rate 7%
$271,543
Cap Rate 9%
$211,200
Alternative Uses
Best Use
Mixed Use
$271.5K
$237.6K – $316.8K
NOI $19,008 @ 7.0% cap · market cap 8.45%
Second Best
Office B
$231.6K
$202.6K – $270.2K
NOI $16,210 @ 7.0% cap · market cap 7.20%
Theoretical Best
Office A
$353.0K
$308.9K – $411.8K
NOI $24,708 @ 7.0% cap · market cap 10.98%
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
Location Intelligence
Trade Area within ½ mile
368
Businesses Nearby
Explore this area
Business Placement
Demographics for 48203, MI
22,168
Population
13,591
Households
1.6
Avg Household Size
39
Median Age
19%
College-Educated
85%
High-School Grad
8.2 sq mi
ZIP Area
2,703
Density / Sq Mi
$35,108
Median Household Income
$28,364
Median Earnings
$799
Median Rent
$76,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Mixed-use properties in Detroit, MI
Properties on Market for Mixed-use properties in Detroit
Vacancy Rate% for Office in Detroit, MI
Frequently Asked Questions
What type of property is this?
Mixed-use property - Office and residential areas have separate entrances, with the apartment occupying the second level.
Where is this mixed-use property located?
The property is located at 18750 Woodward Ave Detroit, MI.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Approximately 1,600 square feet of office space; Second‑level apartment with two bedrooms, a separate address, and two balconies; Office area has two separate entrances
