Mixed-Use Property with
For Sale
$225,000
18750 Woodward, Detroit, MI 48229
Office and residential areas have separate entrances, with the apartment arranged above the office space.
Property Size1,600 SF
Price / SF$140.63
Days on Market37
Property Features for 18750 Woodward
General Information
Standard status
Active
Size
1,600 SF
Property subtype
Commercial/Industrial
Zoning
Commercial,Residential
Additional Details
Property Use
Office
Listed By:
J.A. BACHLER
(810) 765-8895
Source:
Jabachler
Added: Sep 23
Changed: Oct 27
Last Checked: Oct 27 at 3:22AM
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 J.A. BACHLER
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 mixed-use property combines approximately 1,600 square feet of office space with a second-level, two-bedroom apartment. The office has two separate entrances, and the apartment has its own address and two balconies. Public records list 1,482 square feet of living space, in addition to the office area.
The property is zoned for commercial and residential use. Woodward Avenue is the stated location.
The property is zoned for commercial and residential use. Woodward Avenue is the stated location.
Key Highlights
- Approximately 1,600 square feet of office space
- Second‑level apartment with two bedrooms and two balconies
- Office has two separate entrances; apartment has a separate address
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
Current Use
Location Intelligence
Trade Area within ½ mile
524
Businesses Nearby
Explore this area
Business Placement
Demographics for 48229, MI
9,258
Population
4,156
Households
2.2
Avg Household Size
36
Median Age
9%
College-Educated
72%
High-School Grad
2.8 sq mi
ZIP Area
3,306
Density / Sq Mi
$45,148
Median Household Income
$33,815
Median Earnings
$879
Median Rent
$59,300
Median Home Value
Market
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 arranged above the office space.
Where is this mixed-use property located?
The property is located at 18750 Woodward 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 and two balconies; Office has two separate entrances; apartment has a separate address
