Freestanding Retail
For Sale
$750,000
201 W 8 Mile Rd, Detroit, MI 48203
Freestanding retail building on 8 Mile Road with signalized intersection access and 56,000+ vehicles per day.
Property Size3,538 SF
Days on Market129
Property Features for 201 W 8 Mile Rd
General Information
Standard status
Active
Size
3,538 SF
Property subtype
Retail
Site & Location
Neighborhood
Grixdale Farms
Traffic Count
56,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
3,538 SF
Year Built
1986
Listed By:
Michael Scamardella
(586) 263-5111
Source:
Linorealty
Added: Jun 25
Changed: Oct 26
Last Checked: Oct 30 at 12:05PM
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 Michael Scamardella
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.
201 W 8 Mile Road presents a freestanding retail building positioned along 8 Mile Road, one of Detroit’s most recognizable commercial corridors. The property is offered for sale or lease and includes existing infrastructure intended to support quick occupancy or repositioning.
Located on 8 Mile Road between Woodward Avenue and I-75, the site benefits from strong visibility and two-way average daily traffic counts exceeding 56,000 vehicles. Access is supported by a signalized intersection with multiple curb cuts, providing practical ingress and egress for retail operations.
On-site parking is available, with the property also noting potential overflow parking from an adjacent property. The building’s configuration and corridor placement make it suited for a range of retail uses where convenient access and high traffic exposure are priorities.
Located on 8 Mile Road between Woodward Avenue and I-75, the site benefits from strong visibility and two-way average daily traffic counts exceeding 56,000 vehicles. Access is supported by a signalized intersection with multiple curb cuts, providing practical ingress and egress for retail operations.
On-site parking is available, with the property also noting potential overflow parking from an adjacent property. The building’s configuration and corridor placement make it suited for a range of retail uses where convenient access and high traffic exposure are priorities.
Key Highlights
- Freestanding retail building with existing infrastructure for quick occupancy or repositioning
- Located on 8 Mile Rd between Woodward Ave and I‑75
- Two‑way average daily traffic counts exceeding 56,000 vehicles
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,577
Cap Rate
5.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$871,540
$871.5K
Cap Rate 7%
$622,529
$622.5K
Cap Rate 9%
$484,189
$484.2K
Market Conditions
NOI Build-Up for 3,538 SF
Gross rent
$65.8K $18.60/SF
− Vacancy
−$3.6K −$1.00/SF
EGI
$62.3K $17.60/SF
− OpEx
−$18.7K −$5.28/SF
NOI
$43.6K $12.32/SF
Area
Detroit, MI
Vacancy
5.40%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$871,540
Cap Rate 7%
$622,529
Cap Rate 9%
$484,189
Alternative Uses
Best Use
Retail
$622.5K
$544.7K – $726.3K
NOI $43,577 @ 7.0% cap · market cap 5.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$780.5K
$682.9K – $910.6K
NOI $54,635 @ 7.0% cap · market cap 7.28%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
56,000 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
376
Businesses Nearby
7k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 82%
Electronics 18%
Comerica Bank
Shops & Services
2,195 visits/mo
0.4 miles
Citgo
Shops & Services
2,052 visits/mo
0.4 miles
Marathon Petroleum
Shops & Services
1,382 visits/mo
0.4 miles
Metro by T-Mobile
Electronics
1,238 visits/mo
0.4 miles
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
Market
Vacancy Rate% for Retail in Detroit, MI
Frequently Asked Questions
What type of property is this?
Storefront property - Freestanding retail building on 8 Mile Road with signalized intersection access and 56,000+ vehicles per day.
Where is this storefront property located?
The property is located at 201 W 8 Mile Rd Detroit, MI.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Freestanding retail building with existing infrastructure for quick occupancy or repositioning; Located on 8 Mile Rd between Woodward Ave and I‑75; Two‑way average daily traffic counts exceeding 56,000 vehicles
