Updated Duplex with Separate
New
For Sale
$299,000
20351 E 8 Mile Rd, St Clair Shores, MI 48080
Two matching units offer refreshed interiors, private utility metering, and rear parking accessed from a side street.
Property Size2,000 SF
Days on Market7
Property Features for 20351 E 8 Mile Rd
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$6,035
Building Details
Building Size
2,000 SF
Year Built
1961
Units
2
Listing Agency:
RE/MAX First
(586) 405-0874
Listed By:
John A. Demske · License #6501316265
(586) 405-0874
Source:
Elliman
Added: Aug 25
Changed: Aug 31
Last Checked: Aug 31 at 3:20AM
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 RE/MAX First
Investment Insights
Based on property information with market context.
This two-unit duplex was built in 1961 and features matching floor plans with hardwood flooring in both residences. Unit 20351 is vacant and includes a new kitchen, fresh interior paint, and new central air scheduled for June 2026. Unit 20353 has an updated kitchen and bath, wall air conditioning, and a partially finished basement. Both units also have vinyl windows, updated PEX plumbing, and separate gas, electric, and water meters.
New driveways and walkways serve the property, while vehicle access and parking are positioned behind the building from Parkside. The property is located at 20351 E 8 Mile Rd in St. Clair Shores, Michigan. Unit 20353 is occupied, and access to that residence is available with an accepted offer.
New driveways and walkways serve the property, while vehicle access and parking are positioned behind the building from Parkside. The property is located at 20351 E 8 Mile Rd in St. Clair Shores, Michigan. Unit 20353 is occupied, and access to that residence is available with an accepted offer.
Key Highlights
- Two‑unit duplex with identical floor plans
- Unit 20351 is vacant and available for viewing
- Unit 20351 has a new kitchen, fresh paint, and new central air scheduled for June 2026
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
$21,172
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
7.08%
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%
$423,440
$423.4K
Cap Rate 7%
$302,457
$302.5K
Cap Rate 9%
$235,244
$235.2K
Market Conditions
NOI Build-Up for 2,000 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
$32.4K $16.20/SF
− Vacancy
−$2.2K −$1.08/SF
EGI
$30.2K $15.12/SF
− OpEx
−$9.1K −$4.54/SF
NOI
$21.2K $10.59/SF
Area
Macomb County, MI
Vacancy
6.65%
Lease Rate
$16.20 /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%
$423,440
Cap Rate 7%
$302,457
Cap Rate 9%
$235,244
Alternative Uses
Best Use
Multifamily LT 5
$302.5K
$264.7K – $352.9K
NOI $21,172 @ 7.0% cap · market cap 7.08%
Second Best
Apartment 5plus
$268.3K
$234.8K – $313.0K
NOI $18,782 @ 7.0% cap · market cap 6.28%
Theoretical Best
Specialty Retail
$374.4K
$327.6K – $436.8K
NOI $26,210 @ 7.0% cap · market cap 8.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
650
Businesses Nearby
Explore this area
Business Placement
Demographics for 48080, MI
22,272
Population
11,424
Households
1.9
Avg Household Size
44
Median Age
33%
College-Educated
96%
High-School Grad
4.4 sq mi
ZIP Area
5,062
Density / Sq Mi
$69,884
Median Household Income
$48,837
Median Earnings
$1,070
Median Rent
$188,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two matching units offer refreshed interiors, private utility metering, and rear parking accessed from a side street.
Where is this duplex located?
The property is located at 20351 E 8 Mile Rd St Clair Shores, MI.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Two‑unit duplex with identical floor plans; Unit 20351 is vacant and available for viewing; Unit 20351 has a new kitchen, fresh paint, and new central air scheduled for June 2026
