Single-Story
New
For Sale
$225,000
20520 Schaefer Highway, Detroit, MI 48235
Block construction provides a durable, compact setting for retail operations.
Property Size1,300 SF
Price / SF$173.08
Days on Market1
Property Features for 20520 Schaefer Highway
General Information
Standard status
Active
Size
1,300 SF
Property subtype
Retail
Site & Location
Neighborhood
Blackstone Park
Traffic Count
63,385 vehicles/day
Building Details
Year Built
1952
Stories
1
Construction
block
Listing Agency:
CBRE
Listed By:
Andy Sitto
(586) 744-8247
Source:
Cbre
Added: Oct 30
Last Checked: Oct 30 at 3:01PM
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 CBRE
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Investment Insights
Based on property information with market context.
This single-story storefront in northwest Detroit contains 1,300 square feet of block construction. Built in 1952, the property is configured as a retail asset.
The site is near the intersection of 8 Mile Road and Schaefer Highway, where the reported daily traffic count is 63,385. Its position within a cluster of national retailers adds established commercial context.
The site is near the intersection of 8 Mile Road and Schaefer Highway, where the reported daily traffic count is 63,385. Its position within a cluster of national retailers adds established commercial context.
Key Highlights
- 1,300‑square‑foot retail property
- Single‑story block‑construction building
- Built in 1952
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,491
Cap Rate
5.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$229,820
$229.8K
Cap Rate 7%
$164,157
$164.2K
Cap Rate 9%
$127,678
$127.7K
Market Conditions
NOI Build-Up for 1,300 SF
Gross rent
$17.9K $13.80/SF
− Vacancy
−$1.5K −$1.17/SF
EGI
$16.4K $12.63/SF
− OpEx
−$4.9K −$3.79/SF
NOI
$11.5K $8.84/SF
Area
ZIP 48235
Vacancy
8.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$229,820
Cap Rate 7%
$164,157
Cap Rate 9%
$127,678
Alternative Uses
Best Use
Retail
$164.2K
$143.6K – $191.5K
NOI $11,491 @ 7.0% cap · market cap 5.11%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$184.3K
$161.2K – $215.0K
NOI $12,899 @ 7.0% cap · market cap 5.73%
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
63,385 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
486
Businesses Nearby
25k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 61%
Dining 39%
Marathon Petroleum
Shops & Services
7,005 visits/mo
0.3 miles
Church's Chicken
Dining
6,421 visits/mo
0.0 miles
Exxon
Shops & Services
6,017 visits/mo
0.5 miles
Tubby's
Dining
3,144 visits/mo
0.2 miles
Northland Chrysler Dodge Jeep Ram
Shops & Services
2,143 visits/mo
0.3 miles
Demographics for 48235, MI
45,188
Population
20,946
Households
2.2
Avg Household Size
39
Median Age
15%
College-Educated
91%
High-School Grad
6.2 sq mi
ZIP Area
7,288
Density / Sq Mi
$41,011
Median Household Income
$31,545
Median Earnings
$1,151
Median Rent
$79,400
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 Detroit, MI
Similar Off Market Nearby
- Divinity Divine Floral — 20461 Manor, Detroit, MI 48221, United States
- Exclusive Flowers By Terry — 21470 Coolidge Hwy, Oak Park, MI 48237
Frequently Asked Questions
What type of property is this?
Storefront property - Block construction provides a durable, compact setting for retail operations.
Where is this storefront property located?
The property is located at 20520 Schaefer Highway 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: 1,300‑square‑foot retail property; Single‑story block‑construction building; Built in 1952
