Retail Storefront with Adjacent
For Sale
$389,900
20524 W Warren Ave, Detroit, MI 48228
Sale includes an adjoining parcel that may support parking, outdoor storage, expansion, or redevelopment.
Property Size2,367 SF
Price / SF$164.72
Days on Market48
Property Features for 20524 W Warren Ave
General Information
Standard status
Active
Size
2,367 SF
Additional Details
Highway Access
Yes
Building Details
Year Built
1959
Listing Agency:
Empire Realty Group
Listed By:
Moussa Sobh · License #6502127733
(313) 846-0960
Source:
Katie-k
Added: Sep 4
Changed: Oct 14
Last Checked: Oct 7 at 4:27PM
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 Empire Realty Group
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Investment Insights
Based on property information with market context.
This retail storefront at 20524 W Warren Ave in Detroit includes the adjoining parcel identified as Parcel ID W22I000515S. The additional land provides options for parking, outdoor storage, future expansion, or redevelopment, subject to applicable approvals.
Built in 1959, the property is positioned in Detroit’s Warrendale neighborhood along W Warren Ave. Its location provides access toward Dearborn and Dearborn Heights, with convenient connectivity to major freeways. The property is suited to retail, office, medical, automotive, or service-oriented commercial use, supporting both owner-occupant and investor strategies.
Built in 1959, the property is positioned in Detroit’s Warrendale neighborhood along W Warren Ave. Its location provides access toward Dearborn and Dearborn Heights, with convenient connectivity to major freeways. The property is suited to retail, office, medical, automotive, or service-oriented commercial use, supporting both owner-occupant and investor strategies.
Key Highlights
- Adjoining parcel included in the sale: Parcel ID W22I000515S
- Built in 1959
- Located at 20524 W Warren Ave, Detroit, MI 48228
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,154
Cap Rate
7.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$583,080
$583.1K
Cap Rate 7%
$416,486
$416.5K
Cap Rate 9%
$323,933
$323.9K
Market Conditions
NOI Build-Up for 2,367 SF
Gross rent
$44.0K $18.60/SF
− Vacancy
−$2.4K −$1.00/SF
EGI
$41.6K $17.60/SF
− OpEx
−$12.5K −$5.28/SF
NOI
$29.2K $12.32/SF
Area
ZIP 48228
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%
$583,080
Cap Rate 7%
$416,486
Cap Rate 9%
$323,933
Alternative Uses
Best Use
Retail
$416.5K
$364.4K – $485.9K
NOI $29,154 @ 7.0% cap · market cap 7.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$486.2K
$425.4K – $567.2K
NOI $34,032 @ 7.0% cap · market cap 8.73%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
304
Businesses Nearby
20k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Family Dollar
Shops & Services
7,187 visits/mo
0.5 miles
Valero Energy
Shops & Services
7,140 visits/mo
0.2 miles
AutoZone
Shops & Services
3,680 visits/mo
0.5 miles
Comerica Bank
Shops & Services
2,390 visits/mo
0.2 miles
Demographics for 48228, MI
53,893
Population
22,620
Households
2.4
Avg Household Size
31
Median Age
11%
College-Educated
78%
High-School Grad
8.9 sq mi
ZIP Area
6,055
Density / Sq Mi
$31,485
Median Household Income
$27,533
Median Earnings
$1,086
Median Rent
$55,100
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
Frequently Asked Questions
What type of property is this?
Storefront property - Sale includes an adjoining parcel that may support parking, outdoor storage, expansion, or redevelopment.
Where is this storefront property located?
The property is located at 20524 W Warren Ave Detroit, MI.
What is the asking price?
The asking price for this property is $389,900.
What are key features of this property?
This property features: Adjoining parcel included in the sale: Parcel ID W22I000515S; Built in 1959; Located at 20524 W Warren Ave, Detroit, MI 48228
