Mixed-Use Automotive Service
For Sale
Contact for pricing
2121 Ford Ave, Wyandotte, MI 48192
Mixed-use building with first-floor garages and service bays plus 2,255 SF of residential space on the second floor.
Property Size7,755 SF
Lot Size0.31 Acres
Price / SF$77.37
Days on Market546
Property Features for 2121 Ford Ave
General Information
Standard status
Active
Size
7,755 SF
Lot size
0.31 Acres
Property subtype
RETAIL
Zoning
C-2
Additional Details
Road Access
Yes
Building Details
Stories
2
Listing Agency:
NAI Farbman - Corporate
(248) 353-0500
Listed By:
John Harwood · License #6502136733
(734) 755-0488
Source:
Moodyscre
Added: Mar 14, 2025
Changed: Aug 16
Last Checked: Sep 9 at 7:30AM
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 NAI Farbman - Corporate
Investment Insights
Based on property information with market context.
This mixed-use commercial building includes 5,500 SF on the first floor featuring garages and service bays, with an additional 2,255 SF of residential space on the second floor. The property totals 7,755 SF and sits on 13,504 SF of land.
Located just east of Fort St on Ford Ave near Northline, the building is positioned on a busy commercial corridor. The property is zoned C-2: Commercial Business.
For investors or owner-operators, the existing layout supports automotive/service operations below while maintaining residential space above, offering two income-producing components within a single building footprint.
Located just east of Fort St on Ford Ave near Northline, the building is positioned on a busy commercial corridor. The property is zoned C-2: Commercial Business.
For investors or owner-operators, the existing layout supports automotive/service operations below while maintaining residential space above, offering two income-producing components within a single building footprint.
Key Highlights
- 7,755 SF mixed‑use commercial building in Wyandotte with first‑floor garages/service bays and second‑floor residential space
- First floor offers 5,500 SF of garages and service bays
- Second floor includes 2,255 SF of residential space
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
$40,148
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
6.69%
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%
$802,960
$803.0K
Cap Rate 7%
$573,543
$573.5K
Cap Rate 9%
$446,089
$446.1K
Market Conditions
NOI Build-Up for 7,755 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
$59.6K $7.68/SF
− Vacancy
−$2.2K −$0.28/SF
EGI
$57.4K $7.40/SF
− OpEx
−$17.2K −$2.22/SF
NOI
$40.1K $5.18/SF
Area
Wayne County, MI
Vacancy
3.70%
Lease Rate
$7.68 /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%
$802,960
Cap Rate 7%
$573,543
Cap Rate 9%
$446,089
Alternative Uses
Best Use
Mixed Use
$1.32M
$1.15M – $1.54M
NOI $92,129 @ 7.0% cap · market cap 15.35%
Second Best
Retail
$1.05M
$918.5K – $1.22M
NOI $73,480 @ 7.0% cap · market cap 12.25%
Theoretical Best
Specialty Retail
$1.44M
$1.26M – $1.68M
NOI $100,505 @ 7.0% cap · market cap 16.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
439
Businesses Nearby
265k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 46%
Groceries 26%
Home Improvements & Furnishings 13%
Shops & Services 13%
Kroger
Groceries
69,382 visits/mo
0.4 miles
Lowe's
Home Improvements & Furnishings
34,238 visits/mo
0.3 miles
McDonald's
Dining
28,456 visits/mo
0.3 miles
SONIC Drive In
Dining
19,762 visits/mo
0.3 miles
Starbucks
Dining
16,942 visits/mo
0.4 miles
Demographics for 48192, MI
25,058
Population
11,441
Households
2.2
Avg Household Size
42
Median Age
21%
College-Educated
91%
High-School Grad
5.3 sq mi
ZIP Area
4,728
Density / Sq Mi
$67,846
Median Household Income
$42,999
Median Earnings
$995
Median Rent
$159,700
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 Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use building with first-floor garages and service bays plus 2,255 SF of residential space on the second floor.
Where is this mixed-use property located?
The property is located at 2121 Ford Ave Wyandotte, MI.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 7,755 SF mixed‑use commercial building in Wyandotte with first‑floor garages/service bays and second‑floor residential space; First floor offers 5,500 SF of garages and service bays; Second floor includes 2,255 SF of residential space
