Freestanding Storefront with
For Sale
$385,000
21511 Van Dyke Ave, Warren, MI 48089
Renovated commercial building with dedicated parking, signage opportunities, and adaptable space along Van Dyke Avenue.
Property Size2,055 SF
Lot Size0.51 Acres
Days on Market8
Property Features for 21511 Van Dyke Ave
General Information
Standard status
Active
Size
2,055 SF
Lot size
0.51 Acres
Property subtype
Commercial
Zoning
commercial
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$7,935
Building Details
Building Size
2,055 SF
Year Built
1951
Buildings
1
Listing Agency:
Brookstone
Listed By:
Lance Seba · License #6506049502
(248) 704-6000
Source:
Elliman
Added: Sep 8
Last Checked: Sep 14 at 9:21AM
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 Brookstone
Investment Insights
Based on property information with market context.
This freestanding storefront property includes the adjoining vacant lot at 21543 Van Dyke, creating a combined 0.51-acre site. The building at 21511 Van Dyke Avenue was constructed in 1951 and renovated in recent years. Its commercial layout has served retail and financial-service users and includes dedicated parking and signage opportunities.
The property sits along Van Dyke Avenue in Warren, with direct roadway exposure and access to regional routes serving Detroit, Sterling Heights, and Macomb County. The surrounding commercial district includes residential neighborhoods, local businesses, and daily-needs retail destinations. Commercial zoning supports retail, medical, office, service-oriented, and specialty commercial occupancy, subject to local approvals.
The property sits along Van Dyke Avenue in Warren, with direct roadway exposure and access to regional routes serving Detroit, Sterling Heights, and Macomb County. The surrounding commercial district includes residential neighborhoods, local businesses, and daily-needs retail destinations. Commercial zoning supports retail, medical, office, service-oriented, and specialty commercial occupancy, subject to local approvals.
Key Highlights
- Combined 0.51‑acre property includes vacant lot at 21543 Van Dyke
- 21511 Van Dyke Avenue storefront building constructed in 1951
- Building renovated in recent years
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
$25,311
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
6.57%
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%
$506,220
$506.2K
Cap Rate 7%
$361,586
$361.6K
Cap Rate 9%
$281,233
$281.2K
Market Conditions
NOI Build-Up for 2,055 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
$38.2K $18.60/SF
− Vacancy
−$2.1K −$1.00/SF
EGI
$36.2K $17.60/SF
− OpEx
−$10.8K −$5.28/SF
NOI
$25.3K $12.32/SF
Area
Warren, 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 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%
$506,220
Cap Rate 7%
$361,586
Cap Rate 9%
$281,233
Alternative Uses
Best Use
Retail
$361.6K
$316.4K – $421.9K
NOI $25,311 @ 7.0% cap · market cap 6.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$453.3K
$396.7K – $528.9K
NOI $31,734 @ 7.0% cap · market cap 8.24%
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
479
Businesses Nearby
30k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 93%
Electronics 7%
Citgo
Shops & Services
8,844 visits/mo
0.1 miles
Family Dollar
Shops & Services
8,213 visits/mo
0.4 miles
Marathon Petroleum
Shops & Services
7,099 visits/mo
0.2 miles
Sunoco
Shops & Services
3,224 visits/mo
0.5 miles
Metro by T-Mobile
Electronics
1,155 visits/mo
0.4 miles
Demographics for 48089, MI
32,012
Population
13,597
Households
2.4
Avg Household Size
35
Median Age
11%
College-Educated
83%
High-School Grad
8.0 sq mi
ZIP Area
4,002
Density / Sq Mi
$53,076
Median Household Income
$35,786
Median Earnings
$1,187
Median Rent
$117,300
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?
Storefront property - Renovated commercial building with dedicated parking, signage opportunities, and adaptable space along Van Dyke Avenue.
Where is this storefront property located?
The property is located at 21511 Van Dyke Ave Warren, MI.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Combined 0.51‑acre property includes vacant lot at 21543 Van Dyke; 21511 Van Dyke Avenue storefront building constructed in 1951; Building renovated in recent years
