West Dearborn Retail Building For
For Sale
Contact for pricing
22680 Newman Street, Dearborn, MI 48124
Two-story retail building in West Dearborn with private parking.
Property Size5,570 SF
Price / SF$341.11
Days on Market87
Property Features for 22680 Newman Street
General Information
Standard status
Active
Size
5,570 SF
Property subtype
Special Purpose
Zoning
BC
Building Details
Year Built
2002
Listing Agency:
CENTURY 21 Curran & Oberski Dearborn Heights
(313) 274-7200
Listed By:
Ali T. Charara · License #MI
Source:
Crexi
Added: May 16
Changed: Aug 8
Last Checked: Aug 8 at 3:15PM
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 CENTURY 21 Curran & Oberski Dearborn Heights
Investment Insights
Based on property information with market context.
This two-story retail building, formerly a bridal boutique, is located in the West Dearborn area. The building offers 5,570 square feet of space, with 2,785 square feet on each level. An elevator provides access between floors. The property includes a private parking lot, and the owner controls an adjacent lot, potentially providing additional parking. This location may be suitable for various retail or service-based businesses.
Key Highlights
- Prime location in the heart of West Dearborn with exceptional visibility.
- Substantial space: 5,570 SF across two floors (2,785 SF per level).
- Private parking lot included.**
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
$68,605
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
3.61%
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%
$1,372,100
$1.4M
Cap Rate 7%
$980,071
$980.1K
Cap Rate 9%
$762,278
$762.3K
Market Conditions
NOI Build-Up for 5,570 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
$103.6K $18.60/SF
− Vacancy
−$5.6K −$1.00/SF
EGI
$98.0K $17.60/SF
− OpEx
−$29.4K −$5.28/SF
NOI
$68.6K $12.32/SF
Area
Dearborn, 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%
$1,372,100
Cap Rate 7%
$980,071
Cap Rate 9%
$762,278
Alternative Uses
Best Use
Retail
$980.1K
$857.6K – $1.14M
NOI $68,605 @ 7.0% cap · market cap 3.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.23M
$1.08M – $1.43M
NOI $86,013 @ 7.0% cap · market cap 4.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,085
Businesses Nearby
128k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 81%
Shops & Services 15%
Apparel 2%
Hotels & Casinos 1%
Ford's Garage
Dining
45,220 visits/mo
0.1 miles
Buffalo Wild Wings
Dining
18,533 visits/mo
0.5 miles
Buddy's Pizza
Dining
15,252 visits/mo
0.4 miles
Tim Hortons
Dining
14,359 visits/mo
0.1 miles
Comerica Bank
Shops & Services
11,306 visits/mo
0.4 miles
Demographics for 48124, MI
34,134
Population
14,787
Households
2.3
Avg Household Size
39
Median Age
40%
College-Educated
94%
High-School Grad
8.8 sq mi
ZIP Area
3,879
Density / Sq Mi
$78,353
Median Household Income
$49,103
Median Earnings
$1,280
Median Rent
$192,100
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Two-story retail building in West Dearborn with private parking.
Where is this storefront property located?
The property is located at 22680 Newman Street Dearborn, MI.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Prime location in the heart of West Dearborn with exceptional visibility.; Substantial space: **5,570 SF across two floors (2,785 SF per level).**; Private parking lot included.**
