Well-Maintained Retail Plaza For
For Sale
Contact for pricing
22909 Van Born Road, Taylor, MI 48180
Retail plaza featuring three stores with parking and updated features.
Property Size3,850 SF
Price / SF$129.84
Days on Market305
Property Features for 22909 Van Born Road
General Information
Standard status
Active
Size
3,850 SF
Property subtype
Retail, Office, Mixed Use
Building Details
Year Built
1973
Listing Agency:
CENTURY 21 Curran & Oberski Dearborn Heights
(313) 274-7200
Listed By:
Ali T. Charara · License #MI
Source:
Crexi
Added: Oct 21, 2025
Changed: Jul 10
Last Checked: Aug 20 at 8:58PM
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 well-maintained plaza features three retail stores, each equipped with its own bathroom and storage area. The units include updated air conditioning, new doors, and windows. A back door provides access to a spacious, fenced parking lot. The property offers both front and back parking. It is suitable for retail, office, or service businesses. The property is clean, updated, and move-in ready. The property size is 3850 square feet.
Key Highlights
- Well‑maintained plaza suitable for retail, office, or service businesses.
- Three retail stores, each with a private bathroom and storage area.
- Spacious parking lot with both front and fenced back parking.
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
$36,480
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
7.30%
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%
$729,600
$729.6K
Cap Rate 7%
$521,143
$521.1K
Cap Rate 9%
$405,333
$405.3K
Market Conditions
NOI Build-Up for 3,850 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
$55.4K $14.40/SF
− Vacancy
−$3.3K −$0.86/SF
EGI
$52.1K $13.54/SF
− OpEx
−$15.6K −$4.06/SF
NOI
$36.5K $9.48/SF
Area
Wayne County, MI
Vacancy
6.00%
Lease Rate
$14.40 /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%
$729,600
Cap Rate 7%
$521,143
Cap Rate 9%
$405,333
Alternative Uses
Best Use
Retail
$521.1K
$456.0K – $608.0K
NOI $36,480 @ 7.0% cap · market cap 7.30%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$712.8K
$623.7K – $831.6K
NOI $49,896 @ 7.0% cap · market cap 9.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
331
Businesses Nearby
29k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 97%
Electronics 3%
Exxon
Shops & Services
7,318 visits/mo
0.4 miles
Family Dollar
Shops & Services
7,014 visits/mo
0.2 miles
Chase Bank
Shops & Services
6,834 visits/mo
0.1 miles
O'Reilly Auto Parts
Shops & Services
4,922 visits/mo
0.2 miles
7-Eleven
Shops & Services
2,278 visits/mo
0.4 miles
Demographics for 48180, MI
63,409
Population
26,741
Households
2.4
Avg Household Size
39
Median Age
16%
College-Educated
87%
High-School Grad
23.6 sq mi
ZIP Area
2,687
Density / Sq Mi
$59,537
Median Household Income
$40,090
Median Earnings
$1,036
Median Rent
$141,200
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?
Retail space - Retail plaza featuring three stores with parking and updated features.
Where is this retail space located?
The property is located at 22909 Van Born Road Taylor, MI.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Well‑maintained plaza suitable for retail, office, or service businesses.; Three retail stores, each with a private bathroom and storage area.; Spacious parking lot with both front and fenced back parking.
