Three-Unit Retail
For Sale
$399,900
22909 VAN BORN RD, Taylor, MI 48180
Well-maintained plaza includes three retail stores, each with a private bathroom and storage area.
Property Size3,850 SF
Price / SF$103.87
Days on Market23
Property Features for 22909 VAN BORN RD
General Information
Standard status
Active
Size
3,850 SF
Property subtype
Industrial
Additional Details
Fenced Yard
Yes
Amenities
78217.5
Building Details
Year Built
19
Tenancy
Multi
Listing Agency:
Century 21 Curran & Oberski
(313) 289-2222
Listed By:
Ali Charara · License #6501340600
(313) 289-2222
Source:
Xome
Added: Jul 18
Changed: Aug 8
Last Checked: Aug 9 at 5:25AM
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
Investment Insights
Based on property information with market context.
This well-maintained retail plaza features three separate retail stores, each with its own bathroom and storage area. The property has updated air conditioning units and has undergone exterior updates including new doors and windows. For operational flexibility, there is both front and back parking, with the back parking area being fenced.
A back door provides direct access to a spacious parking lot. The configuration supports a range of storefront and service uses, including retail and office or service business operations, subject to applicable requirements.
The units are positioned to support independent in-and-out access through the parking areas, while the interior store layouts include dedicated restroom and storage space for each tenant.
A back door provides direct access to a spacious parking lot. The configuration supports a range of storefront and service uses, including retail and office or service business operations, subject to applicable requirements.
The units are positioned to support independent in-and-out access through the parking areas, while the interior store layouts include dedicated restroom and storage space for each tenant.
Key Highlights
- Well‑maintained retail plaza with 3 separate retail stores, each with its own bathroom and storage area
- Updated air conditioning units
- New doors and windows
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
9.12%
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 9.12%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$712.8K
$623.7K – $831.6K
NOI $49,896 @ 7.0% cap · market cap 12.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
334
Businesses Nearby
63k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 54%
Shops & Services 45%
Electronics 1%
Wendy's
Dining
17,729 visits/mo
0.5 miles
Burger King
Dining
13,339 visits/mo
0.5 miles
Family Dollar
Shops & Services
7,014 visits/mo
0.1 miles
Chase Bank
Shops & Services
6,834 visits/mo
0.1 miles
Shell
Shops & Services
6,283 visits/mo
0.5 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 - Well-maintained plaza includes three retail stores, each with a private bathroom and storage area.
Where is this retail space located?
The property is located at 22909 VAN BORN RD Taylor, MI.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Well‑maintained retail plaza with 3 separate retail stores, each with its own bathroom and storage area; Updated air conditioning units; New doors and windows
