Two-Story Live-Work
New
For Sale
$330,000
2300 Ford Ave, Wyandotte, MI 48192
Commercial space and an upstairs apartment create a flexible owner-user or rental configuration.
Property Size3,484 SF
Price / SF$94.72
Days on Market2
Property Features for 2300 Ford Ave
General Information
Standard status
Active
Size
3,484 SF
Total Parking Spaces
4
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$4,621
Building Details
Building Size
3,484 SF
Year Built
1955
Buildings
1
Stories
2
Units
2
Listing Agency:
KW Commercial | Paint Creek | Brian Kirksey
(248) 336-2086
Listed By:
Brian Kirksey
(248) 336-2086
Source:
Elliman
Added: Aug 15
Changed: Aug 16
Last Checked: Aug 16 at 4:17AM
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 KW Commercial | Paint Creek | Brian Kirksey
Investment Insights
Based on property information with market context.
Built in 1955, this 3,484-square-foot, two-story property combines a ground-floor commercial area with a second-floor residential apartment. The commercial portion can accommodate storefront, studio, office, or service-oriented use, while the apartment includes 2 bedrooms and 1 bathroom. This configuration supports an owner-user arrangement or separate commercial and residential occupancy.
The property is located at 2300 Ford Ave in Wyandotte, Michigan, with visibility along Ford Ave and access to parking through the rear alley. Parking includes an attached 1-car garage and 3 additional surface spaces. Walk Score is 72 and Bike Score is 49.
The property is located at 2300 Ford Ave in Wyandotte, Michigan, with visibility along Ford Ave and access to parking through the rear alley. Parking includes an attached 1-car garage and 3 additional surface spaces. Walk Score is 72 and Bike Score is 49.
Key Highlights
- 3,484 SF two‑story live‑work building built in 1955
- Ground‑floor commercial space with storefront, studio, office, or service‑use potential
- Second‑floor apartment includes 2 bedrooms and 1 bathroom
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
$11,994
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
3.63%
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%
$239,880
$239.9K
Cap Rate 7%
$171,343
$171.3K
Cap Rate 9%
$133,267
$133.3K
Market Conditions
NOI Build-Up for 3,484 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
$20.9K $6.00/SF
− Vacancy
−$4.9K −$1.41/SF
EGI
$16.0K $4.59/SF
− OpEx
−$4.0K −$1.15/SF
NOI
$12.0K $3.44/SF
Area
Wayne County, MI
Vacancy
23.50%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
25.00%
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%
$239,880
Cap Rate 7%
$171,343
Cap Rate 9%
$133,267
Alternative Uses
Best Use
Mixed Use
$591.3K
$517.4K – $689.8K
NOI $41,390 @ 7.0% cap · market cap 12.54%
Second Best
Retail
$471.6K
$412.7K – $550.2K
NOI $33,012 @ 7.0% cap · market cap 10.00%
Theoretical Best
Specialty Retail
$645.0K
$564.4K – $752.6K
NOI $45,153 @ 7.0% cap · market cap 13.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
545
Businesses Nearby
Explore this area
Business Placement
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Live-work space - Commercial space and an upstairs apartment create a flexible owner-user or rental configuration.
Where is this live-work space located?
The property is located at 2300 Ford Ave Wyandotte, MI.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: 3,484 SF two‑story live‑work building built in 1955; Ground‑floor commercial space with storefront, studio, office, or service‑use potential; Second‑floor apartment includes 2 bedrooms and 1 bathroom
