Mixed-Use Property With
New
For Sale
$699,900
23589 Van Born Road, Taylor, MI 48180
Multifamily, 2 Story, Taylor, MI
Property Size6,642 SF
Lot Size0.10 Acres
Price / SF$105.37
Days on Market1
Property Features for 23589 Van Born Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Commercial,Office,Residen
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Bedroom 6, Bathroom 2, Bedroom 2, Bathroom 1, Bedroom 3, Bedroom 1, Bathroom 3, Bathroom 4, Bedroom 4
Pets allowed
Yes
Subdivision
Dearborn-Telegraph-Twnlne Sub 2-Taylor
Elementary school district
Taylor
Middle school district
Taylor
High school district
Taylor
Directions
Van Born and Telegraph
Standard status
Active
APN
60006020956000
Size
6,642 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Description
04D956 957 LOTS 956 AND 957 DEARBORN-TELEGRAPH-TOWNLINE SUB NO. 2 T3S R10E L54 P47 WCR
Tax Annual Amount
7522
Legal Description
04D956 957 LOTS 956 AND 957 DEARBORN-TELEGRAPH-TOWNLINE SUB NO. 2 T3S R10E L54 P47 WCR
Utilities
Heating system
Forced Air
Water source
Public
Building Details
Year built
1953
Floors in Building
2
Number of units
4
Building materials
Block, Brick
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Keller Williams Advantage · Keller Williams Realty
(248) 380-8800
Listed By:
Linda L Leporowski · License #6501305996
(248) 380-8800
Added: Aug 20
Last Checked: Aug 20 at 7:06PM
MLS# 20261066576
Copyright © 2026 Realcomp Limited II. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 6,642-square-foot mixed-use property includes two commercial storefronts and two residential apartments. One commercial suite contains a salon layout with a lobby, private restroom, and multiple individual rooms, while the other provides an open photography-studio configuration with a private bathroom. The residential units each offer an open floor plan with three bedrooms and one bathroom, and both are currently leased.
The property occupies a 0.1-acre corner site at Van Born Road and Telegraph Road in Taylor, Michigan. The sale includes an adjoining garage and parking lot, adding space for vehicle parking, storage, or business operations. Built in 1953, the property has block and brick construction, an asphalt roof, forced-air heating, and public water service. Zoning is identified as Commercial,Office,Residen.
The property occupies a 0.1-acre corner site at Van Born Road and Telegraph Road in Taylor, Michigan. The sale includes an adjoining garage and parking lot, adding space for vehicle parking, storage, or business operations. Built in 1953, the property has block and brick construction, an asphalt roof, forced-air heating, and public water service. Zoning is identified as Commercial,Office,Residen.
Key Highlights
- 6,642‑square‑foot mixed‑use property with two commercial storefronts and two residential apartments
- Two leased apartments, each with 3 bedrooms, 1 bathroom, and almost 1500 square feet
- Commercial spaces include a salon layout and an open photography studio
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
$62,934
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
8.99%
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%
$1,258,680
$1.3M
Cap Rate 7%
$899,057
$899.1K
Cap Rate 9%
$699,267
$699.3K
Market Conditions
NOI Build-Up for 6,642 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
$95.6K $14.40/SF
− Vacancy
−$5.7K −$0.86/SF
EGI
$89.9K $13.54/SF
− OpEx
−$27.0K −$4.06/SF
NOI
$62.9K $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%
$1,258,680
Cap Rate 7%
$899,057
Cap Rate 9%
$699,267
Alternative Uses
Best Use
Mixed Use
$1.13M
$986.3K – $1.32M
NOI $78,907 @ 7.0% cap · market cap 11.27%
Second Best
Retail
$899.1K
$786.7K – $1.05M
NOI $62,934 @ 7.0% cap · market cap 8.99%
Theoretical Best
Specialty Retail
$1.23M
$1.08M – $1.43M
NOI $86,080 @ 7.0% cap · market cap 12.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
319
Businesses Nearby
Explore this area
Business Placement
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 Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two commercial spaces and leased apartments combine retail, office, and residential components at a signalized corner location.
Where is this mixed-use property located?
The property is located at 23589 Van Born Road Taylor, MI.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: 6,642‑square‑foot mixed‑use property with two commercial storefronts and two residential apartments; Two leased apartments, each with 3 bedrooms, 1 bathroom, and almost 1500 square feet; Commercial spaces include a salon layout and an open photography studio
