Mixed-Use Property with Corner
For Sale
$600,000
23919 John R Rd, Hazel Park, MI 48030
Town Center zoning accommodates multifamily, retail, restaurant, and other mixed-use redevelopment concepts.
Property Size4,988 SF
Price / SF$120.29
Days on Market56
Property Features for 23919 John R Rd
General Information
Standard status
Active
Size
4,988 SF
Building Details
Year Built
1951
Listing Agency:
Good Company
Listed By:
Jim Shaffer · License #6502380733
(248) 834-3030
Source:
Katie-k
Added: Aug 19
Changed: Sep 15
Last Checked: Oct 11 at 12:44PM
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 Good Company
Investment Insights
Based on property information with market context.
Built in 1951, this mixed-use property occupies a prominent corner parcel and includes a navy brick building with a covered front entry, side porte-cochere, attached garage, and basement. The interior contains a large foyer, multiple spacious rooms, oversized windows, open framing, tall ceilings, and a sunroom-style addition with a peaked roof. Much of the interior has been removed to create a flexible starting point for redevelopment.
The property is located on John R Road in Hazel Park, within Oakland County and along the John R Corridor. Birmingham, Bloomfield Hills, and Rochester are approximately 15 minutes away, while Detroit’s Midtown is also about 15 minutes from the site. Exterior parking is provided, with additional paved parking on the adjacent surface lot. Town Center zoning is identified for multifamily residential, mixed-use, retail, and restaurant concepts.
The property is located on John R Road in Hazel Park, within Oakland County and along the John R Corridor. Birmingham, Bloomfield Hills, and Rochester are approximately 15 minutes away, while Detroit’s Midtown is also about 15 minutes from the site. Exterior parking is provided, with additional paved parking on the adjacent surface lot. Town Center zoning is identified for multifamily residential, mixed-use, retail, and restaurant concepts.
Key Highlights
- Town Center (TC) zoning identified for multifamily, mixed‑use, retail, and restaurant concepts
- 4,988 property size
- Built in 1951
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,504
Cap Rate
8.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,010,080
$1.0M
Cap Rate 7%
$721,486
$721.5K
Cap Rate 9%
$561,156
$561.2K
Market Conditions
NOI Build-Up for 4,988 SF
Gross rent
$89.8K $18.00/SF
− Vacancy
−$9.0K −$1.80/SF
EGI
$80.8K $16.20/SF
− OpEx
−$30.3K −$6.07/SF
NOI
$50.5K $10.13/SF
Area
Oakland County, MI
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,010,080
Cap Rate 7%
$721,486
Cap Rate 9%
$561,156
Alternative Uses
Best Use
Mixed Use
$721.5K
$631.3K – $841.7K
NOI $50,504 @ 7.0% cap · market cap 8.42%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.08M
$941.4K – $1.26M
NOI $75,311 @ 7.0% cap · market cap 12.55%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
672
Businesses Nearby
Explore this area
Business Placement
Demographics for 48030, MI
14,983
Population
7,149
Households
2.1
Avg Household Size
38
Median Age
25%
College-Educated
90%
High-School Grad
2.8 sq mi
ZIP Area
5,351
Density / Sq Mi
$62,878
Median Household Income
$42,374
Median Earnings
$1,221
Median Rent
$141,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Town Center zoning accommodates multifamily, retail, restaurant, and other mixed-use redevelopment concepts.
Where is this mixed-use property located?
The property is located at 23919 John R Rd Hazel Park, MI.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Town Center (TC) zoning identified for multifamily, mixed‑use, retail, and restaurant concepts; 4,988 property size; Built in 1951
