Mixed-Use Property with
2544 Michigan Avenue Unit SourceFi Detroit, MI 48216
2544 Michigan Avenue Unit SourceFi, Detroit, MI, 48216
$800,000
For Sale
$800,000
Property includes two commercial storefronts, two residential units, and additional vacant land with fenced, alley-accessible parking.
Property Size3,680 SF
Price / SF$217.39
Days on Market107
Property Features for 2544 Michigan Avenue Unit SourceFi
General Information
- Standard status
- Active
- Size
- 3,680 SF
- Property subtype
- Industrial
Building Details
- Year Built
- 19
Listing agency
DTW Experts LLC
(313) 303-6125
Listed by
Noor Elmoussaoui · License #446607
(313) 303-6125
Source
Xome
Added: Apr 6 Updated: Jul 18 at 4:43AM Checked: Jul 21 at 3:02AM
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 DTW Experts LLC
Investment Insights
Based on property information with market context.
This mixed-use property includes two commercial storefronts and two residential units, along with additional vacant land. The included vacant lot is privately fenced and provides alley access, offering on-site space that can support parking, tenant needs, or other future uses.
The asset is located on Michigan Avenue in Corktown, within close proximity to Michigan Central Station and the future Detroit City Football Club Stadium. The property is part of a package offering and is being sold only together with 2532, 2538, and 2526 Michigan Avenue.
All measurements are estimated. Buyer to verify all information (BATVAI).
The asset is located on Michigan Avenue in Corktown, within close proximity to Michigan Central Station and the future Detroit City Football Club Stadium. The property is part of a package offering and is being sold only together with 2532, 2538, and 2526 Michigan Avenue.
All measurements are estimated. Buyer to verify all information (BATVAI).
Key Highlights
- Mixed‑use property with 2 commercial storefronts and 2 residential units
- Additional vacant land with a privately fenced lot and alley access for parking, tenant amenities, or future development
- Lot dimensions listed as 20,100 (buyer to verify all information)
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $68.4k | $18.60 |
| − Vacancy | −$3.7k | −$1.00 |
| EGI | $64.8k | $17.60 |
| − OpEx | −$19.4k | −$5.28 |
| NOI | $45.3k | $12.32 |
3,680 SF · lease $18.60/SF/yr · vacancy 5.40% · expense 30.00%
Alternative Uses
Best Use
Retail
$647.5K
$566.6K – $755.4K
NOI $45,326 @ 7.0% cap · market cap 5.67%
Second Best
Mixed Use
$624.5K
$546.5K – $728.6K
NOI $43,718 @ 7.0% cap · market cap 5.46%
Theoretical Best
Office A
$811.8K
$710.4K – $947.1K
NOI $56,828 @ 7.0% cap · market cap 7.10%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Storefront properties
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FAQs
What type of property is this?
Mixed-use property - Property includes two commercial storefronts, two residential units, and additional vacant land with fenced, alley-accessible parking.
Where is this mixed-use property located?
The property is located at 2544 Michigan Avenue Unit SourceFi Detroit, MI.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Mixed‑use property with 2 commercial storefronts and 2 residential units; Additional vacant land with a privately fenced lot and alley access for parking, tenant amenities, or future development; Lot dimensions listed as 20,100 (buyer to verify all information)
