32-Unit Apartment
New
For Sale
$3,010,000
25911 Michigan Ave, Inkster, MI 48141
A 2024 renovation updated the interiors, roof, windows, and exterior.
Property Size22,550 SF
Days on Market2
Property Features for 25911 Michigan Ave
General Information
Standard status
Active
Size
22,550 SF
Property subtype
Investment
Occupancy
100%
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Gross Income
$383,520
Multifamily Units
32
Taxes and HOA fees
Annual Taxes
$55,597
Building Details
Building Size
22,550 SF
Year Built
1960
Year Renovated
2024
Units
32
Listing Agency:
Premier Realty Service LLC
Listed By:
Maryott Tijerina
(248) 255-2474
Source:
Elliman
Added: Oct 14
Changed: Oct 15
Last Checked: Oct 15 at 2:24AM
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 Premier Realty Service LLC
Investment Insights
Based on property information with market context.
This 32-unit apartment property was renovated in 2024, with work spanning the interior, roof, windows, and exterior. The building dates to 1960 and is fully occupied, with a mix of market-rate leases and Housing Choice Voucher contracts.
The property is served entirely by electricity, with no natural gas service on site. It is located on the Michigan Avenue corridor in Inkster, with stated connectivity to Dearborn, Detroit Metropolitan Wayne County Airport, I-94, and nearby employment and commercial centers.
The property is served entirely by electricity, with no natural gas service on site. It is located on the Michigan Avenue corridor in Inkster, with stated connectivity to Dearborn, Detroit Metropolitan Wayne County Airport, I-94, and nearby employment and commercial centers.
Key Highlights
- 32 apartment units; 100% occupancy
- 2024 renovation included interior rehabilitation, a new roof, replacement windows, and exterior updates
- Lease mix includes market‑rate tenants and Housing Choice Voucher contracts
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$203,287
Cap Rate
6.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,065,740
$4.1M
Cap Rate 7%
$2,904,100
$2.9M
Cap Rate 9%
$2,258,744
$2.3M
Market Conditions
NOI Build-Up for 22,550 SF
Gross rent
$392.4K $17.40/SF
− Vacancy
−$22.8K −$1.01/SF
EGI
$369.6K $16.39/SF
− OpEx
−$166.3K −$7.38/SF
NOI
$203.3K $9.01/SF
Area
Wayne County, MI
Vacancy
5.80%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,065,740
Cap Rate 7%
$2,904,100
Cap Rate 9%
$2,258,744
Alternative Uses
Best Use
Apartment 5plus
$2.90M
$2.54M – $3.39M
NOI $203,287 @ 7.0% cap · market cap 6.75%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.17M
$3.65M – $4.87M
NOI $292,248 @ 7.0% cap · market cap 9.71%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
32
Residential units
100%
Occupancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
430
Businesses Nearby
Explore this area
Business Placement
Demographics for 48141, MI
26,088
Population
11,497
Households
2.3
Avg Household Size
34
Median Age
12%
College-Educated
83%
High-School Grad
6.3 sq mi
ZIP Area
4,141
Density / Sq Mi
$39,632
Median Household Income
$32,135
Median Earnings
$1,127
Median Rent
$75,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Apartment building - A 2024 renovation updated the interiors, roof, windows, and exterior.
Where is this apartment building located?
The property is located at 25911 Michigan Ave Inkster, MI.
What is the asking price?
The asking price for this property is $3,010,000.
What are key features of this property?
This property features: 32 apartment units; 100% occupancy; 2024 renovation included interior rehabilitation, a new roof, replacement windows, and exterior updates; Lease mix includes market‑rate tenants and Housing Choice Voucher contracts
