Retail Building Requiring
For Sale
$250,000
2625-2645 S Wayne Road, Westland, MI 48186
CB-4-zoned storefront with retail or street-retail use potential and a remodeling requirement.
Property Size1,400 SF
Price / SF$178.57
Days on Market126
Property Features for 2625-2645 S Wayne Road
General Information
Standard status
Active
Size
1,400 SF
Property subtype
Retail
Zoning
CB-4
Property Condition
Severity
Repairs Needed
Evidence
needs remodeling
Building Details
Building Size
1,400 SF
Listing Agency:
Keystone Commercial Real Estate
(248) 406-1761
Listed By:
Kathleen Garmo · License #6501415998
(248) 406-1761
Source:
Cpix.resimplifi
Added: Apr 27
Changed: Aug 29
Last Checked: Aug 29 at 10:48PM
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 Keystone Commercial Real Estate
Investment Insights
Based on property information with market context.
This storefront property on S Wayne Road in Westland is configured for retail or street-retail use and contains approximately 1,400 square feet. The building requires remodeling, with water damage identified in the existing improvements.
The property is positioned in a high-traffic commercial setting near major thoroughfares, supporting exposure for a retail-oriented operation. CB-4 zoning provides the stated land-use designation for the site. Its address is 2625-2645 S Wayne Road, Westland, MI 48186.
The property is positioned in a high-traffic commercial setting near major thoroughfares, supporting exposure for a retail-oriented operation. CB-4 zoning provides the stated land-use designation for the site. Its address is 2625-2645 S Wayne Road, Westland, MI 48186.
Key Highlights
- CB‑4 zoning
- Approximately 1,400‑square‑foot storefront property
- Building requires remodeling; water damage identified
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
$13,265
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
5.31%
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%
$265,300
$265.3K
Cap Rate 7%
$189,500
$189.5K
Cap Rate 9%
$147,389
$147.4K
Market Conditions
NOI Build-Up for 1,400 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
$20.2K $14.40/SF
− Vacancy
−$1.2K −$0.86/SF
EGI
$19.0K $13.54/SF
− OpEx
−$5.7K −$4.06/SF
NOI
$13.3K $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%
$265,300
Cap Rate 7%
$189,500
Cap Rate 9%
$147,389
Alternative Uses
Best Use
Retail
$189.5K
$165.8K – $221.1K
NOI $13,265 @ 7.0% cap · market cap 5.31%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$259.2K
$226.8K – $302.4K
NOI $18,144 @ 7.0% cap · market cap 7.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
630
Businesses Nearby
110k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 49%
Shops & Services 44%
Home Improvements & Furnishings 6%
Electronics 1%
McDonald's
Dining
22,712 visits/mo
0.4 miles
Taco Bell
Dining
13,870 visits/mo
0.3 miles
Dollar Tree
Shops & Services
12,170 visits/mo
0.1 miles
Checkers
Dining
8,470 visits/mo
0.3 miles
Marathon
Shops & Services
7,411 visits/mo
0.0 miles
Demographics for 48186, MI
35,690
Population
14,543
Households
2.5
Avg Household Size
39
Median Age
19%
College-Educated
88%
High-School Grad
8.3 sq mi
ZIP Area
4,300
Density / Sq Mi
$67,203
Median Household Income
$37,591
Median Earnings
$1,083
Median Rent
$167,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Flowers in the Mitten — 34852 W Michigan Ave, Wayne, MI 48184
- Evie's Fiori — 35065 Glenwood Rd, Wayne, MI 48184
Frequently Asked Questions
What type of property is this?
Storefront property - CB-4-zoned storefront with retail or street-retail use potential and a remodeling requirement.
Where is this storefront property located?
The property is located at 2625-2645 S Wayne Road Westland, MI.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: CB‑4 zoning; Approximately 1,400‑square‑foot storefront property; Building requires remodeling; water damage identified
