Versatile Office
For Sale
$1,100,000
2730 CANIFF ST, Hamtramck, MI 48212
Well-maintained commercial building with dedicated private parking for up to 20 vehicles and use subject to deed restrictions.
Property Size9,600 SF
Price / SF$114.58
Days on Market70
Property Features for 2730 CANIFF ST
General Information
Standard status
Active
Size
9,600 SF
Total Parking Spaces
20
Property subtype
Industrial
Amenities
3
Listing Agency:
XPI Realty
(313) 424-9962
Listed By:
Ben Bawazir · License #6501359047
(313) 424-9962
Source:
Xome
Added: Jun 1
Changed: Aug 8
Last Checked: Aug 9 at 4:39AM
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 XPI Realty
Investment Insights
Based on property information with market context.
This well-maintained commercial building offers a turn-key setup suited for a range of professional uses, including medical urgent care, private school, fitness center, or office headquarters. The property includes a dedicated private parking lot accommodating up to 20 vehicles, supporting day-to-day operations and client or student access.
Located in Hamtramck, the building is positioned in a high-visibility area with strong foot traffic and community presence. Please note that the property use is subject to specific deed restrictions from the previous owner; it cannot be used as a house of worship for non-Christian religions, including mosques.
Overall, the asset is designed to support high-value, service-oriented tenancy with on-site parking and a clear, turn-key presentation, while remaining mindful of the deed restriction limitations.
Located in Hamtramck, the building is positioned in a high-visibility area with strong foot traffic and community presence. Please note that the property use is subject to specific deed restrictions from the previous owner; it cannot be used as a house of worship for non-Christian religions, including mosques.
Overall, the asset is designed to support high-value, service-oriented tenancy with on-site parking and a clear, turn-key presentation, while remaining mindful of the deed restriction limitations.
Key Highlights
- Well‑maintained commercial building in Hamtramck, with potential uses including medical urgent care, private school, fitness center, or professional office
- Dedicated private parking lot with capacity for up to 20 vehicles
- Property includes 3 guest facilities
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
$101,094
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
9.19%
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%
$2,021,880
$2.0M
Cap Rate 7%
$1,444,200
$1.4M
Cap Rate 9%
$1,123,267
$1.1M
Market Conditions
NOI Build-Up for 9,600 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
$192.4K $20.04/SF
− Vacancy
−$23.9K −$2.49/SF
EGI
$168.5K $17.55/SF
− OpEx
−$67.4K −$7.02/SF
NOI
$101.1K $10.53/SF
Area
Wayne County, MI
Vacancy
12.42%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
40.00%
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%
$2,021,880
Cap Rate 7%
$1,444,200
Cap Rate 9%
$1,123,267
Alternative Uses
Best Use
Healthcare Medical
$1.44M
$1.26M – $1.68M
NOI $101,094 @ 7.0% cap · market cap 9.19%
Second Best
Office B
$472.1K
$413.1K – $550.8K
NOI $33,048 @ 7.0% cap · market cap 3.00%
Theoretical Best
Specialty Retail
$1.78M
$1.56M – $2.07M
NOI $124,416 @ 7.0% cap · market cap 11.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
560
Businesses Nearby
Explore this area
Business Placement
Demographics for 48212, MI
43,192
Population
14,739
Households
2.9
Avg Household Size
29
Median Age
16%
College-Educated
68%
High-School Grad
5.3 sq mi
ZIP Area
8,149
Density / Sq Mi
$37,293
Median Household Income
$28,894
Median Earnings
$935
Median Rent
$98,200
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Well-maintained commercial building with dedicated private parking for up to 20 vehicles and use subject to deed restrictions.
Where is this office building located?
The property is located at 2730 CANIFF ST Hamtramck, MI.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Well‑maintained commercial building in Hamtramck, with potential uses including medical urgent care, private school, fitness center, or professional office; Dedicated private parking lot with capacity for up to 20 vehicles; Property includes 3 guest facilities
