Mixed-Use Property with Residential
For Sale
Contact for pricing
2744 LAWRENCE ST, Detroit, MI 48206
This property was built in 1924 and carries a residential zoning designation.
Property Size1,406 SF
Price / SF$170.63
Days on Market58
Property Features for 2744 LAWRENCE ST
General Information
Standard status
Active
Size
1,406 SF
Property subtype
Mixed Use
Zoning
Residential
Occupancy
100%
Investment Type
Net Lease
Building Details
Year Built
1924
Year Renovated
2025
Stories
2
Units
1
Tenancy
Single
Listing Agency:
eXp Realty LLC - Michigan
Listed By:
Sotero Lopez II · License #MI 6501379765
(586) 863-3300
Source:
Crexi
Added: Aug 10
Changed: Sep 6
Last Checked: Oct 5 at 7:20PM
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 eXp Realty LLC - Michigan
Investment Insights
Based on property information with market context.
Located at 2744 Lawrence St in Detroit, this mixed-use property contains 1,406 SF and was built in 1924. The site carries a Residential zoning designation, providing a clear land-use classification for evaluation.
Key Highlights
- 1,406 SF property
- Built in 1924
- Residential zoning designation
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,703
Cap Rate
6.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$334,060
$334.1K
Cap Rate 7%
$238,614
$238.6K
Cap Rate 9%
$185,589
$185.6K
Market Conditions
NOI Build-Up for 1,406 SF
Gross rent
$30.4K $21.60/SF
− Vacancy
−$3.6K −$2.59/SF
EGI
$26.7K $19.01/SF
− OpEx
−$10.0K −$7.13/SF
NOI
$16.7K $11.88/SF
Area
Detroit, MI
Vacancy
12.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$334,060
Cap Rate 7%
$238,614
Cap Rate 9%
$185,589
Alternative Uses
Best Use
Mixed Use
$238.6K
$208.8K – $278.4K
NOI $16,703 @ 7.0% cap · market cap 6.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$310.2K
$271.4K – $361.9K
NOI $21,712 @ 7.0% cap · market cap 9.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
330
Businesses Nearby
Explore this area
Business Placement
Demographics for 48206, MI
15,712
Population
10,784
Households
1.5
Avg Household Size
38
Median Age
24%
College-Educated
89%
High-School Grad
3.1 sq mi
ZIP Area
5,068
Density / Sq Mi
$43,702
Median Household Income
$36,674
Median Earnings
$923
Median Rent
$102,300
Median Home Value
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Frequently Asked Questions
What type of property is this?
Mixed-use property - This property was built in 1924 and carries a residential zoning designation.
Where is this mixed-use property located?
The property is located at 2744 LAWRENCE ST Detroit, MI.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: 1,406 SF property; Built in 1924; Residential zoning designation
