Warren Investment Opportunity: Motel,
For Sale
Contact for pricing
28710 Van Dyke Ave, Warren, MI 48093
Mixed-use property with motel, restaurant, house, and apartment.
Property Size7,335 SF
Lot Size0.88 Acres
Price / SF$252.22
Days on Market351
Property Features for 28710 Van Dyke Ave
General Information
Standard status
Active
Size
7,335 SF
Class
B
Total Parking Spaces
40
Lot size
0.88 Acres
Property subtype
Hospitality, Retail
Zoning
C-2 | R-1
Occupancy
100%
Lease Type
Gross
Investment Type
Stabilized
Net Operating Income
$237,388
Building Details
Year Renovated
2020
Units
24
Tenancy
Multi
Listing Agency:
The Herish Group
(586) 999-9286
Listed By:
Elias Herish · License #6505406439
Source:
Crexi
Added: Sep 4, 2025
Changed: Aug 12
Last Checked: Aug 19 at 5:28AM
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 The Herish Group
Investment Insights
Based on property information with market context.
Located at 28710 Van Dyke Ave, Warren, MI 48093, this property features a 24-unit extended stay motel, a house, a restaurant, and an apartment. Situated on 0.88 acres with 246 feet of frontage on Van Dyke Avenue, the property is positioned in a retail corridor near national tenants and Warren's manufacturing and automotive facilities. The location benefits from a daily vehicle count of 75,000 and proximity to 30,000 employees within a one-mile radius. The property includes 40 parking spaces and an on-site manager available 24/7. Recent renovations were completed in 2022, including resurfacing of the parking lot and updates to the restaurant, which has a new 3-year lease. The property size is 7,335 square feet.
Key Highlights
- High 10.79% Cap Rate
- Recession and Pandemic‑Proof Investment with Multiple Income Streams
- Prime Location in Retail Corridor with High Traffic and Visibility
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
$106,614
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
5.76%
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%
$2,132,280
$2.1M
Cap Rate 7%
$1,523,057
$1.5M
Cap Rate 9%
$1,184,600
$1.2M
Market Conditions
NOI Build-Up for 7,335 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
$149.6K $20.40/SF
− Vacancy
−$7.5K −$1.02/SF
EGI
$142.2K $19.38/SF
− OpEx
−$35.5K −$4.85/SF
NOI
$106.6K $14.54/SF
Area
Warren, MI
Vacancy
5.00%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
25.00%
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%
$2,132,280
Cap Rate 7%
$1,523,057
Cap Rate 9%
$1,184,600
Alternative Uses
Best Use
Specialty Retail
$1.52M
$1.33M – $1.78M
NOI $106,614 @ 7.0% cap · market cap 5.76%
Second Best
Hotel Hospitality
$537.6K
$470.4K – $627.2K
NOI $37,629 @ 7.0% cap · market cap 2.03%
Theoretical Best
Office A
$1.62M
$1.42M – $1.89M
NOI $113,269 @ 7.0% cap · market cap 6.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
480
Businesses Nearby
326k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 48%
Shops & Services 21%
Apparel 18%
Dining 13%
Walmart
Superstores
155,862 visits/mo
0.2 miles
Five Below
Shops & Services
45,728 visits/mo
0.3 miles
Marshalls
Apparel
33,274 visits/mo
0.3 miles
Applebee's
Dining
19,612 visits/mo
0.1 miles
Tim Hortons
Dining
12,036 visits/mo
0.1 miles
Demographics for 48093, MI
24,780
Population
10,480
Households
2.4
Avg Household Size
43
Median Age
26%
College-Educated
91%
High-School Grad
5.9 sq mi
ZIP Area
4,200
Density / Sq Mi
$66,420
Median Household Income
$42,685
Median Earnings
$1,123
Median Rent
$197,100
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Motel - Mixed-use property with motel, restaurant, house, and apartment.
Where is this motel located?
The property is located at 28710 Van Dyke Ave Warren, MI.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: High 10.79% Cap Rate; Recession and Pandemic‑Proof Investment with Multiple Income Streams; Prime Location in Retail Corridor with High Traffic and Visibility
