Corner Lot Flex
For Sale
$200,000
300 S Oakwood, Detroit, MI 48217
Versatile flex property on a corner lot in Detroit, suited for a range of retail, office, or service uses.
Property Size1,632 SF
Price / SF$122.55
Days on Market83
Property Features for 300 S Oakwood
General Information
Standard status
Active
Size
1,632 SF
Taxes and HOA fees
Annual Taxes
$2,299
Listing Agency:
EXP Realty Main
(586) 339-4870
Listed By:
Adrienne Ponce · License #6501439342
(586) 339-4870
Source:
Exprealty
Added: Jun 3
Changed: Aug 23
Last Checked: Aug 23 at 4:34AM
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 Main
Investment Insights
Based on property information with market context.
This flex space is set up as a versatile commercial site with room to accommodate multiple concepts. The seller previously planned a buildout with a studio on one side and a car wash on the other, highlighting the property’s adaptability for mixed or changing tenant needs.
The property is located at 300 Oakwood in Detroit, MI 48217, positioned on a corner lot with prominent street exposure. Mobility in the immediate area is supported by a BikeScore of 58 and a WalkScore of 67, with a TransitScore of 36.
The layout and intended uses suggest practical fit for operators looking for flexibility, including retail, office, service-based businesses, automotive-related ventures, or creative workspace, subject to municipal approval and zoning requirements. For buyers or tenants evaluating an owner-occupy or flexible-tenant scenario, the corner-lot positioning and multi-use potential can support a variety of commercial strategies once permitted uses are confirmed.
The property is located at 300 Oakwood in Detroit, MI 48217, positioned on a corner lot with prominent street exposure. Mobility in the immediate area is supported by a BikeScore of 58 and a WalkScore of 67, with a TransitScore of 36.
The layout and intended uses suggest practical fit for operators looking for flexibility, including retail, office, service-based businesses, automotive-related ventures, or creative workspace, subject to municipal approval and zoning requirements. For buyers or tenants evaluating an owner-occupy or flexible-tenant scenario, the corner-lot positioning and multi-use potential can support a variety of commercial strategies once permitted uses are confirmed.
Key Highlights
- Commercial property at 300 Oakwood on a high‑traffic corner lot in Detroit
- Built in 1949
- Versatile layout with plans previously considered for a studio on one side and a car wash on the other
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
$11,711
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
5.86%
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%
$234,220
$234.2K
Cap Rate 7%
$167,300
$167.3K
Cap Rate 9%
$130,122
$130.1K
Market Conditions
NOI Build-Up for 1,632 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
$19.6K $12.00/SF
− Vacancy
−$1.6K −$0.96/SF
EGI
$18.0K $11.04/SF
− OpEx
−$6.3K −$3.86/SF
NOI
$11.7K $7.18/SF
Area
Detroit, MI
Vacancy
8.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
35.00%
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%
$234,220
Cap Rate 7%
$167,300
Cap Rate 9%
$130,122
Alternative Uses
Best Use
Specialty Retail
$307.7K
$269.2K – $359.0K
NOI $21,537 @ 7.0% cap · market cap 10.77%
Second Best
Retail
$287.2K
$251.3K – $335.0K
NOI $20,101 @ 7.0% cap · market cap 10.05%
Theoretical Best
Office A
$360.0K
$315.0K – $420.0K
NOI $25,202 @ 7.0% cap · market cap 12.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
191
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48217, MI
6,437
Population
3,071
Households
2.1
Avg Household Size
41
Median Age
12%
College-Educated
87%
High-School Grad
2.3 sq mi
ZIP Area
2,799
Density / Sq Mi
$46,671
Median Household Income
$33,727
Median Earnings
$1,083
Median Rent
$45,100
Median Home Value
Market
Vacancy Rate% for Industrial in Detroit, MI
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Versatile flex property on a corner lot in Detroit, suited for a range of retail, office, or service uses.
Where is this flex space located?
The property is located at 300 S Oakwood Detroit, MI.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: Commercial property at 300 Oakwood on a high‑traffic corner lot in Detroit; Built in 1949; Versatile layout with plans previously considered for a studio on one side and a car wash on the other
