Mixed-Use Property with
New
For Sale
$1,250,000
31851 & 31825 Mound Rd, Warren, MI 48092
Commercial storefronts, apartments, and separate office suites offer several distinct space configurations.
Property Size9,821 SF
Days on Market2
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Property Features for 31851 & 31825 Mound Rd
General Information
Standard status
Active
Size
9,821 SF
Class
B
Property subtype
Retail - Street Retail
Zoning
C-1
Units
Unit Mix
2 x 1BR, 2 x 2BR
Multifamily Units
4
Building Details
Building Size
9,821 SF
Year Built
1929
Year Renovated
1956
Buildings
2
Units
8
Tenancy
Multi
Listing Agency:
P.A. Commercial
Listed By:
Dan Blugerman
(248) 987-5418
Source:
Commercialcafe
Added: Oct 14
Changed: Oct 15
Last Checked: Oct 15 at 2:03AM
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 P.A. Commercial
Investment Insights
Based on property information with market context.
Two Warren properties combine ground-floor commercial space, apartments, and a separate office building. At 31825 Mound Road, two commercial spaces sit below four apartments: two one-bedroom units and two two-bedroom units. One storefront is occupied by a hair and nail salon; the other was formerly a bakery. Two apartments are occupied month to month, while the other two are available for renovation and leasing. The building dates to 1929.
At 31851 Mound Road, a single-story office building contains two suites. The approximately 1,520-square-foot southern suite is occupied by a counseling practice on a month-to-month basis; the 930-square-foot suite is vacant. The properties are in the Warren Village Historic District, along Mound Road near Chicago Road, and carry C-1 Commercial zoning.
At 31851 Mound Road, a single-story office building contains two suites. The approximately 1,520-square-foot southern suite is occupied by a counseling practice on a month-to-month basis; the 930-square-foot suite is vacant. The properties are in the Warren Village Historic District, along Mound Road near Chicago Road, and carry C-1 Commercial zoning.
Key Highlights
- C‑1 Commercial zoning in the Warren Village Historic District
- 31825 Mound Road has two commercial spaces and four apartments: two one‑bedroom and two two‑bedroom units
- One storefront houses an operating hair and nail salon; the other was formerly a bakery
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$101,647
Cap Rate
8.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,032,940
$2.0M
Cap Rate 7%
$1,452,100
$1.5M
Cap Rate 9%
$1,129,411
$1.1M
Market Conditions
NOI Build-Up for 9,821 SF
Gross rent
$176.8K $18.00/SF
− Vacancy
−$14.1K −$1.44/SF
EGI
$162.6K $16.56/SF
− OpEx
−$61.0K −$6.21/SF
NOI
$101.6K $10.35/SF
Area
Warren, MI
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,032,940
Cap Rate 7%
$1,452,100
Cap Rate 9%
$1,129,411
Alternative Uses
Best Use
Retail
$1.73M
$1.51M – $2.02M
NOI $120,964 @ 7.0% cap · market cap 9.68%
Second Best
Mixed Use
$1.45M
$1.27M – $1.69M
NOI $101,647 @ 7.0% cap · market cap 8.13%
Theoretical Best
Office A
$2.17M
$1.90M – $2.53M
NOI $151,659 @ 7.0% cap · market cap 12.13%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
343
Businesses Nearby
Explore this area
Business Placement
Demographics for 48092, MI
27,186
Population
11,052
Households
2.5
Avg Household Size
42
Median Age
27%
College-Educated
86%
High-School Grad
8.1 sq mi
ZIP Area
3,356
Density / Sq Mi
$71,761
Median Household Income
$40,174
Median Earnings
$1,186
Median Rent
$205,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial storefronts, apartments, and separate office suites offer several distinct space configurations.
Where is this mixed-use property located?
The property is located at 31851 & 31825 Mound Rd Warren, MI.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: C‑1 Commercial zoning in the Warren Village Historic District; 31825 Mound Road has two commercial spaces and four apartments: two one‑bedroom and two two‑bedroom units; One storefront houses an operating hair and nail salon; the other was formerly a bakery
