Building Details

Year Built 1890

Buildings 1

Stories 2

Tenancy Single

Listing Agency: Signature Associates

Listed By: ANATOLA SESI · License #6501444197 Show Phone

Source: Crexi

Added: May 23, 2025 Changed: Sep 29 Last Checked: Oct 5 at 6:35PM

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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 Signature Associates

Investment Insights

Based on property information with market context.

This mixed-use property, located in Franklin, Michigan, is available for sale. The building provides 3,866 square feet of space suitable for a combination of retail and office uses. The property is located at 32440 Franklin Rd.

Key Highlights

• No property information was provided to extract selling points.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$47,617

Cap Rate

3.41%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$952,340 $952.3K

Cap Rate 7%

$680,243 $680.2K

Cap Rate 9%

$529,078 $529.1K

Market Conditions

NOI Build-Up for 3,866 SF

Gross rent

$71.9K $18.60/SF

− Vacancy

−$3.9K −$1.00/SF

EGI

$68.0K $17.60/SF

− OpEx

−$20.4K −$5.28/SF

NOI

$47.6K $12.32/SF

Area

Detroit, MI

Vacancy

5.40%

Lease Rate

$18.60 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$952,340

Cap Rate 7%

$680,243

Cap Rate 9%

$529,078

Alternative Uses

Best Use

Retail

$680.2K

$595.2K – $793.6K (±1% cap)

NOI $47,617 @ 7.0% cap · market cap 3.41%

Second Best

Mixed Use

$656.1K

$574.1K – $765.5K (±1% cap)

NOI $45,928 @ 7.0% cap · market cap 3.29%

Theoretical Best

Office A

$852.9K

$746.3K – $995.0K (±1% cap)

NOI $59,700 @ 7.0% cap · market cap 4.28%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Mixed-use properties

Suggested Use

Top Pick Restaurant Real Estate Agency Hair Salon Nail Salon Spa & Massage Center Pharmacy

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

101

Businesses Nearby

Explore this area Business Placement

Demographics for 48025, MI

14,878

Population

5,866

Households

2.5

Avg Household Size

45

Median Age

75%

College-Educated

98%

High-School Grad

8.0 sq mi

ZIP Area

1,860

Density / Sq Mi

$177,126

Median Household Income

$97,095

Median Earnings

$2,397

Median Rent

$514,500

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Mixed-use property in Franklin, Michigan, totaling 3,866 square feet.

Where is this mixed-use property located?

The property is located at 32440 Franklin Road Franklin, MI.

What is the asking price?

The asking price for this property is $1,395,000.

What are key features of this property?

This property features: No property information was provided to extract selling points.