Four-Unit Multifamily Property with
For Sale
Under Contract
$549,995
440 Robbe Avenue, Belleville, MI 48111
MULTI_FAMILY - Other - Belleville, MI
Property Size3,840 SF
Lot Size0.54 Acres
Price / SF$143.23
Days on Market52
Property Features for 440 Robbe Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multi-Family
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bedroom 4, Bedroom 5, Bedroom 7, Bathroom 1, Bathroom 4, Bedroom 8, Bathroom 3, Bedroom 6, Bathroom 2, Bedroom 2, Bedroom 1
Pets allowed
Yes
Interior features
Laundry Facility
Subdivision
Assrs Belleville 2
Elementary school district
Van Buren
Middle school district
Van Buren
High school district
Van Buren
Directions
South On Angola From Huron River Drive. Left On Robbe Ave. To Address.
Standard status
Active Under Contract
APN
31106010014015
Size
3,840 SF
Lot size
0.54 Acres
Taxes and HOA fees
Tax Description
27A14B1B1A3 PART OF LOT 14 BEG S3DEG 31M 20S E 17.01FT AND S88DEG 41M 30S W 195.03FT FROM NE COR LOT 14 TH S88DEG 41M 30S W 84.37FT TH S1DEG 18M 30S E 307.48FT TH N72DEG 36M 20S E 87.80FT TH N1DEG 18M 30S W 283.15FT POB ASSESSORS BELLEVILLE PLAT NO. 2 T3S R8E L67 P65 WCR
Tax Annual Amount
10454
Legal Description
27A14B1B1A3 PART OF LOT 14 BEG S3DEG 31M 20S E 17.01FT AND S88DEG 41M 30S W 195.03FT FROM NE COR LOT 14 TH S88DEG 41M 30S W 84.37FT TH S1DEG 18M 30S E 307.48FT TH N72DEG 36M 20S E 87.80FT TH N1DEG 18M 30S W 283.15FT POB ASSESSORS BELLEVILLE PLAT NO. 2 T3S R8E L67 P65 WCR
Utilities
Heating system
Forced Air
Cooling system
Separate Meters, Central Air
Water source
Public
Building Details
Year built
2007
Floors in Building
1
Number of units
4
Building materials
Vinyl
Architectural style
Other
Listing Agency:
EXP Realty Main
(888) 501-7085
Listed By:
Sayeduzzaman Khan
(888) 501-7085
Added: Jun 19
Changed: Aug 2
Last Checked: Aug 9 at 2:06AM
MLS# 20261046385
Copyright © 2026 Realcomp Limited II. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 2007, this well-maintained four-unit multifamily property is designed with similar layouts and finishes across all units. Each unit offers an open-concept floor plan with 9' ceilings, a spacious living and dining area, and a kitchen with custom Brazilian hardwood cabinets and flooring, with all kitchen appliances included. Units include two bedrooms, one full bath, a separate laundry room, and vinyl construction. The property also features private patios and an attached garage with storage cabinets.
Heating is forced air, with central air and separate meters in place. Tenants are responsible for all utilities, including water and trash. One unit is currently vacant and available to view.
With public water service and consistent unit features throughout, the property provides a straightforward four-unit rental setup for buyers seeking a uniform tenant experience.
Heating is forced air, with central air and separate meters in place. Tenants are responsible for all utilities, including water and trash. One unit is currently vacant and available to view.
With public water service and consistent unit features throughout, the property provides a straightforward four-unit rental setup for buyers seeking a uniform tenant experience.
Key Highlights
- Built in 2007 four‑unit multifamily property with vinyl construction
- Open‑concept units with 9' ceilings, two bedrooms, and separate laundry rooms
- Kitchen with custom Brazilian hardwood cabinets and flooring; appliances included
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
$37,699
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
6.85%
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%
$753,980
$754.0K
Cap Rate 7%
$538,557
$538.6K
Cap Rate 9%
$418,878
$418.9K
Market Conditions
NOI Build-Up for 3,840 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
$57.6K $15.00/SF
− Vacancy
−$3.7K −$0.98/SF
EGI
$53.9K $14.03/SF
− OpEx
−$16.2K −$4.21/SF
NOI
$37.7K $9.82/SF
Area
Wayne County, MI
Vacancy
6.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$753,980
Cap Rate 7%
$538,557
Cap Rate 9%
$418,878
Alternative Uses
Best Use
Multifamily LT 5
$538.6K
$471.2K – $628.3K
NOI $37,699 @ 7.0% cap · market cap 6.85%
Second Best
Apartment 5plus
$494.5K
$432.7K – $577.0K
NOI $34,617 @ 7.0% cap · market cap 6.29%
Theoretical Best
Specialty Retail
$710.9K
$622.1K – $829.4K
NOI $49,766 @ 7.0% cap · market cap 9.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
322
Businesses Nearby
Explore this area
Business Placement
Demographics for 48111, MI
44,055
Population
19,406
Households
2.3
Avg Household Size
40
Median Age
27%
College-Educated
92%
High-School Grad
66.9 sq mi
ZIP Area
659
Density / Sq Mi
$74,125
Median Household Income
$42,194
Median Earnings
$1,162
Median Rent
$239,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained four-unit building built in 2007 with open layouts, 9-foot ceilings, and tenants responsible for utilities.
Where is this quadplex located?
The property is located at 440 Robbe Avenue Belleville, MI.
What is the asking price?
The asking price for this property is $549,995.
What are key features of this property?
This property features: Built in 2007 four‑unit multifamily property with vinyl construction; Open‑concept units with 9' ceilings, two bedrooms, and separate laundry rooms; Kitchen with custom Brazilian hardwood cabinets and flooring; appliances included
