Modern Office
New
For Sale
$225,000
440 Selden St, Detroit, MI 48201
Owner-user workspace with an open layout, private office, kitchenette, restroom, and strong natural light.
Property Size1,050 SF
Price / SF$214.29
Days on Market5
Property Features for 440 Selden St
General Information
Standard status
Active
Size
1,050 SF
Property subtype
Commercial
Building Details
Year Built
2017
Listing Agency:
O'Connor Realty Detroit, LLC
Listed By:
Vincent Mazzola · License #6501387170
(313) 704-2678
Source:
Vmrealestatemichigan
Added: Aug 31
Changed: Sep 4
Last Checked: Sep 4 at 7:30AM
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 O'Connor Realty Detroit, LLC
Investment Insights
Based on property information with market context.
This office condominium at 440 Selden St provides 1,050 square feet of contemporary workspace in a building completed in 2017. The interior combines an open work area with a private office, kitchenette, restroom, and large windows that bring in substantial daylight. The efficient arrangement supports a professional office or creative business setting without requiring extensive build-out.
The property is in Midtown Detroit, just west of Cass Avenue, with restaurants, shops, cultural institutions, and major employers within walking distance. Its position also offers access to Downtown, New Center, and the broader Detroit area, giving an owner-user a central base within an established urban district.
The property is in Midtown Detroit, just west of Cass Avenue, with restaurants, shops, cultural institutions, and major employers within walking distance. Its position also offers access to Downtown, New Center, and the broader Detroit area, giving an owner-user a central base within an established urban district.
Key Highlights
- 1,050‑square‑foot office condominium at 440 Selden St
- Building completed in 2017
- Open work area paired with a private office
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
$10,637
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
4.73%
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%
$212,740
$212.7K
Cap Rate 7%
$151,957
$152.0K
Cap Rate 9%
$118,189
$118.2K
Market Conditions
NOI Build-Up for 1,050 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
$18.4K $17.52/SF
− Vacancy
−$4.2K −$4.01/SF
EGI
$14.2K $13.51/SF
− OpEx
−$3.5K −$3.38/SF
NOI
$10.6K $10.13/SF
Area
Detroit, MI
Vacancy
22.90%
Lease Rate
$17.52 /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%
$212,740
Cap Rate 7%
$151,957
Cap Rate 9%
$118,189
Alternative Uses
Best Use
Office B
$152.0K
$133.0K – $177.3K
NOI $10,637 @ 7.0% cap · market cap 4.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$231.6K
$202.7K – $270.2K
NOI $16,214 @ 7.0% cap · market cap 7.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,532
Businesses Nearby
Explore this area
Business Placement
Demographics for 48201, MI
14,500
Population
9,900
Households
1.5
Avg Household Size
33
Median Age
37%
College-Educated
88%
High-School Grad
1.9 sq mi
ZIP Area
7,632
Density / Sq Mi
$24,392
Median Household Income
$36,835
Median Earnings
$841
Median Rent
$401,500
Median Home Value
Market
Vacancy Rate% for Office in Detroit, MI
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Owner-user workspace with an open layout, private office, kitchenette, restroom, and strong natural light.
Where is this office units located?
The property is located at 440 Selden St Detroit, MI.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 1,050‑square‑foot office condominium at 440 Selden St; Building completed in 2017; Open work area paired with a private office
