28-Unit Apartment
For Sale
Contact for pricing
45437 Deshon St, Utica, MI 48317
Two-bedroom units feature granite countertops, stainless steel appliances, and private patios.
Property Size25,200 SF
Lot Size1.11 Acres
Price / SF$155.56
Days on Market55
Property Features for 45437 Deshon St
General Information
Standard status
Active
Size
25,200 SF
Class
C
Lot size
1.11 Acres
Property subtype
Multifamily
Zoning
COMM
Occupancy
93%
Investment Type
Value Add
Net Operating Income
$318,899
Additional Details
Highway Access
Yes
Multifamily Units
28
Amenities
granite countertops
stainless steel appliances
private patios
Building Details
Year Built
1971
Buildings
1
Units
28
Tenancy
Multi
Listing Agency:
The Jonna Group at Colliers International
Listed By:
Simon Jonna · License #MI 6501357188
(249) 540-1000
Source:
Crexi
Added: Aug 27
Changed: Oct 13
Last Checked: Oct 19 at 7:00AM
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 The Jonna Group at Colliers International
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Utica Manor is a 28-unit apartment property containing 25,200 square feet on 1.11 acres. Built in 1971, the community is configured with two-bedroom residences that include granite countertops, stainless steel appliances, and private patios. Current occupancy is 93%, with two vacant units and 13 month-to-month leases in place.
The property is located at 45437 Deshon St in Utica, Michigan, bordering Shelby Township and Sterling Heights. Direct access to the M-53 corridor connects the property with Rochester and Detroit. COMM zoning supports the existing apartment use, and the property is identified as ready for RUBS implementation to facilitate tenant utility billing.
The property is located at 45437 Deshon St in Utica, Michigan, bordering Shelby Township and Sterling Heights. Direct access to the M-53 corridor connects the property with Rochester and Detroit. COMM zoning supports the existing apartment use, and the property is identified as ready for RUBS implementation to facilitate tenant utility billing.
Key Highlights
- 28‑unit apartment property totaling 25,200 square feet
- 93% occupied with 2 vacant units
- Two‑bedroom layouts with granite countertops and stainless steel appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$236,657
Cap Rate
6.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,733,140
$4.7M
Cap Rate 7%
$3,380,814
$3.4M
Cap Rate 9%
$2,629,522
$2.6M
Market Conditions
NOI Build-Up for 25,200 SF
Gross rent
$462.7K $18.36/SF
− Vacancy
−$32.4K −$1.29/SF
EGI
$430.3K $17.07/SF
− OpEx
−$193.6K −$7.68/SF
NOI
$236.7K $9.39/SF
Area
Macomb County, MI
Vacancy
7.00%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,733,140
Cap Rate 7%
$3,380,814
Cap Rate 9%
$2,629,522
Alternative Uses
Best Use
Apartment 5plus
$3.38M
$2.96M – $3.94M
NOI $236,657 @ 7.0% cap · market cap 6.04%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.72M
$4.13M – $5.50M
NOI $330,249 @ 7.0% cap · market cap 8.42%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Lease Details
28
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
894
Businesses Nearby
Explore this area
Business Placement
Demographics for 48317, MI
27,864
Population
12,936
Households
2.2
Avg Household Size
39
Median Age
32%
College-Educated
90%
High-School Grad
12.0 sq mi
ZIP Area
2,322
Density / Sq Mi
$72,465
Median Household Income
$41,895
Median Earnings
$1,227
Median Rent
$248,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Two-bedroom units feature granite countertops, stainless steel appliances, and private patios.
Where is this apartment building located?
The property is located at 45437 Deshon St Utica, MI.
What is the asking price?
The asking price for this property is $3,920,000.
What are key features of this property?
This property features: 28‑unit apartment property totaling 25,200 square feet; 93% occupied with 2 vacant units; Two‑bedroom layouts with granite countertops and stainless steel appliances
