Mixed-Use Corner
For Sale
$385,000
4601 Allen Road, Allen Park, MI 48101
Corner lot mixed-use building with retail/service space and residential living upstairs.
Property Size1,849 SF
Days on Market34
Property Features for 4601 Allen Road
General Information
Standard status
Active
Size
1,849 SF
Property subtype
Commercial
Zoning
Commercial
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$1,953
Building Details
Building Size
1,849 SF
Year Built
1978
Listing Agency:
Real Estate One-Southgate
(734) 225-7855
Listed By:
Erica Hussey
Source:
Buyatthelake
Added: Jul 21
Changed: Aug 23
Last Checked: Aug 22 at 1:42PM
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 Real Estate One-Southgate
Investment Insights
Based on property information with market context.
This mixed-use corner building offers retail, service, salon, or office space with residential living upstairs. Features referenced in the listing include tankless hot water, a re-glazed roof completed in 2023, and updated finishes such as bamboo floors and a tiled ceiling. The property is described as move-in ready and includes a wooden archway, pilasters, and stucco walls.
The building is located on a busy Allen Road corridor in Allen Park, with corner lot positioning.
As presented, the layout supports a live-work arrangement with commercial space at street level and residential space above.
The building is located on a busy Allen Road corridor in Allen Park, with corner lot positioning.
As presented, the layout supports a live-work arrangement with commercial space at street level and residential space above.
Key Highlights
- Corner lot mixed‑use building on busy Allen Road in Allen Park
- Retail/service space on the main level with residential living upstairs
- Tankless hot water
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
$21,966
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
5.71%
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%
$439,320
$439.3K
Cap Rate 7%
$313,800
$313.8K
Cap Rate 9%
$244,067
$244.1K
Market Conditions
NOI Build-Up for 1,849 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
$39.9K $21.60/SF
− Vacancy
−$4.8K −$2.59/SF
EGI
$35.1K $19.01/SF
− OpEx
−$13.2K −$7.13/SF
NOI
$22.0K $11.88/SF
Area
Wayne County, MI
Vacancy
12.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$439,320
Cap Rate 7%
$313,800
Cap Rate 9%
$244,067
Alternative Uses
Best Use
Mixed Use
$313.8K
$274.6K – $366.1K
NOI $21,966 @ 7.0% cap · market cap 5.71%
Second Best
Retail
$250.3K
$219.0K – $292.0K
NOI $17,520 @ 7.0% cap · market cap 4.55%
Theoretical Best
Specialty Retail
$342.3K
$299.5K – $399.4K
NOI $23,963 @ 7.0% cap · market cap 6.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
280
Businesses Nearby
Explore this area
Business Placement
Demographics for 48101, MI
28,664
Population
12,413
Households
2.3
Avg Household Size
41
Median Age
30%
College-Educated
94%
High-School Grad
7.0 sq mi
ZIP Area
4,095
Density / Sq Mi
$80,045
Median Household Income
$51,658
Median Earnings
$1,181
Median Rent
$174,500
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - Corner lot mixed-use building with retail/service space and residential living upstairs.
Where is this live-work space located?
The property is located at 4601 Allen Road Allen Park, MI.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Corner lot mixed‑use building on busy Allen Road in Allen Park; Retail/service space on the main level with residential living upstairs; Tankless hot water
