All-Brick Mixed-Use Retail and
For Sale
Contact for pricing
5101 Trumbull Street, Detroit, MI 48208
All-brick mixed-use building with first-floor retail, a mezzanine level, and apartments above across from Wayne State University.
Property Size5,886 SF
Price / SF$135.92
Days on Market416
Property Features for 5101 Trumbull Street
General Information
Standard status
Active
Size
5,886 SF
Property subtype
Mixed Use, Multifamily, Retail
Additional Details
Multifamily Units
3
Building Details
Year Built
1912
Stories
3
Listing Agency:
RE/MAX Classic
Listed By:
Dan Mullan · License #MI 6502361339
Source:
Crexi
Added: Jun 18, 2025
Changed: Jul 10
Last Checked: Aug 6 at 11:04AM
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 RE/MAX Classic
Investment Insights
Based on property information with market context.
This all-brick mixed-use property features two first-floor retail spaces, with a second-floor open-area mezzanine. The interiors include wooden built-ins and both retail units are described as nearly identical, with one unit slightly larger and containing a kitchen and dining room. The third floor provides three apartments: one 1-bedroom unit, one 2-bedroom unit, and one 3-bedroom unit. The building is reported to be in very good condition, with mostly new mechanicals.
The property is located directly across from Wayne State University. In addition to the existing lot, the sale includes an adjacent lot on Putnam.
The layout supports multiple occupancy models, including leasing the two retail spaces and the three apartments, or retaining one side of the building for an owner-operator business while renting the remaining retail unit and the apartment units. The presence of both retail and residential components can appeal to tenants and operators seeking space in a single, diversified asset with distinct commercial and residential areas.
The property is located directly across from Wayne State University. In addition to the existing lot, the sale includes an adjacent lot on Putnam.
The layout supports multiple occupancy models, including leasing the two retail spaces and the three apartments, or retaining one side of the building for an owner-operator business while renting the remaining retail unit and the apartment units. The presence of both retail and residential components can appeal to tenants and operators seeking space in a single, diversified asset with distinct commercial and residential areas.
Key Highlights
- All‑brick mixed‑use building built in 1912
- First‑floor includes two retail spaces plus a second‑floor open area mezzanine
- 3rd floor has 3 apartments: one 1‑bedroom, one 2‑bedroom, and one 3‑bedroom unit
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
$72,497
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
9.06%
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%
$1,449,940
$1.4M
Cap Rate 7%
$1,035,671
$1.0M
Cap Rate 9%
$805,522
$805.5K
Market Conditions
NOI Build-Up for 5,886 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
$109.5K $18.60/SF
− Vacancy
−$5.9K −$1.00/SF
EGI
$103.6K $17.60/SF
− OpEx
−$31.1K −$5.28/SF
NOI
$72.5K $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 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%
$1,449,940
Cap Rate 7%
$1,035,671
Cap Rate 9%
$805,522
Alternative Uses
Best Use
Retail
$1.04M
$906.2K – $1.21M
NOI $72,497 @ 7.0% cap · market cap 9.06%
Second Best
Multifamily LT 5
$961.0K
$840.9K – $1.12M
NOI $67,268 @ 7.0% cap · market cap 8.41%
Theoretical Best
Office A
$1.30M
$1.14M – $1.51M
NOI $90,893 @ 7.0% cap · market cap 11.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
637
Businesses Nearby
Explore this area
Business Placement
Demographics for 48208, MI
8,090
Population
5,226
Households
1.5
Avg Household Size
37
Median Age
27%
College-Educated
79%
High-School Grad
3.2 sq mi
ZIP Area
2,528
Density / Sq Mi
$29,742
Median Household Income
$39,526
Median Earnings
$842
Median Rent
$186,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - All-brick mixed-use building with first-floor retail, a mezzanine level, and apartments above across from Wayne State University.
Where is this triplex located?
The property is located at 5101 Trumbull Street Detroit, MI.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: All‑brick mixed‑use building built in 1912; First‑floor includes two retail spaces plus a second‑floor open area mezzanine; 3rd floor has 3 apartments: one 1‑bedroom, one 2‑bedroom, and one 3‑bedroom unit
