Meat Market and Convenience
For Sale
$749,900
5223 Allen Rd, Allen Park, MI 48101
Commercial property combines a fully equipped retail operation with an upper-level residential unit.
Property Size5,640 SF
Price / SF$132.96
Days on Market48
Property Features for 5223 Allen Rd
General Information
Standard status
Active
Size
5,640 SF
Additional Details
Business Included
Yes
Building Details
Year Built
1953
Listing Agency:
Keller Williams Legacy
Listed By:
Kamal Kabbani
(313) 826-9958
Source:
Katie-k
Added: Aug 21
Changed: Oct 2
Last Checked: Oct 7 at 3:37PM
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 Keller Williams Legacy
Investment Insights
Based on property information with market context.
This commercial property combines a meat market and convenience store with the underlying real estate. The sale includes the business, applicable fixtures, and equipment supporting the existing operation. Retail space is paired with an upper-level residential unit, creating a combined commercial and residential configuration.
The property is located at 5223 Allen Rd in Allen Park, with frontage along Allen Road and access to the surrounding residential community and major roadways. The site has a walk score of 77 and a bike score of 49. Built in 1953, the property may suit an operator seeking a business and real estate acquisition in one transaction.
The property is located at 5223 Allen Rd in Allen Park, with frontage along Allen Road and access to the surrounding residential community and major roadways. The site has a walk score of 77 and a bike score of 49. Built in 1953, the property may suit an operator seeking a business and real estate acquisition in one transaction.
Key Highlights
- Meat market and convenience store business sold with the real estate
- Fully equipped meat market with retail and convenience store space
- Sale includes applicable fixtures and equipment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$67,003
Cap Rate
8.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,340,060
$1.3M
Cap Rate 7%
$957,186
$957.2K
Cap Rate 9%
$744,478
$744.5K
Market Conditions
NOI Build-Up for 5,640 SF
Gross rent
$121.8K $21.60/SF
− Vacancy
−$14.6K −$2.59/SF
EGI
$107.2K $19.01/SF
− OpEx
−$40.2K −$7.13/SF
NOI
$67.0K $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 Rate 5%
$1,340,060
Cap Rate 7%
$957,186
Cap Rate 9%
$744,478
Alternative Uses
Best Use
Specialty Retail
$1.04M
$913.7K – $1.22M
NOI $73,094 @ 7.0% cap · market cap 9.75%
Second Best
Mixed Use
$957.2K
$837.5K – $1.12M
NOI $67,003 @ 7.0% cap · market cap 8.93%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
608
Businesses Nearby
Under-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Commercial property combines a fully equipped retail operation with an upper-level residential unit.
Where is this grocery and convenience store located?
The property is located at 5223 Allen Rd Allen Park, MI.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: Meat market and convenience store business sold with the real estate; Fully equipped meat market with retail and convenience store space; Sale includes applicable fixtures and equipment
