Building Details

Building Size 3,414 SF

Year Built 1929

Listing Agency: RE/MAX Team 2000

Listed By: Yousef Beydoun · License #6501354088 Show Phone

Source: Elliman

Added: Nov 27, 2025 Changed: Oct 3 Last Checked: Oct 5 at 4:53PM

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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 Team 2000

Investment Insights

Based on property information with market context.

This Dearborn property presents a purchase opportunity with several updates, including a newer roof, parking lot, and interior improvements. It features 120 feet of frontage and ample on-site parking. The lot is secured and gated, with 2 car ports. The property offers multiple use possibilities, suitable for an end user or investor.

Key Highlights

• Rare Dearborn Purchase Opportunity
• 120 feet of Frontage with ample onsite parking
• Newer roof and interior improvements

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$42,050

Cap Rate

7.02%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$841,000 $841.0K

Cap Rate 7%

$600,714 $600.7K

Cap Rate 9%

$467,222 $467.2K

Market Conditions

NOI Build-Up for 3,414 SF

Gross rent

$63.5K $18.60/SF

− Vacancy

−$3.4K −$1.00/SF

EGI

$60.1K $17.60/SF

− OpEx

−$18.0K −$5.28/SF

NOI

$42.0K $12.32/SF

Area

Dearborn, 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 Rate 5%

$841,000

Cap Rate 7%

$600,714

Cap Rate 9%

$467,222

Alternative Uses

Best Use

Retail

$600.7K

$525.6K – $700.8K (±1% cap)

NOI $42,050 @ 7.0% cap · market cap 7.02%

Second Best

Industrial

$286.2K

$250.4K – $333.9K (±1% cap)

NOI $20,034 @ 7.0% cap · market cap 3.34%

Theoretical Best

Office A

$753.1K

$659.0K – $878.7K (±1% cap)

NOI $52,720 @ 7.0% cap · market cap 8.80%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Parking lots & garages

Suggested Use

Top Pick Plumbing Service Electrical Service Garden Center Pet Grooming Service Kitchen & Bath Showroom Tanning Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

892

Businesses Nearby

51k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Chase Bank Shops & Services

19,334 visits/mo 0.2 miles

Exxon Shops & Services

11,244 visits/mo 0.2 miles

Shell Shops & Services

8,472 visits/mo 0.4 miles

BP Shops & Services

5,850 visits/mo 0.5 miles

Chase Bank Shops & Services

4,091 visits/mo 0.1 miles

Demographics for 48126, MI

55,863

Population

16,919

Households

3.3

Avg Household Size

28

Median Age

24%

College-Educated

74%

High-School Grad

8.4 sq mi

ZIP Area

6,650

Density / Sq Mi

$42,353

Median Household Income

$27,724

Median Earnings

$1,222

Median Rent

$200,600

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this parking lots & garages located? What is the asking price? Find similar properties What are key features of this property?

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Similar Off Market Nearby

• Enterprise Rent-A-Car — 4950 Greenfield Rd, Dearborn, MI 48126
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Frequently Asked Questions

What type of property is this?

Parking lot & garage - Updated property with frontage and secured, gated parking lot.

Where is this parking lot & garage located?

The property is located at 5824 CHASE Rd Dearborn, MI.

What is the asking price?

The asking price for this property is $599,000.

What are key features of this property?

This property features: Rare Dearborn Purchase Opportunity; 120 feet of Frontage with ample onsite parking; Newer roof and interior improvements