Storefront Building with System
New
For Sale
$795,000
6430-6432 Woodward Avenue, Detroit, MI 48202
Woodward Avenue property with upgraded electrical service and parking lot access from East Milwaukee Avenue.
Property Size5,574 SF
Price / SF$142.63
Days on Market5
Property Features for 6430-6432 Woodward Avenue
General Information
Standard status
Active
Size
5,574 SF
Property subtype
Retail
Site & Location
Road Access
Yes
Utilities to Site
Yes
Building Details
Building Size
5,574 SF
Buildings
1
Construction
brick
Listing Agency:
NAI Farbman Southfield
Listed By:
Brandon Ben-Ezra · License #6505136668
(248) 732-9220
Source:
Naiglobal
Added: Oct 2
Changed: Oct 3
Last Checked: Oct 5 at 5:10PM
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 NAI Farbman Southfield
Investment Insights
Based on property information with market context.
This 5,574-square-foot storefront property on Woodward Avenue has received substantial building-system and structural work. Improvements include 800-amp electrical service with a new DTE pole, replacement of the sewer line, and roof replacement on the second and third floors. The structural support system has also been updated. Natural brick is exposed, the site has been cleared of debris, and footings are in place for a second staircase.
Parking lot access is available from 28 E Milwaukee Avenue, with an alley easement also serving the property. A 10-year incremental tax abatement is in place and is transferable to a new owner. HVAC cut-ins are complete, and the basement has been excavated with new poured walls for future rooftop use.
Parking lot access is available from 28 E Milwaukee Avenue, with an alley easement also serving the property. A 10-year incremental tax abatement is in place and is transferable to a new owner. HVAC cut-ins are complete, and the basement has been excavated with new poured walls for future rooftop use.
Key Highlights
- 5,574‑square‑foot storefront property on Woodward Avenue
- 10‑year incremental tax abatement transfers to a new owner
- 800‑amp service installed with a new DTE pole
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$68,655
Cap Rate
8.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,373,100
$1.4M
Cap Rate 7%
$980,786
$980.8K
Cap Rate 9%
$762,833
$762.8K
Market Conditions
NOI Build-Up for 5,574 SF
Gross rent
$103.7K $18.60/SF
− Vacancy
−$5.6K −$1.00/SF
EGI
$98.1K $17.60/SF
− OpEx
−$29.4K −$5.28/SF
NOI
$68.7K $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 Rate 5%
$1,373,100
Cap Rate 7%
$980,786
Cap Rate 9%
$762,833
Alternative Uses
Best Use
Retail
$980.8K
$858.2K – $1.14M
NOI $68,655 @ 7.0% cap · market cap 8.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.23M
$1.08M – $1.43M
NOI $86,075 @ 7.0% cap · market cap 10.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,750
Businesses Nearby
74k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 62%
Shops & Services 38%
McDonald's
Dining
27,503 visits/mo
0.4 miles
White Castle
Dining
14,009 visits/mo
0.2 miles
BP
Shops & Services
12,413 visits/mo
0.4 miles
Citizens Bank
Shops & Services
5,642 visits/mo
0.1 miles
Sunoco
Shops & Services
5,159 visits/mo
0.5 miles
Demographics for 48202, MI
17,260
Population
10,078
Households
1.7
Avg Household Size
32
Median Age
38%
College-Educated
91%
High-School Grad
3.4 sq mi
ZIP Area
5,076
Density / Sq Mi
$36,536
Median Household Income
$31,725
Median Earnings
$894
Median Rent
$193,700
Median Home Value
Market
Vacancy Rate% for Retail in Detroit, MI
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Frequently Asked Questions
What type of property is this?
Storefront property - Woodward Avenue property with upgraded electrical service and parking lot access from East Milwaukee Avenue.
Where is this storefront property located?
The property is located at 6430-6432 Woodward Avenue Detroit, MI.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: 5,574‑square‑foot storefront property on Woodward Avenue; 10‑year incremental tax abatement transfers to a new owner; 800‑amp service installed with a new DTE pole
