Open-Plan Storefront
6513 Woodward Ave, Detroit, MI 48202
For Sale
$425,000
Pending
Flexible commercial space with expansive glazing and direct Woodward Avenue frontage.
Property Size2,010 SF
Days on Market50
Property Features for 6513 Woodward Ave
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
O'Connor Real Estate
Listed By:
Vincent Mazzola · License MI #6501387170
(313) 963-9891
Source:
Elliman
Added: Sep 22
Changed: Oct 28
Last Checked: Nov 8 at 7:15AM
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 O'Connor Real Estate
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Investment Insights
Based on property information with market context.
This 2,010-square-foot storefront property provides an open, column-free interior suited to retail, showroom, service, office, or creative uses. The space includes large storefront windows and up to 12-foot clear height, creating a flexible configuration for a range of commercial layouts. Built in 1942, the property fronts Woodward Avenue in Detroit’s New Center neighborhood.
The location scores 83 for walkability, 74 for bike access, and 53 for transit access. Its Woodward Avenue frontage and prominent storefront presentation support customer-facing uses that benefit from visibility along an established Detroit corridor.
The location scores 83 for walkability, 74 for bike access, and 53 for transit access. Its Woodward Avenue frontage and prominent storefront presentation support customer-facing uses that benefit from visibility along an established Detroit corridor.
Key Highlights
- 2,010 SF storefront space along Woodward Avenue
- Column‑free interior with an open configuration
- Up to 12‑foot clear height
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,757
Cap Rate
5.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$495,140
$495.1K
Cap Rate 7%
$353,671
$353.7K
Cap Rate 9%
$275,078
$275.1K
Market Conditions
NOI Build-Up for 2,010 SF
Gross rent
$37.4K $18.60/SF
− Vacancy
−$2.0K −$1.00/SF
EGI
$35.4K $17.60/SF
− OpEx
−$10.6K −$5.28/SF
NOI
$24.8K $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%
$495,140
Cap Rate 7%
$353,671
Cap Rate 9%
$275,078
Alternative Uses
Best Use
Retail
$353.7K
$309.5K – $412.6K
NOI $24,757 @ 7.0% cap · market cap 5.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$443.4K
$388.0K – $517.3K
NOI $31,039 @ 7.0% cap · market cap 7.30%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
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
$193,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Storefront properties in Detroit, MI
Properties on Market for Storefront properties in Detroit
Vacancy Rate% for Retail in Detroit, MI
Similar Off Market Nearby
- Brazelton's Floral — 2686 W Grand Blvd, Detroit, MI 48208
- Flowers Deborah S — 2799 W Grand Blvd # K9, Detroit, MI 48202, United States
- LaShee Floral & Events — 3031 E Grand Blvd, Detroit, MI 48202, United States
- Eloquent Petals & Blumz Florist — 2868 E Grand Blvd, Detroit, MI 48202
- Michael B. Anthony — 1600 Clay St #142, Detroit, MI 48211
Frequently Asked Questions
What type of property is this?
Storefront property - Flexible commercial space with expansive glazing and direct Woodward Avenue frontage.
Where is this storefront property located?
The property is located at 6513 Woodward Ave Detroit, MI.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 2,010 SF storefront space along Woodward Avenue; Column‑free interior with an open configuration; Up to 12‑foot clear height
