Woodward Avenue Retail
For Sale
$425,000
6513 Woodward, Detroit, MI 48229
An open-plan storefront offers a flexible interior for retail, showroom, service, office, or creative uses.
Property Size2,010 SF
Price / SF$211.44
Days on Market40
Property Features for 6513 Woodward
General Information
Standard status
Active
Size
2,010 SF
Property subtype
Commercial/Industrial
Zoning
Commercial
Site & Location
Neighborhood
Gateway Community
Listed By:
J.A. BACHLER
(810) 765-8895
Source:
Jabachler
Added: Sep 20
Changed: Oct 27
Last Checked: Oct 27 at 4:08AM
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 J.A. BACHLER
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2,010 SF retail space has a column-free interior with an open layout and up to 12-foot clear height. Large storefront windows provide a street-facing presence, while the flexible configuration supports retail, showroom, service, office, or creative uses.
The property is located on Woodward Avenue in Detroit’s New Center neighborhood.
The property is located on Woodward Avenue in Detroit’s New Center neighborhood.
Key Highlights
- 2,010 SF of retail space on Woodward Avenue
- Column‑free, open layout
- 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
Current Use
Location Intelligence
Trade Area within ½ mile
385
Businesses Nearby
22k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 92%
Home Improvements & Furnishings 4%
Electronics 4%
Family Dollar
Shops & Services
5,259 visits/mo
0.2 miles
Sunoco
Shops & Services
3,840 visits/mo
0.2 miles
Sunoco
Shops & Services
3,779 visits/mo
0.4 miles
BP
Shops & Services
3,313 visits/mo
0.5 miles
Mobil
Shops & Services
2,949 visits/mo
0.5 miles
Demographics for 48229, MI
9,258
Population
4,156
Households
2.2
Avg Household Size
36
Median Age
9%
College-Educated
72%
High-School Grad
2.8 sq mi
ZIP Area
3,306
Density / Sq Mi
$45,148
Median Household Income
$33,815
Median Earnings
$879
Median Rent
$59,300
Median Home Value
Market
Vacancy Rate% for Retail in Detroit, MI
Frequently Asked Questions
What type of property is this?
Retail space - An open-plan storefront offers a flexible interior for retail, showroom, service, office, or creative uses.
Where is this retail space located?
The property is located at 6513 Woodward 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 of retail space on Woodward Avenue; Column‑free, open layout; Up to 12‑foot clear height
