Two-Story Office Building
For Sale
$369,900
6748 Allen Road, Allen Park, MI 48101
Two-story office building with large first-floor offices, a flex room, and multiple lavatories.
Property Size3,560 SF
Price / SF$102.75
Days on Market39
Property Features for 6748 Allen Road
General Information
Standard status
Active
Size
3,560 SF
Property subtype
Commercial
Zoning
Commercial
Taxes and HOA fees
Annual Taxes
$4,964
Building Details
Building Size
3,560 SF
Year Built
1954
Stories
2
Listing Agency:
Real Estate Unlimited, Inc
(313) 383-4400
Listed By:
Jeffrey A Daniel · License #6501158034
Source:
Irishhillsfivestarhomes
Added: Jul 16
Changed: Aug 23
Last Checked: Aug 22 at 10:02AM
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 Real Estate Unlimited, Inc
Investment Insights
Based on property information with market context.
Professionally suited for office use, this two-story building offers several large offices on the first floor along with a lobby with seating. The property also includes a new ADA-compliant lavatory, a large open flex room on the second floor with approximately 1,200 square feet, a small kitchenette, an additional lavatory, and storage rooms. A couple of possible second-floor offices are currently occupied by the owners.
The building is described as highly visible within the downtown Allen Park business district, with an entrance off Allen Road as well as a rear entrance. It also features lots of parking and municipal free parking for clients, according to the remarks.
The layout supports a mix of private office space and flexible second-floor work areas, with multiple lavatory facilities on both levels.
The building is described as highly visible within the downtown Allen Park business district, with an entrance off Allen Road as well as a rear entrance. It also features lots of parking and municipal free parking for clients, according to the remarks.
The layout supports a mix of private office space and flexible second-floor work areas, with multiple lavatory facilities on both levels.
Key Highlights
- 2‑story office building (Year Built 1954) with nearly 3,600 SF of office space
- First floor includes several large offices plus a lobby with seating and a new ADA lavatory
- Second floor features a wide‑open flex room of approx. 1,200 SF with a kitchenette, an additional lavatory, and storage rooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$12,393
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.35%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$247,860
$247.9K
Cap Rate 7%
$177,043
$177.0K
Cap Rate 9%
$137,700
$137.7K
Market Conditions
NOI Build-Up for 3,600 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$21.6K $6.00/SF
− Vacancy
−$5.1K −$1.41/SF
EGI
$16.5K $4.59/SF
− OpEx
−$4.1K −$1.15/SF
NOI
$12.4K $3.44/SF
Area
Wayne County, MI
Vacancy
23.50%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$247,860
Cap Rate 7%
$177,043
Cap Rate 9%
$137,700
Alternative Uses
Best Use
Office B
$177.0K
$154.9K – $206.6K
NOI $12,393 @ 7.0% cap · market cap 3.35%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$666.5K
$583.2K – $777.6K
NOI $46,656 @ 7.0% cap · market cap 12.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
959
Businesses Nearby
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Two-story office building with large first-floor offices, a flex room, and multiple lavatories.
Where is this office building located?
The property is located at 6748 Allen Road Allen Park, MI.
What is the asking price?
The asking price for this property is $369,900.
What are key features of this property?
This property features: 2‑story office building (Year Built 1954) with nearly 3,600 SF of office space; First floor includes several large offices plus a lobby with seating and a new ADA lavatory; Second floor features a wide‑open flex room of approx. 1,200 SF with a kitchenette, an additional lavatory, and storage rooms
