Mixed-Use Income
7149 W Vernor Hwy Detroit, MI 48209
For Sale
$799,000
Freshly painted mixed-use property with three apartments and three commercial units on a high-traffic corner.
Property Size6,600 SF
Price / SF$121.06
Days on Market120
Property Features for 7149 W Vernor Hwy
General Information
- Standard status
- Active
- Size
- 6,600 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1922
Listing Agency:
Century 21 Curran & Oberski
(313) 333-7971
Listed By:
Regina M Sanchez · License #6501374416
(313) 333-7971
Source:
Elliman
Added: Mar 27
Changed: Jul 23
Last Checked: Jul 23 at 6:35PM
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 Century 21 Curran & Oberski
Investment Insights
Based on property information with market context.
This mixed-use income property offers three connected commercial units with three residential apartments on the second floor. The second-floor units are described as three-bedroom layouts with large living rooms, separate formal dining areas, kitchens, and bathrooms. The property is noted as freshly painted and requiring only light TLC, with separate utilities for each apartment.
Located on W. Vernor Hwy at a high-traffic corner, the building is presented as having constant foot traffic. The property is within minutes of Downtown Detroit, The Gordie Howe and Ambassador Bridge, shopping, entertainment, major freeways, and The New Michigan Central Station. The remarks also cite nearby grocery, retail, restaurants, parks, clinics, bus service, laundromat, banks, and entertainment, along with ongoing development in the area.
The rear of the property includes a concrete parking lot for 7+ vehicles, enclosed with an 8-foot steel security fence and security lighting. Central air and security shade for front street exposure to floor windows are also mentioned in the remarks.
Located on W. Vernor Hwy at a high-traffic corner, the building is presented as having constant foot traffic. The property is within minutes of Downtown Detroit, The Gordie Howe and Ambassador Bridge, shopping, entertainment, major freeways, and The New Michigan Central Station. The remarks also cite nearby grocery, retail, restaurants, parks, clinics, bus service, laundromat, banks, and entertainment, along with ongoing development in the area.
The rear of the property includes a concrete parking lot for 7+ vehicles, enclosed with an 8-foot steel security fence and security lighting. Central air and security shade for front street exposure to floor windows are also mentioned in the remarks.
Key Highlights
- Freshly painted mixed‑use building with 6,600 SF total, built in 1922
- W. Vernor highway frontage on a high‑traffic corner with constant foot traffic
- Three connected commercial units plus three apartments on the second floor
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $134.6k | $20.40 |
| − Vacancy | −$8.8k | −$1.33 |
| EGI | $125.9k | $19.07 |
| − OpEx | −$56.6k | −$8.58 |
| NOI | $69.2k | $10.49 |
6,600 SF · lease $20.40/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Retail
$1.16M
$1.02M – $1.35M
NOI $81,292 @ 7.0% cap · market cap 10.17%
Second Best
Multifamily LT 5
$1.08M
$942.9K – $1.26M
NOI $75,428 @ 7.0% cap · market cap 9.44%
Theoretical Best
Office A
$1.46M
$1.27M – $1.70M
NOI $101,919 @ 7.0% cap · market cap 12.76%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Estetica Unisex Latina
Hair Salon
FAQs
What type of property is this?
Triplex - Freshly painted mixed-use property with three apartments and three commercial units on a high-traffic corner.
Where is this triplex located?
The property is located at 7149 W Vernor Hwy Detroit, MI.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Freshly painted mixed‑use building with 6,600 SF total, built in 1922; W. Vernor highway frontage on a high‑traffic corner with constant foot traffic; Three connected commercial units plus three apartments on the second floor
