Historic Mixed-Use
79 Alfred St, Detroit, MI 48201
For Sale
New
$1,999,000
A three-story office building and separate carriage house include a currently occupied two-bedroom apartment.
Property Size8,969 SF
Lot Size0.38 Acres
Price / SF$222.88
Days on Market2
Property Features for 79 Alfred St
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Zoning
Site & Location
Neighborhood
Public Transit
Additional Details
Tenant in Place
Property Use
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Listed By:
Nicholas Asplund · License MI #6501411088
(810) 222-9019
Source:
Elliman
Added: Nov 12
Last Checked: Nov 12 at 2:29PM
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 Nicholas Asplund
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Investment Insights
Based on property information with market context.
At 79 Alfred St in Detroit, this 1872 property combines an office building and carriage house on a 0.38-acre lot. The 8,969-square-foot property includes a three-story main structure with a basement and a detached, heated two-car garage. The main building’s rooms include a parlor, dining room, private office, kitchen, and sunroom, with nine additional rooms upstairs. The carriage house has a finished bar and full bath, a workshop below, and a two-bedroom apartment above that is currently occupied. The property is zoned PD (Planned Development), and alternative uses, including residential, require city approval. Exterior work is subject to Historic District Commission review; the property is listed on the National Register of Historic Places.
The Brush Park location is blocks from Little Caesars Arena, Comerica Park, and Hudson’s Detroit on Woodward. WalkScore is 57, BikeScore is 53, and TransitScore is 79.
The Brush Park location is blocks from Little Caesars Arena, Comerica Park, and Hudson’s Detroit on Woodward. WalkScore is 57, BikeScore is 53, and TransitScore is 79.
Key Highlights
- 8,969 square feet on a 0.38‑acre lot
- Three‑story main building with basement, plus a carriage house and heated 2‑car detached garage
- Carriage house includes an occupied 2‑bedroom apartment, finished bar, full bath, and lower‑level workshop
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$106,552
Cap Rate
5.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,131,040
$2.1M
Cap Rate 7%
$1,522,171
$1.5M
Cap Rate 9%
$1,183,911
$1.2M
Market Conditions
NOI Build-Up for 8,969 SF
Gross rent
$193.7K $21.60/SF
− Vacancy
−$23.2K −$2.59/SF
EGI
$170.5K $19.01/SF
− OpEx
−$63.9K −$7.13/SF
NOI
$106.6K $11.88/SF
Area
Detroit, MI
Vacancy
12.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,131,040
Cap Rate 7%
$1,522,171
Cap Rate 9%
$1,183,911
Alternative Uses
Best Use
Mixed Use
$1.52M
$1.33M – $1.78M
NOI $106,552 @ 7.0% cap · market cap 5.33%
Second Best
Office B
$1.30M
$1.14M – $1.51M
NOI $90,864 @ 7.0% cap · market cap 4.55%
Theoretical Best
Office A
$1.98M
$1.73M – $2.31M
NOI $138,502 @ 7.0% cap · market cap 6.93%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
3,057
Businesses Nearby
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Business Placement
Demographics for 48201, MI
14,500
Population
9,900
Households
1.5
Avg Household Size
33
Median Age
37%
College-Educated
88%
High-School Grad
1.9 sq mi
ZIP Area
7,632
Density / Sq Mi
$24,392
Median Household Income
$36,835
Median Earnings
$841
Median Rent
$401,500
Median Home Value
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Market
Average Price Trend$/SF for Mixed-use properties in Detroit, MI
Properties on Market for Mixed-use properties in Detroit
Vacancy Rate% for Office in Detroit, MI
Frequently Asked Questions
What type of property is this?
Mixed-use property - A three-story office building and separate carriage house include a currently occupied two-bedroom apartment.
Where is this mixed-use property located?
The property is located at 79 Alfred St Detroit, MI.
What is the asking price?
The asking price for this property is $1,999,000.
What are key features of this property?
This property features: 8,969 square feet on a 0.38‑acre lot; Three‑story main building with basement, plus a carriage house and heated 2‑car detached garage; Carriage house includes an occupied 2‑bedroom apartment, finished bar, full bath, and lower‑level workshop
