Kercheval Avenue Mixed-Use
For Sale
$1,190,000
8116 Kercheval St, Detroit, MI 48214
Three renovated mixed-use buildings with retail and residential units.
Property Size5,215 SF
Price / SF$228.19
Days on Market233
Property Features for 8116 Kercheval St
General Information
Standard status
Active
Size
5,215 SF
Site & Location
Neighborhood
West Village
Building Details
Year Built
1916
Listing Agency:
O'Connor Realty Detroit, LLC
Listed By:
Vincent Mazzola · License #6501387170
(313) 704-2678
Source:
Katie-k
Added: Mar 10
Changed: Oct 25
Last Checked: Oct 7 at 3:34PM
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 Realty Detroit, LLC
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Investment Insights
Based on property information with market context.
Located on Kercheval Avenue between Parker and Seminole Streets in Detroit’s West Village, 8116 Kercheval consists of three historic mixed-use buildings. The buildings were fully renovated in 2016 and include both retail and residential units. The ground floor is fully leased to Two Birds, a bar and ice cream shop, currently expanding into an adjacent retail space, and Velvet Tower, a vintage clothing store. The second floor includes three residential units ranging from 720 to 1,106 square feet, which are currently operated as short-term rentals generating income above standard residential leases. The property features a wrap-around terrace/community space that connects the buildings and provides additional usable outdoor area. Positioned a block from neighborhood landmarks Sister Pie and Marrow, this offering presents a unique opportunity in one of the most vibrant, commercially established sections of desirable West Village.
Key Highlights
- Prime location in Detroit's desirable West Village, near Sister Pie and Marrow.
- Fully renovated in 2016, featuring three historic mixed‑use buildings.
- Ground floor fully leased to established businesses (Two Birds, Velvet Tower).
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,954
Cap Rate
5.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,239,080
$1.2M
Cap Rate 7%
$885,057
$885.1K
Cap Rate 9%
$688,378
$688.4K
Market Conditions
NOI Build-Up for 5,215 SF
Gross rent
$112.6K $21.60/SF
− Vacancy
−$13.5K −$2.59/SF
EGI
$99.1K $19.01/SF
− OpEx
−$37.2K −$7.13/SF
NOI
$62.0K $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%
$1,239,080
Cap Rate 7%
$885,057
Cap Rate 9%
$688,378
Alternative Uses
Best Use
Mixed Use
$885.1K
$774.4K – $1.03M
NOI $61,954 @ 7.0% cap · market cap 5.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.15M
$1.01M – $1.34M
NOI $80,531 @ 7.0% cap · market cap 6.77%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
641
Businesses Nearby
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Business Placement
Demographics for 48214, MI
18,959
Population
13,279
Households
1.4
Avg Household Size
44
Median Age
27%
College-Educated
84%
High-School Grad
5.1 sq mi
ZIP Area
3,717
Density / Sq Mi
$34,807
Median Household Income
$36,625
Median Earnings
$818
Median Rent
$120,500
Median Home Value
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three renovated mixed-use buildings with retail and residential units.
Where is this mixed-use property located?
The property is located at 8116 Kercheval St Detroit, MI.
What is the asking price?
The asking price for this property is $1,190,000.
What are key features of this property?
This property features: Prime location in Detroit's desirable West Village, near Sister Pie and Marrow.; Fully renovated in 2016, featuring three historic mixed‑use buildings.; Ground floor fully leased to established businesses (Two Birds, Velvet Tower).
