Mixed-Use Property with Adjacent
For Sale
$250,000
8415 Brush Street, Detroit, MI 48202
Two-building property includes storage space and second-floor apartments.
Property Size1,735 SF
Days on Market81
Property Features for 8415 Brush Street
General Information
Standard status
Active
Size
1,735 SF
Property subtype
Commercial
Zoning
Commercial
Additional Details
Multifamily Units
2
Building Details
Building Size
1,735 SF
Year Built
1890
Buildings
2
Listing Agency:
Real Estate One-Southfield
(248) 723-0055
Listed By:
Gene Kelley II · License #6501293908
(248) 723-0055
Source:
Homesforsaleinmich
Added: Jun 5
Changed: Aug 23
Last Checked: Aug 23 at 10:34AM
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 One-Southfield
Investment Insights
Based on property information with market context.
This mixed-use property comprises two connected buildings at 8415 Brush St, with additional frontage at 8417-8419 Brush St. The improvements include storage areas and 2 apartments on the second floor, while an adjoining lot at 325 E. Euclid is included. Combined, the property offers almost 7000 sqft. of developable area. The sale is offered as-is, and the buildings date to 1890.
The property is located in Detroit’s New North End District, with a Walk Score of 70, a BikeScore of 56, and a TransitScore of 47. The site has operated for approximately 50 years as Reynolds Sewer Cleaning and Plumbing Supply, providing an established commercial use alongside its residential and storage components.
The property is located in Detroit’s New North End District, with a Walk Score of 70, a BikeScore of 56, and a TransitScore of 47. The site has operated for approximately 50 years as Reynolds Sewer Cleaning and Plumbing Supply, providing an established commercial use alongside its residential and storage components.
Key Highlights
- Almost 7000 sqft. of developable area
- Two connected buildings at 8415 Brush St and 8417‑8419 Brush St
- 2 second‑floor apartments plus storage space
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
$21,370
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
8.55%
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%
$427,400
$427.4K
Cap Rate 7%
$305,286
$305.3K
Cap Rate 9%
$237,444
$237.4K
Market Conditions
NOI Build-Up for 1,735 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
$32.3K $18.60/SF
− Vacancy
−$1.7K −$1.00/SF
EGI
$30.5K $17.60/SF
− OpEx
−$9.2K −$5.28/SF
NOI
$21.4K $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 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%
$427,400
Cap Rate 7%
$305,286
Cap Rate 9%
$237,444
Alternative Uses
Best Use
Retail
$305.3K
$267.1K – $356.2K
NOI $21,370 @ 7.0% cap · market cap 8.55%
Second Best
Mixed Use
$294.5K
$257.7K – $343.5K
NOI $20,612 @ 7.0% cap · market cap 8.24%
Theoretical Best
Office A
$382.7K
$334.9K – $446.5K
NOI $26,792 @ 7.0% cap · market cap 10.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
941
Businesses Nearby
20k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 95%
Electronics 5%
Family Dollar
Shops & Services
8,807 visits/mo
0.3 miles
Citgo
Shops & Services
6,019 visits/mo
0.3 miles
Mobil
Shops & Services
4,652 visits/mo
0.4 miles
Metro by T-Mobile
Electronics
958 visits/mo
0.3 miles
Demographics for 48202, MI
17,260
Population
10,078
Households
1.7
Avg Household Size
32
Median Age
38%
College-Educated
91%
High-School Grad
3.4 sq mi
ZIP Area
5,076
Density / Sq Mi
$36,536
Median Household Income
$31,725
Median Earnings
$894
Median Rent
$193,700
Median Home Value
Market
Vacancy Rate% for Retail in Detroit, MI
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-building property includes storage space and second-floor apartments.
Where is this mixed-use property located?
The property is located at 8415 Brush Street Detroit, MI.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Almost 7000 sqft. of developable area; Two connected buildings at 8415 Brush St and 8417‑8419 Brush St; 2 second‑floor apartments plus storage space
