Updated Duplex With Vacant Lower
New
For Sale
$350,000
Pending
873-875 Beaconsfield Ave, Grosse Pointe Park, MI 48230
Two-unit property with extensive recent improvements and access to walkable neighborhood amenities.
Property Size2,230 SF
Days on Market4
Property Features for 873-875 Beaconsfield Ave
General Information
Standard status
Pending
Size
2,230 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$9,949
Building Details
Building Size
2,230 SF
Year Built
1928
Units
2
Listing Agency:
Higbie Maxon Agney, Inc.
(586) 212-9694
Listed By:
Caitlin Kashef
(586) 212-9694
Source:
Elliman
Added: Aug 8
Changed: Aug 11
Last Checked: Aug 9 at 9:04AM
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 Higbie Maxon Agney, Inc.
Investment Insights
Based on property information with market context.
This 1928 duplex includes two residential units, with the lower unit vacant and the other occupied by a long-term tenant. Recent work includes replacement of the house and garage roofs, all windows, the boiler, and the hot water heater. Additional improvements include a new parking pad, interior and exterior paint, epoxy flooring in the basement, and refinished hardwood floors.
The property is near Fairfax Market, West Park, and two resident-only lakefront parks in Grosse Pointe Park. Downtown Detroit is approximately 10 minutes away. Walk Score is 60, Bike Score is 55, and Transit Score is 36, reflecting access to nearby daily services, recreation, and transit options.
The property is near Fairfax Market, West Park, and two resident-only lakefront parks in Grosse Pointe Park. Downtown Detroit is approximately 10 minutes away. Walk Score is 60, Bike Score is 55, and Transit Score is 36, reflecting access to nearby daily services, recreation, and transit options.
Key Highlights
- Two‑unit duplex with vacant lower unit and long‑term tenant in the other unit
- Built in 1928
- House and garage roofs, all windows, boiler, and hot water heater recently replaced
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
$21,893
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
6.26%
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%
$437,860
$437.9K
Cap Rate 7%
$312,757
$312.8K
Cap Rate 9%
$243,256
$243.3K
Market Conditions
NOI Build-Up for 2,230 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
$33.5K $15.00/SF
− Vacancy
−$2.2K −$0.98/SF
EGI
$31.3K $14.03/SF
− OpEx
−$9.4K −$4.21/SF
NOI
$21.9K $9.82/SF
Area
Wayne County, MI
Vacancy
6.50%
Lease Rate
$15.00 /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%
$437,860
Cap Rate 7%
$312,757
Cap Rate 9%
$243,256
Alternative Uses
Best Use
Multifamily LT 5
$312.8K
$273.7K – $364.9K
NOI $21,893 @ 7.0% cap · market cap 6.26%
Second Best
Apartment 5plus
$287.2K
$251.3K – $335.1K
NOI $20,103 @ 7.0% cap · market cap 5.74%
Theoretical Best
Specialty Retail
$412.9K
$361.3K – $481.7K
NOI $28,901 @ 7.0% cap · market cap 8.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
774
Businesses Nearby
Explore this area
Business Placement
Demographics for 48230, MI
17,559
Population
7,369
Households
2.4
Avg Household Size
42
Median Age
73%
College-Educated
99%
High-School Grad
3.3 sq mi
ZIP Area
5,321
Density / Sq Mi
$131,155
Median Household Income
$65,716
Median Earnings
$1,451
Median Rent
$448,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with extensive recent improvements and access to walkable neighborhood amenities.
Where is this duplex located?
The property is located at 873-875 Beaconsfield Ave Grosse Pointe Park, MI.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Two‑unit duplex with vacant lower unit and long‑term tenant in the other unit; Built in 1928; House and garage roofs, all windows, boiler, and hot water heater recently replaced
