Retail Space For
For Sale
Contact for pricing
6308 N Wayne Rd, Westland, MI 48185
Retail space available for purchase.
Property Size2,839 SF
Price / SF$174.36
Days on Market993
Property Features for 6308 N Wayne Rd
General Information
Standard status
Active
Size
2,839 SF
Property subtype
Retail
Zoning
CB-3
Listing Agency:
Landmark Commercial Real Estate Services
Listed By:
Anthony J. Vitale · License #6501381001
(248) 488-2620
Source:
Crexi
Added: Jan 31, 2024
Changed: Oct 10
Last Checked: Oct 19 at 3:39AM
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 Landmark Commercial Real Estate Services
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This retail space, with a size of 2839 square feet, is available for sale.
Key Highlights
- No property information provided.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,900
Cap Rate
5.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$538,000
$538.0K
Cap Rate 7%
$384,286
$384.3K
Cap Rate 9%
$298,889
$298.9K
Market Conditions
NOI Build-Up for 2,839 SF
Gross rent
$40.9K $14.40/SF
− Vacancy
−$2.5K −$0.86/SF
EGI
$38.4K $13.54/SF
− OpEx
−$11.5K −$4.06/SF
NOI
$26.9K $9.48/SF
Area
Wayne County, MI
Vacancy
6.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$538,000
Cap Rate 7%
$384,286
Cap Rate 9%
$298,889
Alternative Uses
Best Use
Retail
$384.3K
$336.3K – $448.3K
NOI $26,900 @ 7.0% cap · market cap 5.43%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$525.6K
$459.9K – $613.2K
NOI $36,793 @ 7.0% cap · market cap 7.43%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
271
Businesses Nearby
24k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Mobil
Shops & Services
8,231 visits/mo
0.5 miles
Sunoco
Shops & Services
5,568 visits/mo
0.5 miles
Shell
Shops & Services
5,411 visits/mo
0.2 miles
Valero Energy
Shops & Services
4,944 visits/mo
0.4 miles
Demographics for 48185, MI
49,730
Population
23,554
Households
2.1
Avg Household Size
40
Median Age
23%
College-Educated
91%
High-School Grad
12.2 sq mi
ZIP Area
4,076
Density / Sq Mi
$59,085
Median Household Income
$40,435
Median Earnings
$1,123
Median Rent
$183,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - Retail space available for purchase.
Where is this retail space located?
The property is located at 6308 N Wayne Rd Westland, MI.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: No property information provided.
