Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Property profile & analytics

    1121 Van Dyke St Detroit, MI 48214-4244

    • Commercial real estate
    • 20,019 SF
    • 0.23 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-0322580
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • SPARC Creative Group / Graphic Designer

    Property Details for 1121 Van Dyke St

    Year built
    1924
    Lot size
    0.23 lot acres
    Property size
    20,019 SF
    Zone code
    R5
    Property type
    Commercial real estate
    APN
    17010314.
    APU
    17010314

    Description

    This exceptional 16-unit apartment building, located at 1121 Van Dyke St in Detroit, Michigan's West Village, presents a rare investment opportunity. Boasting over 20,000 square feet, the property showcases remarkable historic charm, featuring ornate woodwork, detailed moldings, original fireplaces, and beautifully preserved wood and tile floors. The building's Class B designation reflects its potential for significant upgrades and value enhancement. Currently configured as 16 individual units, each unit offers substantial character and potential for modernization. The asking price is $3,950,000, translating to $246,875 per unit. Situated in a highly desirable and historic neighborhood, this iconic building offers a unique chance to acquire a significant piece of Detroit's architectural heritage. The property's size and location provide a strong foundation for a variety of investment strategies, from restoring the building to its former glory to creating luxury apartments. This is a truly exceptional opportunity to own a landmark property in a rapidly revitalizing area of Detroit, with significant potential for future appreciation. The property is zoned for multifamily use and is located in Wayne County, zip code 48214. This is a turnkey opportunity for an investor seeking a high-return property in a prime location. The building's substantial square footage and unit count offer significant upside potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -82.9977
    Latitude
    42.3546
    CBSA code
    19820
    CBSA name
    DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $23,163
    $0.00
    $0.00
    $645,800
    -
    $0.00
    $0.00
    $1,291,600

    Comparable in this City

    • Value Estimation by Request
      0.07 Acres

      527 Townsend St

      COMMERCIAL (GENERAL) • 0.07 Acres
      527 Townsend St, Detroit, MI 48214-2507
      View Details
    • Value Estimation by Request
      0.08 Acres

      2109 Lillibridge St

      COMMERCIAL (GENERAL) • 0.08 Acres
      2109 Lillibridge St, Detroit, MI 48214-3256
      View Details
    • Value Estimation by Request
      1.23 Acres

      11200 Freud St

      COMMERCIAL (GENERAL) • 1.23 Acres
      11200 Freud St, Detroit, MI 48214-3455
      View Details
    • Value Estimation by Request
      0.06 Acres

      8002 Kercheval St

      COMMERCIAL (GENERAL) • 0.06 Acres
      8002 Kercheval St, Detroit, MI 48214-2632
      View Details
    • Value Estimation by Request

      8469 Jefferson Ave

      COMMERCIAL (GENERAL)
      8469 Jefferson Ave, Detroit, MI 48214-2721
      View Details
    • Value Estimation by Request
      0.11 Acres

      8801 David St

      COMMERCIAL (GENERAL) • 0.11 Acres
      8801 David St, Detroit, MI 48214-1242
      View Details

    Similar Nearby for Sale

    • $575,000
      0.70 Acres

      Jefferson Ave Development Land

      Prime Detroit land, 0.7 acres, B4 zoning.
      10410 Jefferson Ave, Detroit, MI 48214
      View Details
    • $240,000
      0.43 Acres

      EV Development Opportunity - 11301 E. Jefferson

      Land • 0.43 Acres
      11301 Jefferson Ave, Detroit, MI 48214
      View Details
    • $350,000

      Historic St. Rose Hall Detroit

      Historic hall near Stellantis plant with flexible zoning.
      11235 Kercheval St, Detroit, MI 48214
      View Details
    • $110,000

      Detroit Duplex Investment Opportunity

      Income-producing duplex in Detroit, generating $1800 monthly rent.
      3517 Belvidere St, Detroit, MI 48214
      View Details
    • Contact for pricing

      Detroit Land Opportunity

      Land available in Detroit, Michigan.
      3523 Baldwin St, Detroit, MI 48214
      View Details
    • $100,000

      Prime Land in Emerging Neighborhood

      0.1-acre parcel near Indian Village, prime development opportunity.
      8646 Kercheval St, Detroit, MI 48214
      View Details

    Similar Nearby for Lease

    • $22 SF/Yr
      594,105 SF

      Jefferson Ave Retail Space For Lease

      Prime Detroit retail space, 594,105 sqft building.
      9000 Jefferson Ave, Detroit, MI 48214
      View Details
    • $2,500 /Mo

      Detroit Riverfront Land For Lease

      486' Detroit Riverfront land available for lease.
      8377-8427 W Jefferson Ave, Detroit, MI 48214
      View Details
    • $786 /Mo

      Detroit Apartment for Rent

      Apartment available for rent in Detroit, Michigan.
      8330 E Jefferson Ave, Detroit, MI 48214
      View Details
    • Contact for pricing

      Retail Space Near Chrysler Plant

      Retail space available in renovated shopping center near Chrysler Plant.
      11900 E Warren Ave, Detroit, MI 48214
      View Details
    • $25 SF/Yr
      1,180 SF

      Prime Retail Space in Detroit

      Flexible retail spaces in a modern mixed-use building.
      8001 Kercheval St, Detroit, MI 48214
      View Details
    • Contact for pricing
      21,600 SF

      Detroit Executive Office Suites

      Prime Mack Avenue Office Space Available
      11205 Mack Ave, Detroit, MI 48214
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1121 Van Dyke St
    Detroit, MI 48214-4244
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.