Belleville Commercial Building on
For Sale
$445,000
51391 Willis Rd, Belleville, MI 48111
Commercial building on 0.42 acre corner lot in Belleville.
Property Size2,646 SF
Lot Size0.42 Acres
Price / SF$168.18
Days on Market195
Property Features for 51391 Willis Rd
General Information
Standard status
Active
Size
2,646 SF
Lot size
0.42 Acres
Property subtype
Retail
Building Details
Building Size
2,646 SF
Listed By:
Steve Valli
(248) 476-5394
Source:
Thomasduke
Added: Mar 26
Changed: Oct 4
Last Checked: Oct 5 at 5:21PM
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 Steve Valli
Investment Insights
Based on property information with market context.
This commercial property features a 2,646 square foot building situated on a 0.42 acre corner lot in Belleville, Michigan.
Key Highlights
- 0.42 acre corner lot
- 2,646 SF commercial building
- Located in Belleville, Michigan
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,071
Cap Rate
5.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$501,420
$501.4K
Cap Rate 7%
$358,157
$358.2K
Cap Rate 9%
$278,567
$278.6K
Market Conditions
NOI Build-Up for 2,646 SF
Gross rent
$38.1K $14.40/SF
− Vacancy
−$2.3K −$0.86/SF
EGI
$35.8K $13.54/SF
− OpEx
−$10.7K −$4.06/SF
NOI
$25.1K $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%
$501,420
Cap Rate 7%
$358,157
Cap Rate 9%
$278,567
Alternative Uses
Best Use
Retail
$358.2K
$313.4K – $417.9K
NOI $25,071 @ 7.0% cap · market cap 5.63%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$489.9K
$428.7K – $571.5K
NOI $34,292 @ 7.0% cap · market cap 7.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
43
Businesses Nearby
13k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
BP
Shops & Services
9,772 visits/mo
0.1 miles
Marathon Petroleum
Shops & Services
3,255 visits/mo
0.0 miles
Demographics for 48111, MI
44,055
Population
19,406
Households
2.3
Avg Household Size
40
Median Age
27%
College-Educated
92%
High-School Grad
66.9 sq mi
ZIP Area
659
Density / Sq Mi
$74,125
Median Household Income
$42,194
Median Earnings
$1,162
Median Rent
$239,400
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Storefront property - Commercial building on 0.42 acre corner lot in Belleville.
Where is this storefront property located?
The property is located at 51391 Willis Rd Belleville, MI.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: 0.42 acre corner lot; 2,646 SF commercial building; Located in Belleville, Michigan
