Two-Site Retail Property
For Sale
Contact for pricing
9950 E Warren Ave, Detroit, MI 48214
B4-zoned commercial offering with frontage on East Warren and Pennsylvania streets.
Property Size1,440 SF
Lot Size0.31 Acres
Price / SF$138.89
Days on Market130
Property Features for 9950 E Warren Ave
General Information
Standard status
Active
Size
1,440 SF
Lot size
0.31 Acres
Property subtype
Retail
Zoning
B4
Investment Type
Value Add
Building Details
Year Built
1965
Buildings
2
Listing Agency:
TAP CRE LLC
(313) 306-7653
Listed By:
Alan Davidov · License #6505433487
Source:
Crexi
Added: Apr 23
Changed: Aug 30
Last Checked: Aug 30 at 8:46AM
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 TAP CRE LLC
Investment Insights
Based on property information with market context.
This retail property offering combines two Detroit east-side commercial sites in one package. The properties total approximately 1,440 square feet of building area across 0.308 acres, with improvements dating to 1965. B4 zoning supports the recorded commercial classification.
The package includes frontage on East Warren Avenue and additional frontage on Pennsylvania Street. The combined sites are located in Detroit’s 48214 corridor, with surrounding residential density and nearby commercial activity identified in the offering materials.
The package includes frontage on East Warren Avenue and additional frontage on Pennsylvania Street. The combined sites are located in Detroit’s 48214 corridor, with surrounding residential density and nearby commercial activity identified in the offering materials.
Key Highlights
- Two Detroit commercial properties offered together as one package
- Approximately 1,440 SF of combined property size
- 0.308 acres combined
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
$17,736
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
8.87%
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%
$354,720
$354.7K
Cap Rate 7%
$253,371
$253.4K
Cap Rate 9%
$197,067
$197.1K
Market Conditions
NOI Build-Up for 1,440 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
$26.8K $18.60/SF
− Vacancy
−$1.4K −$1.00/SF
EGI
$25.3K $17.60/SF
− OpEx
−$7.6K −$5.28/SF
NOI
$17.7K $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%
$354,720
Cap Rate 7%
$253,371
Cap Rate 9%
$197,067
Alternative Uses
Best Use
Retail
$253.4K
$221.7K – $295.6K
NOI $17,736 @ 7.0% cap · market cap 8.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$317.7K
$278.0K – $370.6K
NOI $22,237 @ 7.0% cap · market cap 11.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
199
Businesses Nearby
6k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Sunoco
Shops & Services
4,304 visits/mo
0.1 miles
Mobil
Shops & Services
1,738 visits/mo
0.1 miles
Demographics for 48214, MI
18,959
Population
13,279
Households
1.4
Avg Household Size
44
Median Age
27%
College-Educated
84%
High-School Grad
5.1 sq mi
ZIP Area
3,717
Density / Sq Mi
$34,807
Median Household Income
$36,625
Median Earnings
$818
Median Rent
$120,500
Median Home Value
Market
Vacancy Rate% for Retail in Detroit, MI
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - B4-zoned commercial offering with frontage on East Warren and Pennsylvania streets.
Where is this retail space located?
The property is located at 9950 E Warren Ave Detroit, MI.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: Two Detroit commercial properties offered together as one package; Approximately 1,440 SF of combined property size; 0.308 acres combined
