Four-Unit Colonial
999-997 Nottingham Street, Grosse Pointe Park, MI 48230
For Sale
$528,500
MULTIFAMILY, Grosse Pointe Park, MI
Property Size4,208 SF
Price / SF$125.59
Days on Market57
Property Features for 999-997 Nottingham Street
General Information
Property type
Property subtype
Zoning description
Bedrooms
Bathrooms
Full bathrooms
Rooms
Patio and Porch features
Exterior features
Appliances
Subdivision
Elementary school district
Middle school district
High school district
Standard status
APN
Size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Heating system
Cooling system
Water source
Building Details
Year built
Floors in Building
Number of units
Architectural style
Listing Agency:
W.C. Collins Realty · Century 21 Real Estate
(586) 281-2211
Listed By:
Carol Z Koepplin
(586) 215-5228
Added: Sep 14
Changed: Oct 27
Last Checked: Nov 9 at 5:06AM
MLS# 50221729
Copyright © 2026 Multiple Listing Service MiRealSource. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 4208-square-foot Colonial property, built in 1926, contains four rented apartments with hardwood floors, efficient kitchens, formal dining rooms, and bedrooms positioned at the rear of each unit. Each apartment includes a stove and refrigerator, while individual basement areas provide a washer, dryer, boiler, hot water tank, and circuit-breaker electrical panels. The lower apartments have private porches, and the upper apartments share a larger porch. Window unit cooling and hot water heating are present throughout the property.
A four-car garage provides one space for each apartment, with an additional alley parking space. DTE dusk-to-dawn lighting serves the alley and side of the building. Tenants pay their own utilities. The property is located near freeways, bus lines, schools, shopping, restaurants, hospitals, and the Grosse Pointe Park Waterfront park in Grosse Pointe Park, Michigan.
A four-car garage provides one space for each apartment, with an additional alley parking space. DTE dusk-to-dawn lighting serves the alley and side of the building. Tenants pay their own utilities. The property is located near freeways, bus lines, schools, shopping, restaurants, hospitals, and the Grosse Pointe Park Waterfront park in Grosse Pointe Park, Michigan.
Key Highlights
- Four rented apartments in a 4208 SF Colonial property
- Built in 1926 with hardwood floors and formal dining rooms
- Separate basement areas include washers, dryers, boilers, hot water tanks, and circuit‑breaker panels
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,312
Cap Rate
7.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$826,240
$826.2K
Cap Rate 7%
$590,171
$590.2K
Cap Rate 9%
$459,022
$459.0K
Market Conditions
NOI Build-Up for 4,208 SF
Gross rent
$63.1K $15.00/SF
− Vacancy
−$4.1K −$0.98/SF
EGI
$59.0K $14.03/SF
− OpEx
−$17.7K −$4.21/SF
NOI
$41.3K $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 Rate 5%
$826,240
Cap Rate 7%
$590,171
Cap Rate 9%
$459,022
Alternative Uses
Best Use
Multifamily LT 5
$590.2K
$516.4K – $688.5K
NOI $41,312 @ 7.0% cap · market cap 7.82%
Second Best
Apartment 5plus
$541.9K
$474.2K – $632.3K
NOI $37,935 @ 7.0% cap · market cap 7.18%
Theoretical Best
Specialty Retail
$779.1K
$681.7K – $908.9K
NOI $54,536 @ 7.0% cap · market cap 10.32%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
584
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
$448,200
Median Home Value
Market
Average Price Trend$/SF for Quadplexes in Wayne County, MI
Properties on Market for Quadplexes in Wayne County
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - Four occupied apartments feature individual basement areas, in-unit appliances, and shared access to laundry equipment.
Where is this quadplex located?
The property is located at 999-997 Nottingham Street Grosse Pointe Park, MI.
What is the asking price?
The asking price for this property is $528,500.
What are key features of this property?
This property features: Four rented apartments in a 4208 SF Colonial property; Built in 1926 with hardwood floors and formal dining rooms; Separate basement areas include washers, dryers, boilers, hot water tanks, and circuit‑breaker panels
