Two-Space Storefront
New
For Sale
$210,000
999999999 22713-22715 Plymouth Rd, Redford, MI 48239
Two separately addressed commercial spaces with front and rear parking.
Property Size1,200 SF
Price / SF$175
Days on Market2
Property Features for 999999999 22713-22715 Plymouth Rd
General Information
Standard status
Active
Size
1,200 SF
Building Details
Year Built
1952
Listing Agency:
Real Broker LLC - The Binkley Group
Listed By:
David Binkley
(855) 450-0442
Source:
Katie-k
Added: Sep 16
Changed: Sep 17
Last Checked: Sep 16 at 8:21PM
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 Real Broker LLC - The Binkley Group
Investment Insights
Based on property information with market context.
This storefront property includes two separately addressed commercial spaces at 22713-22715 Plymouth Rd. The spaces are currently occupied under a month-to-month lease, providing an existing tenancy arrangement with flexibility for continued leasing or future owner occupancy. The building was constructed in 1952.
Front and rear parking serve the property, with access from Plymouth Rd in Redford, Michigan. The two-space configuration supports separate occupancy or continued use by the current tenant, subject to applicable requirements.
Front and rear parking serve the property, with access from Plymouth Rd in Redford, Michigan. The two-space configuration supports separate occupancy or continued use by the current tenant, subject to applicable requirements.
Key Highlights
- Two separately addressed storefront spaces at 22713‑22715 Plymouth Rd
- Current tenant occupies the property on a month‑to‑month lease
- Front and rear parking areas
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
$14,780
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
7.04%
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%
$295,600
$295.6K
Cap Rate 7%
$211,143
$211.1K
Cap Rate 9%
$164,222
$164.2K
Market Conditions
NOI Build-Up for 1,200 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
$22.3K $18.60/SF
− Vacancy
−$1.2K −$1.00/SF
EGI
$21.1K $17.60/SF
− OpEx
−$6.3K −$5.28/SF
NOI
$14.8K $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%
$295,600
Cap Rate 7%
$211,143
Cap Rate 9%
$164,222
Alternative Uses
Best Use
Retail
$211.1K
$184.8K – $246.3K
NOI $14,780 @ 7.0% cap · market cap 7.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$264.7K
$231.6K – $308.9K
NOI $18,531 @ 7.0% cap · market cap 8.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
322
Businesses Nearby
47k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 69%
Dining 31%
Marathon Petroleum
Shops & Services
10,180 visits/mo
0.1 miles
Arby's
Dining
6,757 visits/mo
0.2 miles
Mobil
Shops & Services
6,215 visits/mo
BP
Shops & Services
6,180 visits/mo
0.1 miles
Public Service Credit Union
Shops & Services
5,915 visits/mo
0.4 miles
Demographics for 48239, MI
36,814
Population
14,869
Households
2.5
Avg Household Size
40
Median Age
23%
College-Educated
93%
High-School Grad
9.5 sq mi
ZIP Area
3,875
Density / Sq Mi
$69,373
Median Household Income
$41,113
Median Earnings
$1,355
Median Rent
$145,900
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Two separately addressed commercial spaces with front and rear parking.
Where is this storefront property located?
The property is located at 999999999 22713-22715 Plymouth Rd Redford, MI.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: Two separately addressed storefront spaces at 22713‑22715 Plymouth Rd; Current tenant occupies the property on a month‑to‑month lease; Front and rear parking areas
