999999999 22713-22715 Plymouth Rd, Redford, MI 48239

Building Details

Year Built 1952 More

Listing Agency: Real Broker LLC - The Binkley Group

Listed By: David Binkley Show Phone

Source: Katie-k

Added: Sep 16 Changed: Oct 25 Last Checked: Oct 7 at 2:19PM

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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

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Review the available facts, identify missing information and prepare questions for the agent.

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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.

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 / Yr

$14,780

Cap Rate

7.04%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$295,600 $295.6K

Cap Rate 7%

$211,143 $211.1K

Cap Rate 9%

$164,222 $164.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,200 SF

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 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 (±1% cap)

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 (±1% cap)

NOI $18,531 @ 7.0% cap · market cap 8.82%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Storefront properties

Suggested Use

Top Pick Law Firm Real Estate Agency Dental Office Spa & Massage Center Skin Care Clinic Gym & Fitness Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

Average Price Trend$/SF for Storefront properties in Wayne County, MI

$116 Jul

$118 Aug

$132 Sep

$136 Oct

Properties on Market for Storefront properties in Wayne County

Jul

Aug

Sep

Oct

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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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