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    6331 Jefferson Ave Detroit, MI 48207-4317
    Property profile & analytics

    6331 Jefferson Ave Detroit, MI 48207-4317

    View on Map
    • Drug stores
    • 14,510 SF
    • 1.30 lot acres
    Off-Market
    Property ID
    US43-1476955
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $1,695,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Walgreens Photo / (Bike/Boat/Book/etc) Store
    • Anula Thuruthikkara, RPH / Pharmacy
    • Anil B. Guntupalli, MPharm / Pharmacy
    • Walgreens / Cosmetic Store
    • FedEx OnSite / Postal Service / Courier Service

    Property Details for 6331 Jefferson Ave

    Year built
    2002
    Lot size
    1.30 lot acres
    Property size
    14,510 SF
    Zone code
    SD4
    Property type
    Drug stores
    APN
    15000027-8
    APU
    150000278

    Description

    This exceptional multi-tenant retail property, located at 6331 E Jefferson Ave, Detroit, MI 48207, presents a compelling investment opportunity. The 28,054 square foot center boasts a strong tenant lineup including Walgreens, Little Caesars, Harbortown Laundromat, Dollar Daze, and She's Happy Hair, spread across three buildings on a 2.4-acre lot. Built in 2002, the property features a mix of retail uses, including pharmacy, quick-service restaurant, and other retail spaces. The current occupancy rate stands at 87.37%, generating a Net Operating Income (NOI) of $247,035, resulting in a 7.75% capitalization rate. The asking price is $3,187,552, translating to $113.62 per square foot. The property benefits from a high-traffic location, experiencing over 39,000 vehicles per day, and serves a population exceeding 780,000 within a 10-mile radius. Data indicates that the Walgreens and Little Caesars locations within the center rank in the top 30% and 25%, respectively, nationwide for customer visits. Lease terms vary by tenant, with rent bumps also varying. The property is offered fee simple, with six total units across three single-story buildings. This investment offers significant potential for long-term growth and profitability in a thriving Detroit market. One unit is currently vacant, presenting an opportunity to increase revenue.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,645,000
      Market price range: $432k - $1.65M
      AI Estimate
      $1,748,000
      Market price range: $447k - $1.75M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,325,000
      RESTAURANT
      $1,325,000
      NEIGHBORHOOD: SHOPPING CENTER
      $1,100,000

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.0097
    Latitude
    42.3443
    CBSA code
    19820
    CBSA name
    DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $48,915
    $0.00
    $0.00
    $625,300
    -
    $0.00
    $0.00
    $1,250,600

    Comparable in this City

    • Value Estimation
      $1,370,000
      11,697 SF

      3234 Jefferson Ave

      DRUG STORE, PHARMACY • 11,697 SF
      3234 Jefferson Ave, Detroit, MI 48207-4223
      View Details
    • Value Estimation
      $5,330,000
      45,596 SF

      1575 Lafayette St

      RETAIL STORES (PERSONAL SERVICES) • 45,596 SF
      1575 Lafayette St, Detroit, MI 48207-2958
      View Details
    • Value Estimation by Request
      4,856 SF

      2509 Russell St

      RETAIL STORES (PERSONAL SERVICES) • 4,856 SF
      2509 Russell St, Detroit, MI 48207-2632
      View Details
    • Value Estimation by Request
      3,342 SF

      4400 Saint Aubin St

      FINANCIAL BUILDING • 3,342 SF
      4400 Saint Aubin St, Detroit, MI 48207-1111
      View Details
    • Value Estimation by Request
      6,084 SF

      6923 Jefferson Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,084 SF
      6923 Jefferson Ave, Detroit, MI 48207-3727
      View Details
    • Value Estimation by Request
      1,536 SF

      4257 Mcdougall St

      RETAIL STORES (PERSONAL SERVICES) • 1,536 SF
      4257 Mcdougall St, Detroit, MI 48207-1519
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,000 SF

      Retail Space Near Downtown Detroit

      3,000 SF retail space with high visibility and accessibility.
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      View Details
    • Contact for pricing
      1,689 SF

      Freestanding Retail Redevelopment Opportunity

      Freestanding retail building with redevelopment potential near Belle Isle.
      6929-6931 E Jefferson Ave, Detroit, MI 48207
      View Details
    • $24 SF/Yr
      4,000 SF

      Retail Space in Gratiot Square

      Retail space available in Gratiot Square Plaza.
      3641 Gratiot Ave, Detroit, MI 48207
      View Details
    • Contact for pricing

      Restored Mixed-Use Building in Eastern Market

      Renovated mixed-use building with retail, office, and live-work spaces.
      1400 Gratiot Ave, Detroit, MI 48207
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      Mixed-Use Property Near Downtown Detroit

      Mixed-use property with retail/office space and apartment units for rent.
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      Retail Space for Lease

      Retail space available at Vernor Highway & Dragoon Street.
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      View Details
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    Detroit, MI 48207-4317
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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