Commercial Plaza in Highland
16600 HAMILTON Avenue, Highland Park, MI 48203
Real Estate Only - Highland Park, MI
Property size:
6,655 SFLot size:
0.34 AcresPrice / SF:
$120/SF- Added:
- May 1, 2025
- Days on Market:
- 381
- Last Refresh:
- May 16 at 1:06 pm
Property Features for 16600 HAMILTON Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- Commercial
- Standard status
- Active
- APN
- 43003010633000
- Size
- 6,655 SF
- Lot size
- 0.34 Acres
Taxes and HOA fees
- Tax Annual Amount
- 13774
- Expense value
- 25
- Expense
- Security Deposit
- Expense freq.
- Once
Building Details
- Year built
- 2001
- Floors in Building
- 1
- Building materials
- Block
- Architectural style
- Other
Listing agent Joseph Sesi (248) 617-7777
Listing office EXP Realty Main 39555 Orchard Hill Place Ste 600, Royal Oak, MI (888) 501-7085
Listing date May 1, 2025
MLS# 20250031150
Listing URL
Copyright © 2026 Realcomp Limited II. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- High‑traffic location with outstanding visibility near I‑75 and Davison Freeway.
- Fully vacant 4‑unit commercial plaza suitable for owner‑users, investors, or businesses.
- Versatile zoning allows for retail, office, or service‑based businesses.
- One large 3,655 sq ft unit and three approximately 1,000 sq ft units.
- Built in 2001 with block construction.
- All units feature private restrooms and 13‑foot ceiling heights.
Overview
This commercial plaza, constructed in 2001, is located on a high-traffic corridor in Highland Park, Michigan, offering convenient access to I-75 and the Davison Freeway. The property is zoned for commercial use and is suitable for retail, office, or service-based businesses. The building features one large 3,655-square-foot unit and three additional units of approximately 1,000 square feet each. All units include private restrooms and 13-foot ceiling heights. The property, situated on a 0.34-acre lot, provides ample on-site parking for tenants and customers. The 6,655-square-foot building is fully vacant. The property is located in a growing commercial corridor with strong local traffic and nearby development activity.
Financial Insights
Value Estimation Calculated for Retail
Conservative
$700.6K
NOI $63,057 @ 9.00% cap · cautious / downside scenario
Moderate
$900.8K
NOI $63,057 @ 7.00% cap · market / base-case scenario
Aggressive
$1.26M
NOI $63,057 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $95.8k | $14.40 |
| − Vacancy | −$5.7k | −$0.86 |
| EGI | $90.1k | $13.54 |
| − OpEx | −$27.0k | −$4.06 |
| NOI | $63.1k | $9.48 |
6,655 SF · lease $14.40/SF/yr · vacancy 6.00% · expense 30.00%
Alternative Use Scenarios
Best Use
Retail
$900.8K
$788.2K – $1.05M
NOI $63,057 @ 7.0% cap · market cap 7.88%
Second Best
Office B
$327.3K
$286.4K – $381.8K
NOI $22,910 @ 7.0% cap · market cap 2.86%
Theoretical Best
Specialty Retail
$1.23M
$1.08M – $1.44M
NOI $86,249 @ 7.0% cap · market cap 10.78%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Neighborhood centers
Location Insight
- Map
- Local Demand
- City
- Highland Park
- County
- Wayne
- State
- Michigan
- Longitude
- -83.1141097
- Latitude
- 42.4147555
Nearby Similar for Sale
FAQs
What type of property is this?
Neighborhood center - Well-maintained commercial plaza with high visibility and easy access.
Where is this neighborhood center located?
The property is located at 16600 HAMILTON Avenue Highland Park, MI.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: High‑traffic location with outstanding visibility near I‑75 and Davison Freeway.; Fully vacant 4‑unit commercial plaza suitable for owner‑users, investors, or businesses.; Versatile zoning allows for retail, office, or service‑based businesses.
