Shopping Center with Development
41560 - 41660 Garfield Road Clinton Township, MI 48038
41560 - 41660 Garfield Road, Clinton Township, MI, 48038
$1,895,000
Pending
For Sale
$1,895,000
Pending
COMMERCIAL - Clinton Township, MI
Property Size14,800 SF
Lot Size3.05 Acres
Days on Market96
Property Features for 41560 - 41660 Garfield Road
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Parking features
- Parking Lot
- Standard status
- Pending
- APN
- 11-08-302-024
- Size
- 14,800 SF
- Lot size
- 3.05 Acres
Utilities
- Heating system
- Forced Air
- Water source
- Public
Building Details
- Year built
- 1979
- Roof type
- Flat
Listing Agency
Pilot Property Group - Residential LLC
(586) 254-0900
38600 Van Dyke Ste 325, Shelby Twp, MI
Listed by
Alexander Termini · License #6501392648
(586) 291-0499
Added: Apr 13 Checked: Jul 17 at 11:06 am
MLS# 50204136
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Investment Insights
Based on property information with market context.
This for-sale shopping center includes approximately 7,600 square feet of available space, comprised of 5,200 SF and 2,400 SF. The offering includes the flexibility of additional land located behind the shopping center, which is presented as an opportunity for future development, expansion, or redevelopment.
Located at 41560–41660 Garfield Road in Clinton Township, Michigan (48038), the property sits on a 3.05-acre lot. The available space and the extra land combine to support a range of potential operating plans within a single asset.
The property is presented as well-suited for a tenant mix that can include retail, restaurant, and office users. With a defined block of available space and additional land behind the center, the configuration may appeal to investors or operators looking to align leasing and future site planning with their specific mix and timeline.
Located at 41560–41660 Garfield Road in Clinton Township, Michigan (48038), the property sits on a 3.05-acre lot. The available space and the extra land combine to support a range of potential operating plans within a single asset.
The property is presented as well-suited for a tenant mix that can include retail, restaurant, and office users. With a defined block of available space and additional land behind the center, the configuration may appeal to investors or operators looking to align leasing and future site planning with their specific mix and timeline.
Key Highlights
- Approximately 7,600 SF available retail/tenant space (5,200 SF and 2,400 SF).
- Flat roof and forced‑air heating.
- Public water service and parking lot parking.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $177.6k | $12.00 |
| − Vacancy | −$21.3k | −$1.44 |
| EGI | $156.3k | $10.56 |
| − OpEx | −$46.9k | −$3.17 |
| NOI | $109.4k | $7.39 |
14,800 SF · lease $12.00/SF/yr · vacancy 12.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.56M
$1.37M – $1.82M
NOI $109,402 @ 7.0% cap · market cap 5.77%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.77M
$2.42M – $3.23M
NOI $193,956 @ 7.0% cap · market cap 10.24%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Shopping centers
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FAQs
What type of property is this?
Shopping center - For sale shopping center offering 7,600 SF of available space plus additional land behind the center.
Where is this shopping center located?
The property is located at 41560 - 41660 Garfield Road Clinton Township, MI.
What is the asking price?
The asking price for this property is $1,895,000.
What are key features of this property?
This property features: Approximately 7,600 SF available retail/tenant space (5,200 SF and 2,400 SF).; Flat roof and forced‑air heating.; Public water service and parking lot parking.
