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    5900 Highland Road Waterford, MI 48327

    View on Map
    For Sale
    $4,600,000

    COMMERCIAL - Waterford, MI

    Type:Retail
    Property size:
    49,434 SF
    Lot size:
    7.28 Acres
    Added:
    Nov 1, 2024
    Days on Market:
    517
    Last Refresh:
    Apr 1 at 5:06 am

    Property Features for 5900 Highland Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Bathrooms
    4
    Rooms
    Bathroom 3, Bathroom 4, Bathroom 2, Bathroom 1
    Parking
    1500
    Standard status
    Active
    APN
    13-16-352-020
    Size
    49,434 SF
    Lot size
    7.28 Acres

    Taxes and HOA fees

    TaxYear
    2024
    TaxDescription
    T3N, R9E, SEC 16 PART OF SW 1/4 BEG AT PT DIST E 233 FT FROM SW SEC COR, TH E 397.75 FT, TH N 00-13-00 E 790 FT, TH...
    TaxAnnualAmount
    64968

    Utilities

    Heating system
    Forced Air, Radiant
    Cooling system
    Central Air

    Building Details

    Year built
    1993
    Floors in Building
    1
    Number of units
    1
    Building materials
    Block, Brick, Metal Siding
    Roof type
    Rubber

    We can help!

    Listing Contact
    Jennifer Lasco
    Jennifer Lasco

    Listing agent Jennifer Lasco License #6502402604

    Listing office Lasco Real Estate Group 101 N Adelaide, Fenton, MI

    Listing date Nov 1, 2024

    MLS# 24058004

    Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Renovated Commercial Building on Highland

    This commercial property, located in Waterford, MI, features a 49,434 square-foot building constructed in 1972 and fully renovated in 2023. Situated on approximately 7.5 acres of land, the property consists of two parcels, one 6.359 acres and the other 0.918 acres. The front portion of the building has been previously used as an automotive dealership sales area. It is suitable for businesses needing retail store frontage or client services, and includes private offices for management. The property is partially leased, with just under 20% of the space currently under lease through June 30, 2029. The owner may consider a NNN lease in place of a fee simple sale.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Automotive properties

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Avis Car Rental — ADI Hangar 2, 6544 Highland Rd, Waterford Twp, MI 48327
    • Enterprise Rent-A-Car — 6175 Highland Rd, Waterford Twp, MI 48327
    • Car Rental Waterford — 6510 highland rd, waterford twp, mi 48327
    • U-Haul Neighborhood Dealer — 5684 Highland Rd, Waterford Twp, MI 48327, United States
    • Hertz Car Rental - Maven By Midfield (private Flights Only) — 6544 Highland Rd, Waterford Twp, MI 48327

    Location Insight

    • Map
    • Local Demand
    City
    Waterford
    County
    Oakland
    State
    Michigan
    Longitude
    -83.404387
    Latitude
    42.661041

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    FAQs

    What type of property is this?
    Automotive property - 49,434 SF building on 7.5 acres, renovated in 2023.
    Where is this automotive property located?
    The property is located at 5900 Highland Road Waterford, MI.
    What is the asking price?
    The asking price for this property is $4,600,000.
    What are key features of this property?
    This property features: Fully renovated in 2023.; **Large building space: 49,434 square feet.**; Sits on just under 7.5 acres of land.
    (248) 840-6059
    We can help!
    Listing Contact
    Jennifer Lasco
    Jennifer Lasco
    Real Estate License ID: 6502402604
    Learn More
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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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