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    The Largest CRE Database in the US with Over 1 Million Listings

    601 N Main St Royal Oak, MI 48067

    Sponsored
    For Lease
    $2,500 /Mo ($8 SF/Yr)

    Real Estate Only - Royal Oak, MI

    Property size:
    3,598 SF
    Lot size:
    0.21 Acres
    Days on Market:
    9
    Last Refresh:
    Jan 24 at 4:06 pm

    Property Features for 601 N Main St

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Commercial
    APN
    2516432006
    Size
    3,598 SF
    Lot size
    0.21 Acres

    Building Details

    Year built
    1928
    Year renovated
    2021
    Building materials
    Brick
    Architectural style
    Other

    We can help!

    Listing Contact
    Joseph Venditti

    Sine & Monaghan Realros Real Living Llc (313) 884-1414

    Listing agent Joseph Venditti (248) 549-7400

    Listing date Jan 16, 2026

    MLS# 20261003343 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.

    Learn more

    Property Insight Report

    Overview

    Downtown Royal Oak Retail Space

    This retail space is located on Main Street in Downtown Royal Oak, positioning any brand at the center of a dynamic and walkable corridor. The location is near Centennial Commons, a central green space that hosts live music, festivals, and daily pedestrian traffic, as well as the Royal Oak Farmers Market, which attracts visitors with weekly markets, antiques shows, weddings, and monthly Food Truck Rallies. Royal Oak also hosts the Woodward Dream Cruise, which brings nearly 1 million visitors in a single weekend. Main Street has Walk Scores in the 90s, ensuring pedestrian activity. The property offers access to I-75, I-696, and Woodward Ave, plus nearby SMART bus routes, expanding reach to local residents and regional visitors, including the Detroit Zoo. New development continues in the area. Bianchi Flats at 723 N Main, featuring 24 residential units, will add new customers nearby, while the 118 N Main redevelopment at Main & 11 Mile is reactivating the historic Main Art marquee and adding mixed-use energy to the district. The property is suitable for flagship retail looking to capture both steady daily customers and event-driven surges. The property size is 3598 square feet and the lot size is 0.21 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    De'Twah Luxury Eyewear Optician C & J Hammer ... Underwear Store Red Door Realty: ... Real Estate Agent

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Royal Oak
    County
    Oakland
    State
    Michigan
    Longitude
    -83.1449415
    Latitude
    42.4940685

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    FAQs

    What type of property is this?
    Retail space - High-visibility retail space in downtown Royal Oak near Centennial Commons.
    Where is this retail space located?
    The property is located at 601 N Main St Royal Oak, MI.
    What is the lease rate?
    The lease rate is $8 SF/Yr.
    What are key features of this property?
    This property features: - Prime retail space on Main Street in Downtown Royal Oak with high visibility.; - Located steps from Centennial Commons, Royal Oak Farmers Market, and other attractions, ensuring consistent foot traffic.; - Benefits from the Woodward Dream Cruise, attracting nearly 1 million visitors.
    (313) 806-3423
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    601 N Main St Royal Oak, MI 48067
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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
    601 N Main St Royal Oak, MI 48067
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    We can help!
    Listing Contact
    Joseph Venditti
    (313) 806-3423
    Learn more
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