High-Visibility Commercial Space on 9
For Sale
Contact for pricing
Pending
10160 w 9 mile, Oak Park, MI 48237
5,088 SF commercial space on 9 Mile Road.
Property Size5,088 SF
Days on Market427
Property Features for 10160 w 9 mile
General Information
Standard status
Pending
Size
5,088 SF
Property subtype
Business for Sale, Office, Retail, Senior Living, Special Purpose
Investment Type
Owner/User
Building Details
Year Built
1965
Year Renovated
2025
Listing Agency:
Realty ONE Group Excel
Listed By:
Mohammad Salim · License #475.206331
Source:
Crexi
Added: Jun 20, 2025
Changed: Aug 12
Last Checked: Aug 20 at 4:22PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Realty ONE Group Excel
Investment Insights
Based on property information with market context.
This 5,088 square foot commercial space is located on 9 Mile Road, a high-traffic main street. The property offers high visibility and signage opportunities. It is suited for various uses including childcare, educational centers, medical offices, fitness studios, retail, or professional services. Potential business uses include daycare, warehouse, animal hospital, janitorial supplies, convenience store, auto parts store, senior care facility, and medical supplies. The layout includes multiple large rooms, restrooms, office areas, and flexible open space. The building is well-maintained and has existing infrastructure for childcare or education. Ample on-site parking is available. The property is surrounded by residential neighborhoods and local businesses and is zoned for multiple commercial uses.
Key Highlights
- 5,088 SF commercial space on high‑traffic 9 Mile Rd.
- Excellent visibility and signage opportunities.
- Suitable for diverse businesses: daycare, retail, medical, etc.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$30,611
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.38%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$612,220
$612.2K
Cap Rate 7%
$437,300
$437.3K
Cap Rate 9%
$340,122
$340.1K
Market Conditions
NOI Build-Up for 5,088 SF
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.
Gross rent
$37.4K $7.35/SF
− Vacancy
−$1.4K −$0.27/SF
EGI
$36.0K $7.08/SF
− OpEx
−$5.4K −$1.06/SF
NOI
$30.6K $6.02/SF
Area
Oakland County, MI
Vacancy
3.70%
Lease Rate
$7.35 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$612,220
Cap Rate 7%
$437,300
Cap Rate 9%
$340,122
Alternative Uses
Best Use
Retail
$782.1K
$684.4K – $912.5K
NOI $54,749 @ 7.0% cap · market cap 11.41%
Second Best
Warehouse
$437.3K
$382.6K – $510.2K
NOI $30,611 @ 7.0% cap · market cap 6.38%
Theoretical Best
Specialty Retail
$1.10M
$960.3K – $1.28M
NOI $76,821 @ 7.0% cap · market cap 16.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
464
Businesses Nearby
Explore this area
Business Placement
Demographics for 48237, MI
29,560
Population
13,036
Households
2.3
Avg Household Size
38
Median Age
39%
College-Educated
93%
High-School Grad
5.1 sq mi
ZIP Area
5,796
Density / Sq Mi
$65,882
Median Household Income
$44,992
Median Earnings
$1,354
Median Rent
$198,500
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - 5,088 SF commercial space on 9 Mile Road.
Where is this retail space located?
The property is located at 10160 w 9 mile Oak Park, MI.
What is the asking price?
The asking price for this property is $479,999.
What are key features of this property?
This property features: 5,088 SF commercial space on high‑traffic 9 Mile Rd.; Excellent visibility and signage opportunities.; Suitable for diverse businesses: daycare, retail, medical, etc.
