Main Street Storefront
For Sale
$1,120,000
105 West Huron Street, Milford, MI 48381
Unique storefront in downtown Milford, suitable for retail or restaurant.
Property Size5,135 SF
Price / SF$218.11
Days on Market150
Property Features for 105 West Huron Street
General Information
Standard status
Active
Size
5,135 SF
Property subtype
Retail
Listing Agency:
(248) 351-2063
Listed By:
Chuck Ginster
(248) 351-2063
Source:
Cbre
Added: Mar 25
Changed: Aug 10
Last Checked: Aug 20 at 12:22PM
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 Chuck Ginster
Investment Insights
Based on property information with market context.
This unique storefront property is located on Main Street in downtown Milford. Zoned B-3, the property is suitable for many possible retail uses and has potential for restaurant and carry-out businesses. The property offers an opportunity for investors or owner-occupiers. The current lease expires in August 2025. The property size is 5135 square feet.
Key Highlights
- Prime Main Street storefront location in downtown Milford.
- B‑3 zoning allows for diverse retail uses.
- Potential for restaurant or carry‑out business.
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
$55,255
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
4.93%
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%
$1,105,100
$1.1M
Cap Rate 7%
$789,357
$789.4K
Cap Rate 9%
$613,944
$613.9K
Market Conditions
NOI Build-Up for 5,135 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
$86.3K $16.80/SF
− Vacancy
−$7.3K −$1.43/SF
EGI
$78.9K $15.37/SF
− OpEx
−$23.7K −$4.61/SF
NOI
$55.3K $10.76/SF
Area
Oakland County, MI
Vacancy
8.50%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
30.00%
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%
$1,105,100
Cap Rate 7%
$789,357
Cap Rate 9%
$613,944
Alternative Uses
Best Use
Retail
$789.4K
$690.7K – $920.9K
NOI $55,255 @ 7.0% cap · market cap 4.93%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.11M
$969.1K – $1.29M
NOI $77,530 @ 7.0% cap · market cap 6.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
634
Businesses Nearby
22k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 54%
Dining 39%
Beauty & Spa 8%
Taco Bell
Dining
8,523 visits/mo
0.4 miles
Dollar Tree
Shops & Services
7,455 visits/mo
0.5 miles
5/3rd Bank
Shops & Services
3,041 visits/mo
0.4 miles
Great Clips
Beauty & Spa
1,697 visits/mo
0.5 miles
Flagstar Bank
Shops & Services
1,371 visits/mo
0.5 miles
Demographics for 48381, MI
13,794
Population
5,588
Households
2.5
Avg Household Size
45
Median Age
45%
College-Educated
96%
High-School Grad
19.5 sq mi
ZIP Area
707
Density / Sq Mi
$103,156
Median Household Income
$61,929
Median Earnings
$1,146
Median Rent
$386,800
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- The Village Florist — 401 N Main St, Milford, MI 48381
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- Kroger Floral — 670 Highland Ave, Milford, MI 48381
- Art of Plants — 204 S Main St, Milford Charter Twp, MI 48381
Frequently Asked Questions
What type of property is this?
Storefront property - Unique storefront in downtown Milford, suitable for retail or restaurant.
Where is this storefront property located?
The property is located at 105 West Huron Street Milford, MI.
What is the asking price?
The asking price for this property is $1,120,000.
What are key features of this property?
This property features: Prime Main Street storefront location in downtown Milford.; B‑3 zoning allows for diverse retail uses.; Potential for restaurant or carry‑out business.
