Multi-Tenant Retail
For Sale
$2,600,000
1052 – 1072 W Huron Street, Waterford, MI 48328
Multi-tenant retail asset is 100% occupied with stable tenancy and prominent visibility along a high-traffic corridor.
Property Size21,345 SF
Price / SF$121.81
Days on Market61
Property Features for 1052 – 1072 W Huron Street
General Information
Standard status
Active
Size
21,345 SF
Property subtype
Retail
Occupancy
100%
Additional Details
Cap Rate
7.8%
Highway Access
Yes
Building Details
Tenancy
Multi
Listing Agency:
(248) 324-2000
Listed By:
Josh Miller
Source:
Friedmanrealestate
Added: Jun 2
Changed: Jul 10
Last Checked: Aug 1 at 5:03AM
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 Josh Miller
Investment Insights
Based on property information with market context.
This multi-tenant retail center totals 21,345 SF and is currently 100% occupied, supported by stable tenancy in a low-vacancy market. The property features a diverse, service-oriented tenant mix designed for everyday demand and consistent foot traffic within a retail-oriented setting. Additional value is highlighted through the potential to convert existing gross leases to NNN structure, supporting an indicated NOI of approximately $230,000 at a stated 7.8% cap rate.
The center benefits from visible presence along M-59, a high-traffic commercial corridor serving the Waterford, MI area. Remarks also note dense rooftops and strong surrounding demographics, factors that typically support retention and leasing demand for neighborhood and service-focused retail. This combination of location and occupancy is positioned to appeal to investors seeking steadier income from an established retail mix.
For buyers and investors, the property offers an immediately leased retail platform with an occupancy level that can reduce near-term leasing risk. Tenant operators may also find the center attractive given its established tenancy and service-oriented orientation. The NNN conversion upside provides a clear path to potentially improving operating efficiency and long-term cash flow characteristics.
The center benefits from visible presence along M-59, a high-traffic commercial corridor serving the Waterford, MI area. Remarks also note dense rooftops and strong surrounding demographics, factors that typically support retention and leasing demand for neighborhood and service-focused retail. This combination of location and occupancy is positioned to appeal to investors seeking steadier income from an established retail mix.
For buyers and investors, the property offers an immediately leased retail platform with an occupancy level that can reduce near-term leasing risk. Tenant operators may also find the center attractive given its established tenancy and service-oriented orientation. The NNN conversion upside provides a clear path to potentially improving operating efficiency and long-term cash flow characteristics.
Key Highlights
- ±21,345 SF multi‑tenant retail center in Waterford, MI
- 100% occupied with stable tenancy and low‑vacancy market positioning
- Prominent visibility along M‑59, a high‑traffic commercial corridor
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 | $358.6k | $16.80 |
| − Vacancy | −$30.5k | −$1.43 |
| EGI | $328.1k | $15.37 |
| − OpEx | −$98.4k | −$4.61 |
| NOI | $229.7k | $10.76 |
21,345 SF · lease $16.80/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$3.28M
$2.87M – $3.83M
NOI $229,681 @ 7.0% cap · market cap 8.83%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.60M
$4.03M – $5.37M
NOI $322,275 @ 7.0% cap · market cap 12.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
599
Businesses Nearby
53k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 50%
Shops & Services 45%
Apparel 3%
Electronics 2%
Taco Bell
Dining
9,768 visits/mo
0.4 miles
BP
Shops & Services
7,937 visits/mo
0.5 miles
Arby's
Dining
7,157 visits/mo
0.4 miles
Buscemi's
Dining
4,860 visits/mo
0.3 miles
Applebee's
Dining
4,616 visits/mo
0.3 miles
Demographics for 48328, MI
24,178
Population
11,938
Households
2
Avg Household Size
43
Median Age
27%
College-Educated
93%
High-School Grad
8.9 sq mi
ZIP Area
2,717
Density / Sq Mi
$69,788
Median Household Income
$42,084
Median Earnings
$1,041
Median Rent
$210,800
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Oakland Pointe Shopping Center — Telegraph Rd, Pontiac, MI 48341
- Colony Square — Waterford Twp, MI 48328
Frequently Asked Questions
What type of property is this?
Shopping center - Multi-tenant retail asset is 100% occupied with stable tenancy and prominent visibility along a high-traffic corridor.
Where is this shopping center located?
The property is located at 1052 – 1072 W Huron Street Waterford, MI.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: ±21,345 SF multi‑tenant retail center in Waterford, MI; 100% occupied with stable tenancy and low‑vacancy market positioning; Prominent visibility along M‑59, a high‑traffic commercial corridor
