Multi-Tenant Retail & Restaurant
For Sale
Contact for pricing
106 S Main St, Royal Oak, MI 48067
Fully occupied mixed-use building with restaurant and service-oriented tenants and extended leases along Main Street.
Property Size10,832 SF
Price / SF$361.88
Days on Market117
Property Features for 106 S Main St
General Information
Standard status
Active
Size
10,832 SF
Property subtype
RETAIL
Occupancy
100%
Additional Details
Traffic Count
20,353 vehicles/day
Building Details
Tenancy
Multi
Listing Agency:
AQRE Advisors
(248) 776-6001
Listed By:
Jon Kouza
Source:
Moodyscre
Added: Jul 1
Changed: Oct 14
Last Checked: Oct 24 at 8:30PM
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 AQRE Advisors
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This is a multi-tenant mixed-use retail and restaurant building offered for sale, with a diversified tenant mix that includes restaurant and service-oriented users. The property is 100% occupied, and multiple tenants have extended leases in place, reflecting long-term commitment to the site.
The building is located in the heart of downtown Royal Oak on Main Street, with frontage along a roadway reported at 20,353 VPD. This positioning places the property within a high-activity walkable district featuring national retailers, restaurants, nightlife, and daily-needs destinations.
With tenants already in place, the asset is presented as a stabilized, in-place income opportunity in a high-demand Oakland County submarket, with annual increases referenced in the offering remarks.
The building is located in the heart of downtown Royal Oak on Main Street, with frontage along a roadway reported at 20,353 VPD. This positioning places the property within a high-activity walkable district featuring national retailers, restaurants, nightlife, and daily-needs destinations.
With tenants already in place, the asset is presented as a stabilized, in-place income opportunity in a high-demand Oakland County submarket, with annual increases referenced in the offering remarks.
Key Highlights
- Fully occupied multi‑tenant mixed‑use building with restaurant and service‑oriented tenants
- Located on Main Street with reported traffic of 20,353 VPD
- Diversified tenant mix including restaurant and service‑oriented users
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$116,557
Cap Rate
2.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,331,140
$2.3M
Cap Rate 7%
$1,665,100
$1.7M
Cap Rate 9%
$1,295,078
$1.3M
Market Conditions
NOI Build-Up for 10,832 SF
Gross rent
$182.0K $16.80/SF
− Vacancy
−$15.5K −$1.43/SF
EGI
$166.5K $15.37/SF
− OpEx
−$50.0K −$4.61/SF
NOI
$116.6K $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 Rate 5%
$2,331,140
Cap Rate 7%
$1,665,100
Cap Rate 9%
$1,295,078
Alternative Uses
Best Use
Retail
$1.67M
$1.46M – $1.94M
NOI $116,557 @ 7.0% cap · market cap 2.97%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.34M
$2.04M – $2.73M
NOI $163,546 @ 7.0% cap · market cap 4.17%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
20,353 VPD
Traffic count
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,695
Businesses Nearby
84k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 46%
Dining 44%
Home Improvements & Furnishings 5%
Hotels & Casinos 5%
McDonald's
Dining
23,754 visits/mo
0.2 miles
Shell
Shops & Services
8,366 visits/mo
0.1 miles
Chipotle Mexican Grill
Dining
7,536 visits/mo
0.1 miles
Fifth Third Bank & ATM
Shops & Services
7,078 visits/mo
0.4 miles
Citizens Bank
Shops & Services
6,596 visits/mo
0.0 miles
Demographics for 48067, MI
24,589
Population
13,714
Households
1.8
Avg Household Size
36
Median Age
67%
College-Educated
96%
High-School Grad
4.6 sq mi
ZIP Area
5,345
Density / Sq Mi
$107,355
Median Household Income
$76,700
Median Earnings
$1,435
Median Rent
$309,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - Fully occupied mixed-use building with restaurant and service-oriented tenants and extended leases along Main Street.
Where is this retail space located?
The property is located at 106 S Main St Royal Oak, MI.
What is the asking price?
The asking price for this property is $3,919,881.
What are key features of this property?
This property features: Fully occupied multi‑tenant mixed‑use building with restaurant and service‑oriented tenants; Located on Main Street with reported traffic of 20,353 VPD; Diversified tenant mix including restaurant and service‑oriented users
