Highland Park Liquor Store
For Sale
Contact for pricing
11744 Woodward Ave, Highland Park, MI 48203
Liquor store for sale or lease in Highland Park.
Property Size4,125 SF
Price / SF$266.67
Days on Market1371
Property Features for 11744 Woodward Ave
General Information
Standard status
Active
Size
4,125 SF
Property subtype
Retail
Zoning
201 Commercial
Listing Agency:
Signature Associates Warren
(248) 359-0615
Listed By:
Joe Stack · License #MI
Source:
Crexi
Added: Nov 10, 2022
Changed: Aug 8
Last Checked: Aug 11 at 5:46AM
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 Signature Associates Warren
Investment Insights
Based on property information with market context.
A liquor store is available for sale or lease. The property includes a liquor license. Inventory is sold separately. The property size is 4125 square feet.
Key Highlights
- Liquor license in place
- Liquor store available for sale
- Liquor store available for lease
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
$53,460
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
4.86%
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%
$1,069,200
$1.1M
Cap Rate 7%
$763,714
$763.7K
Cap Rate 9%
$594,000
$594.0K
Market Conditions
NOI Build-Up for 4,125 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
$74.3K $18.00/SF
− Vacancy
−$3.0K −$0.72/SF
EGI
$71.3K $17.28/SF
− OpEx
−$17.8K −$4.32/SF
NOI
$53.5K $12.96/SF
Area
Wayne County, MI
Vacancy
4.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,069,200
Cap Rate 7%
$763,714
Cap Rate 9%
$594,000
Alternative Uses
Best Use
Specialty Retail
$763.7K
$668.3K – $891.0K
NOI $53,460 @ 7.0% cap · market cap 4.86%
Second Best
Retail
$558.4K
$488.6K – $651.4K
NOI $39,085 @ 7.0% cap · market cap 3.55%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
384
Businesses Nearby
18k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 90%
Home Improvements & Furnishings 5%
Electronics 4%
Family Dollar
Shops & Services
5,259 visits/mo
0.0 miles
Sunoco
Shops & Services
3,840 visits/mo
0.3 miles
BP
Shops & Services
3,313 visits/mo
0.3 miles
AutoZone
Shops & Services
2,718 visits/mo
0.4 miles
Chase Bank
Shops & Services
1,000 visits/mo
0.2 miles
Demographics for 48203, MI
22,168
Population
13,591
Households
1.6
Avg Household Size
39
Median Age
19%
College-Educated
85%
High-School Grad
8.2 sq mi
ZIP Area
2,703
Density / Sq Mi
$35,108
Median Household Income
$28,364
Median Earnings
$799
Median Rent
$76,100
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Liquor store for sale or lease in Highland Park.
Where is this grocery and convenience store located?
The property is located at 11744 Woodward Ave Highland Park, MI.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Liquor license in place; Liquor store available for sale; Liquor store available for lease
