Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    5038 Highland Rd Waterford, MI 48327

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail space available in Waterford Plaza at M-59 & Crescent.

    Property size:
    3,455 SF
    Lot size:
    11.98 Acres

    Property Features for 5038 Highland Rd

    General Information

    Size
    3,455 SF
    Lot size
    11.98 Acres

    We can help!

    Listing Contact
    Andrew Luckoff
    Source: Moodyscre

    Listing Agent: Andrew Luckoff

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Retail Space in Waterford Plaza

    This retail space is located in Waterford Plaza, situated at the intersection of M-59 and Crescent Boulevard. The property, formerly a Chiropractic Clinic, is a second-generation space positioned between Planet Fitness and Five Below. The available space measures 3,455 square feet. A pylon panel is available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Strip malls

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Waterford
    County
    Oakland
    State
    Michigan
    Longitude
    -83.3866918
    Latitude
    42.6606562

    Nearby Similar for Lease

    • $1,350 /Mo
      5,985 SF

      Renovated Commercial Building in Waterford

      Renovated commercial building with high visibility and ample parking.
      2701 Elizabeth Lake Rd, Waterford, MI 48328
      View Details
    • $1,700 /Mo
      1,200 SF

      Retail Space in Lakeview Plaza

      1,200 SF retail suite available for lease in Waterford.
      5574 Cooley Lake Rd, Waterford, MI 48327
      View Details
    • $1,750 /Mo
      1,480 SF

      Retail Unit in Waterford Township

      Commercial retail space for lease, suitable for various businesses.
      1060 W Huron St, Waterford, MI 48328
      View Details
    • $6,500 /Mo
      13,000 SF

      Waterford Commercial Space For Lease

      13,000 sq ft commercial space ideal for various businesses.
      2523 Elizabeth Lake Rd, Waterford, MI 48328
      View Details
    • $1,350 /Mo
      5,985 SF

      Renovated Commercial Building in Waterford

      Renovated commercial building with high visibility and ample parking.
      2701 Elizabeth Lake Rd, Waterford, MI 48328
      View Details
    • $2,000 /Mo
      1,480 SF

      Retail Unit in Waterford Township

      Commercial retail space for lease, suitable for various businesses.
      1058 W Huron St, Waterford, MI 48328
      View Details
    • $1,350 /Mo
      5,985 SF

      Renovated Commercial Building in Waterford

      Renovated commercial building with high visibility and ample parking.
      2701 Elizabeth Lake Rd, Waterford, MI 48328
      View Details
    • $1,200 /Mo
      635 SF

      Remodeled Office Suite in Waterford

      Move-in ready office suite with private offices and ample parking.
      1362 W Huron St, Waterford, MI 48328
      View Details
    • $450 /Mo
      1,092 SF

      Waterford Office Space For Rent

      Office space with high visibility on M-59 in Waterford.
      6695 Highland Rd, Waterford, MI 48327
      View Details
    • $550 /Mo
      156 SF

      Waterford Office Space For Rent

      Office space for rent with utilities included and 24/7 access.
      6695 Highland Rd, Waterford, MI 48327
      View Details
    • New
      $2,200 /Mo
      5,081 SF

      Renovated Office Space Available

      Fully renovated and furnished Class B office space for rent.
      1362 W Huron St, Waterford, MI 48328
      View Details
    • $500 /Mo
      110 SF

      Office Space with Shared Suite

      Private office space available with shared suite in Waterford.
      1362 W Huron St, Waterford, MI 48328
      View Details

    FAQs

    What type of property is this?
    Strip mall - Retail space available in Waterford Plaza at M-59 & Crescent.
    Where is this strip mall located?
    The property is located at 5038 Highland Rd Waterford, MI.
    What are key features of this property?
    This property features: - Rare vacancy in highly sought-after Waterford Plaza.; - Located at the busy intersection of M-59 & Crescent Blvd.; - 2nd Generation space, former Chiropractic Clinic.
    (248) 488-2620
    Request Owner's contact information
    5038 Highland Rd Waterford, MI 48327
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    5038 Highland Rd
    Waterford, MI 48327
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    5038 Highland Rd Waterford, MI 48327
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Andrew Luckoff
    (248) 488-2620
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.