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

    23001 Coolidge Hwy Oak Park, MI 48218

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $11 SF/Yr ($2,119 /Mo)

    Retail space available in high-traffic Oak Park Plaza.

    Property size:
    2,312 SF
    Lot size:
    8.99 Acres

    Property Features for 23001 Coolidge Hwy

    General Information

    Size
    2,312 SF
    Lot size
    8.99 Acres

    We can help!

    Listing Contact
    Ryan Kattoo
    Source: Moodyscre

    Listing Agent: Ryan Kattoo

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

    Learn more

    Property Insight Report

    Overview

    Oak Park Plaza Retail Space

    Located at the northwest corner of 9 Mile Road and Coolidge Highway, Oak Park Plaza is a shopping destination with high traffic volumes. Coolidge Highway sees over 26,000 vehicles per day, and 9 Mile Road sees more than 16,000. The plaza features a mix of shops, restaurants, and businesses. Co-tenants include CVS, O'Reilly Auto Parts, For Kids Only, Family Dollar, SVS Vision, and Happy's Pizza. The available retail space measures 2,312 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Strip malls

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Oak Park
    County
    Oakland
    State
    Michigan
    Longitude
    -83.1831308
    Latitude
    42.4608075

    Nearby Similar for Lease

    • $1,750 /Mo
      12,000 SF

      Prime Medical/Office Space Available

      Office space for rent near major roads and Providence Hospital.
      23350 Greenfield Rd, Oak Park, MI 48237
      View Details
    • $13 SF/Yr
      7,930 SF

      Oak Park Retail Opportunity

      Former plasma center in dense, high-traffic Oak Park location.
      13770 W 9 Mile Rd, Oak Park, MI
      View Details
    • $15 SF/Yr
      1,400 SF

      Oak Park Executive Office Space

      1,400 SF Office, Fully Vacant
      14935 11 Mile Rd, Oak Park, MI 48072
      View Details
    • $9 SF/Yr
      78,478 SF

      Oak Park Office/Warehouse Complex

      78,478 SF Multi-Use Space Available
      13250 Northend Ave, Oak Park, MI 48237
      View Details
    • $14 SF/Yr
      36,837 SF

      Prime Office Space For Lease

      Office space for lease with excellent signage and accessibility.
      20820 Greenfield Rd, Oak Park, MI 48237
      View Details
    • Contact for pricing
      10,000 SF

      Greenfield Road Retail Space

      Oak Park, MI: 10,000 SF Retail Space
      23300 Greenfield Rd, Oak Park, MI 48237
      View Details
    • $10 SF/Yr
      198,000 SF

      Greenfield Plaza: Office & Retail Space

      Prime Oak Park commercial space, flexible layouts.
      21700 Greenfield Rd, Oak Park, MI 48237
      View Details
    • Contact for pricing
      17,500 SF

      Prime Oak Park Executive Suites

      Modern Office Space, Flexible Lease Options
      21790 Coolidge Hwy, Oak Park, MI 48237
      View Details
    • $25,200
      2,645 SF

      Oak Park Retail Space For Lease

      Prime Oak Park storefront, 1,515 sq ft available.
      26001 Coolidge Hwy, Oak Park, MI 48237
      View Details
    • $13 SF/Yr
      4,967 SF

      West 9 Mile Rd Retail Center

      Two Suites Available, Prime Location
      10800 Nine Mile Rd, Oak Park, MI 48237
      View Details
    • $12 SF/Yr
      33,814 SF

      Coolidge Park Plaza Medical Office

      Oak Park medical office space for lease.
      23100-23300 Coolidge Hwy, Oak Park, MI 48237
      View Details
    • $12 SF/Yr
      2,100 SF

      New Construction Flex Space

      New construction flex space with drive-thru capability and fenced yard.
      8 Mile Rd, Oak Park, MI
      View Details

    FAQs

    What type of property is this?
    Strip mall - Retail space available in high-traffic Oak Park Plaza.
    Where is this strip mall located?
    The property is located at 23001 Coolidge Hwy Oak Park, MI.
    What is the lease rate?
    The lease rate is $11 SF/Yr.
    What are key features of this property?
    This property features: - Prime location on the Northwest corner of 9 Mile and Coolidge Highway.; - High traffic counts: Over 26,000 vehicles per day on Coolidge Highway and over 16,000 on 9 Mile Road.; - Strong co-tenancy with well-known brands such as CVS, O'Reilly Auto Parts, Family Dollar, and Happy's Pizza.
    (248) 406-7112
    Request Owner's contact information
    23001 Coolidge Hwy Oak Park, MI 48218
    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.
    23001 Coolidge Hwy
    Oak Park, MI 48218
    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
    23001 Coolidge Hwy Oak Park, MI 48218
    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
    Ryan Kattoo
    (248) 406-7112
    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.