Add Listing
    For Lease
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    117 W 4th St Royal Oak, MI 48067

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Prime retail location in the heart of downtown Royal Oak.

    Type:Retail
    Property size:
    15,000 SF
    Added:
    Jan 27, 2026
    Days on Market:
    94
    Last Refresh:
    Apr 5 at 11:02 pm

    Property Features for 117 W 4th St

    General Information

    Standard status
    Active
    Size
    15,000 SF
    Property subtype
    Retail

    Building Details

    Year Built
    1922

    Spaces For Lease

    at 117 W 4th St Contact us

    We can help!

    Listing Contact
    Rick Ax

    Listing agent Rick Ax

    Listing office

    Listing date Jan 27, 2026

    Source Naiglobal

    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 Rick Ax

    Overview

    Downtown Royal Oak Retail Space

    Located in downtown Royal Oak, Michigan, this retail space offers high visibility on W 4th Street. The property features an accessible elevator for tenant convenience and ample area parking for employees and clients. The building is in close proximity to dining and amenities. The property has a size of 15000 square feet and is available for purchase.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    The Hastings Injury Law ... Law Firm Young Insurance Law Law Firm The McManus Firm Law Firm Pitt, McGehee, Palmer, ... Law Firm Curewell IV HAUS Spa & Massage Center

    Suggested Use

    Restaurant Law Firm Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Royal Oak
    County
    Oakland
    State
    Michigan
    Longitude
    -83.1449
    Latitude
    42.487

    Nearby Similar for Lease

    • $3,000/Mo

      Royal Oak Flex Space Available

      Renovated flex building with office, workshop, and garage door.
      1219 E 11 Mile Road, Royal Oak, MI 48067
      View Details
    • $2,700/Mo

      Downtown Royal Oak Office Space

      Classy 1220 SF office in the heart of Royal Oak.
      417 E 4th Street, Royal Oak, MI 48067
      View Details
    • $5,282/Mo

      Royal Oak Commercial Sublease Opportunity

      Prime commercial space in downtown Royal Oak, suitable for various businesses.
      404 E 4th Street, Royal Oak, MI 48067
      View Details
    • $9,277/Mo

      Royal Oak Commercial Space Available

      Prime commercial space in Royal Oak's Social District.
      423 S Washington Avenue, Royal Oak, MI 48067
      View Details
    • Contact for pricing

      Remodeled Office Building in Royal Oak

      Freestanding, remodeled office building with finished basement in downtown Royal Oak.
      909 N MAIN St, Royal Oak, MI 48067
      View Details
    • $2,500/Mo

      Downtown Royal Oak Commercial Space

      Renovated commercial space in downtown Royal Oak with private parking.
      1103 S Washington Ave, Royal Oak, MI 48067
      View Details
    • $32,356 SF/Yr

      Royal Oak Industrial Warehouse Space

      55,467 SF industrial warehouse with multiple bays and docks.
      2020 Bellaire Avenue, Royal Oak, MI 48067
      View Details
    • Contact for pricing

      Renovated Royal Oak Flex Building

      1853 SF renovated building with office, workshop, and garage.
      1219 E 11 Mile Rd, Royal Oak, MI 48067
      View Details
    • $3,406/Mo

      Renovated Retail Space Near Hospital

      Completely renovated retail space with high exposure near Beaumont Hospital.
      30118 WOODWARD Ave, Royal Oak, MI 48073
      View Details
    • Sponsored
      Contact for pricing

      MI, Royal Oak - Main Street

      418 Main St, Unit 1ST, Royal Oak, MI 48067
      View Details
    • Contact for pricing

      Industrial Warehouse with Executive Office

      55,467 SF warehouse with office space and multiple docks.
      2020 Bellaire Ave, Royal Oak, MI 48067
      View Details
    • $2,979/Mo

      Downtown Royal Oak Office Space

      2,979 SF office space in downtown Royal Oak.
      209 W 6th St, Royal Oak, MI 48067
      View Details

    FAQs

    What type of property is this?
    Retail property - Prime retail location in the heart of downtown Royal Oak.
    Where is this retail property located?
    The property is located at 117 W 4th St Royal Oak, MI.
    What are key features of this property?
    This property features: Prime Location in Downtown Royal Oak, MI; High Visibility on W 4th St; Ample Area Parking for Employees and Clients
    (248) 351-6319
    We can help!
    Listing Contact
    Rick Ax
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry

    117 W 4th St, Royal Oak, MI 48067

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!