2515 Union Lake Rd Commerce Township, MI 48382
Well-maintained 2,860 SF commercial property in high-traffic area.
Property Features for 2515 Union Lake Rd
General Information
- Standard status
- Active
- Size
- 2,860 SF
- Lot size
- 0.22 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1940
Listing office M77 LLC (586) 663-0473
Listing date Mar 10, 2026
Source Elliman
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 M77 LLC
Investment Insights
Based on property information with market context.
Key Highlights
- High‑visibility location in the heart of Union Lake with phenomenal traffic flow.
- Well‑maintained, 2,860 square foot commercial space.
- Turnkey opportunity requiring minimal changes.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $48.0k | $16.80 |
| − Vacancy | −$4.1k | −$1.43 |
| EGI | $44.0k | $15.37 |
| − OpEx | −$13.2k | −$4.61 |
| NOI | $30.8k | $10.76 |
