Versatile Commercial Building on Cooley
For Sale
$1,300,000
7570 Cooley Lake Rd, Waterford, MI 48327
Adaptable commercial asset in a thriving growth market.
Property Size14,800 SF
Lot Size1.00 Acre
Price / SF$108.33
Days on Market129
Property Features for 7570 Cooley Lake Rd
General Information
Standard status
Active
Size
14,800 SF
Lot size
1.00 Acre
Property subtype
Commercial
Building Details
Building Size
14,800 SF
Year Built
1972
Listing Agency:
Berkshire Hathaway HomeServices Michigan Real Est
(810) 695-1990
Listed By:
Julie Wyland · License #6501425953
(810) 695-1990
Source:
Elliman
Added: Apr 15
Changed: Aug 16
Last Checked: Aug 21 at 11:43AM
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 Berkshire Hathaway HomeServices Michigan Real Est
Investment Insights
Based on property information with market context.
This commercial property offers a versatile opportunity along Cooley Lake Road in a rapidly expanding mixed-use area. Zoned C-3, the property supports a wide range of commercial uses. The large commercial building features a storefront presence, suitable for retail, showroom, or office use. The property provides over 12,000 square feet of retail and office space, customizable for various business operations. The rear of the building includes an expansive warehouse area with 16-18' clear ceiling height, suitable for storage, distribution, or light industrial use. A 16’ overhead garage door enhances loading and logistics. Ample on-site parking is available for employees, clients, and deliveries. The property benefits from excellent visibility and strong traffic counts. Located minutes from Oakland County International Airport, it offers convenient access to M-59 and I-75, providing regional connectivity. The property is situated on a 1+ acre site.
Key Highlights
- Prime C‑3 Zoned Commercial Property on Cooley Lake Rd
- High‑Visibility Location in a Rapidly Expanding Mixed‑Use Corridor
- Large Commercial Building with Over 12,000 sq ft of Retail and Office Space
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
$72,196
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
5.55%
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%
$1,443,920
$1.4M
Cap Rate 7%
$1,031,371
$1.0M
Cap Rate 9%
$802,178
$802.2K
Market Conditions
NOI Build-Up for 12,000 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
$88.2K $7.35/SF
− Vacancy
−$3.3K −$0.27/SF
EGI
$84.9K $7.08/SF
− OpEx
−$12.7K −$1.06/SF
NOI
$72.2K $6.02/SF
Area
Oakland County, MI
Vacancy
3.70%
Lease Rate
$7.35 /SF/Yr
Expense Ratio
15.00%
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%
$1,443,920
Cap Rate 7%
$1,031,371
Cap Rate 9%
$802,178
Alternative Uses
Best Use
Retail
$1.84M
$1.61M – $2.15M
NOI $129,125 @ 7.0% cap · market cap 9.93%
Second Best
Mixed Use
$1.74M
$1.52M – $2.03M
NOI $121,500 @ 7.0% cap · market cap 9.35%
Theoretical Best
Specialty Retail
$2.59M
$2.26M – $3.02M
NOI $181,181 @ 7.0% cap · market cap 13.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
232
Businesses Nearby
Explore this area
Business Placement
Demographics for 48327, MI
21,811
Population
9,864
Households
2.2
Avg Household Size
41
Median Age
32%
College-Educated
94%
High-School Grad
11.3 sq mi
ZIP Area
1,930
Density / Sq Mi
$75,512
Median Household Income
$46,259
Median Earnings
$1,058
Median Rent
$241,600
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Adaptable commercial asset in a thriving growth market.
Where is this mixed-use property located?
The property is located at 7570 Cooley Lake Rd Waterford, MI.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Prime C‑3 Zoned Commercial Property on Cooley Lake Rd; High‑Visibility Location in a Rapidly Expanding Mixed‑Use Corridor; Large Commercial Building with Over 12,000 sq ft of Retail and Office Space
