Fully Occupied Retail Center

29048-29098 N Campbell Rd, Madison Heights, MI 48071

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For Sale

$5,500,000

Neighborhood retail center in Madison Heights, Michigan for sale.

Type:Shopping Strip

Property size:

38,000 SF

Price / SF:

$144/SF

HighLights

Fully occupied neighborhood retail center providing stable in‑place income.
Located at a signalized hard corner with high visibility and significant traffic count (39,000 vehicles per day).
Anchored by Family Dollar with a 16+ year tenancy, demonstrating stability.
Proximity to Royal Oak, a desirable and supply‑constrained market, drawing traffic from multiple communities.
Positioned within a dense retail trade area (27.7 million sq ft within 5 miles) with strong cross‑shopping.
Diverse tenant mix of neighborhood‑serving businesses and shadow‑anchored by Hollywood Market.

We can help!

Listing Contact

Darin Gross

Learn more

For Sale

$5,500,000

Neighborhood retail center in Madison Heights, Michigan for sale.

Type:Shopping Strip

Property size:

38,000 SF

Price / SF:

$144/SF

Added:: Apr 3, 2026
Days on Market:: 70
Last Refresh:: Apr 3 at 5:13 am

Property Features for 29048-29098 N Campbell Rd

General Information

Standard status: Active
Size: 38,000 SF
Property subtype: Shopping Strip

Building Details

Year Built: 1979

We can help!

Listing Contact

Darin Gross

Listing agent Darin Gross License #MI: 6501384871

Listing office Detroit Office

Listing date Apr 3, 2026

Source Marcusmillichap

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 Detroit Office

HighLights

Fully occupied neighborhood retail center providing stable in‑place income.
Located at a signalized hard corner with high visibility and significant traffic count (39,000 vehicles per day).
Anchored by Family Dollar with a 16+ year tenancy, demonstrating stability.
Proximity to Royal Oak, a desirable and supply‑constrained market, drawing traffic from multiple communities.
Positioned within a dense retail trade area (27.7 million sq ft within 5 miles) with strong cross‑shopping.
Diverse tenant mix of neighborhood‑serving businesses and shadow‑anchored by Hollywood Market.

Overview

Royal Madison Plaza is a fully occupied neighborhood retail center located in Madison Heights, Michigan. The property contains 38,000 square feet and is situated at a signalized hard corner along a primary commercial corridor, with high visibility and traffic of approximately 39,000 vehicles per day. The center benefits from prominent pylon signage. The property is positioned within approximately 27.7 million square feet of existing retail inventory. The surrounding trade area features a significant presence of national and regional retailers. The city is home to more than 1,300 businesses within 7.2 square miles, contributing to a five-mile daytime population exceeding 415,000. The retail center is anchored by Family Dollar, which occupies approximately 29 percent of the gross leasable area and has maintained its tenancy for more than 16 years. The center is further supported by a diverse mix of neighborhood-serving tenants including Irish Tavern, Charlie’s Restaurant, LC’s Asian Kitchen, Northern Lights Supplies, A-1 Tobacco, Annie’s Nails and Madison Division Cannabis. Madison Heights offers direct access to the broader Detroit metropolitan area via I-75 and I-696. The property is located near Royal Oak, Troy, Hazel Park and Clawson. The property is positioned within a dense five-mile retail trade area.

Local Financial Insights For Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$638.4k	$16.80
− Vacancy	−$54.3k	−$1.43
EGI	$584.1k	$15.37
− OpEx	−$175.2k	−$4.61
NOI	$408.9k	$10.76

38,000 SF · lease $16.80/SF/yr · vacancy 8.50% · expense 30.00%

Alternative Uses

Best Use

Retail

$5.84M

$5.11M – $6.81M (±1% cap)

NOI $408,895 @ 7.0% cap · market cap 7.43%

Second Best

—

no second resolved use

Theoretical Best

Specialty Retail

$8.20M

$7.17M – $9.56M (±1% cap)

NOI $573,739 @ 7.0% cap · market cap 10.43%

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

Location Intelligence

Current Use by Public Records

Shopping centers

Suggested Use

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Location Insight

Map
Local Demand

City: Madison Heights
County: Oakland
State: Michigan
Longitude: -83.1243725
Latitude: 42.5060217

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For sale
Shopping centers
MI
Madison Heights
48071
29048-29098 N Campbell Rd

What type of property is this?

Shopping center - Neighborhood retail center in Madison Heights, Michigan for sale.

Where is this shopping center located?

The property is located at 29048-29098 N Campbell Rd Madison Heights, MI.

What is the asking price?

The asking price for this property is $5,500,000.

What are key features of this property?

This property features: Fully occupied neighborhood retail center providing stable in‑place income.; Located at a **signalized hard corner with high visibility** and significant traffic count (39,000 vehicles per day).; **Anchored by Family Dollar with a 16+ year tenancy**, demonstrating stability.