Add Listing
    For Sale
    • 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

    32756 Woodward Ave Royal Oak, MI 48073

    View on Map
    Claim this Listing
    New
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $290,000

    Two-level commercial building on Woodward Avenue, suitable for retail/office.

    Type:Commercial
    Added:
    Apr 24, 2026
    Days on Market:
    4
    Last Refresh:
    Apr 24 at 4:44 pm

    Property Features for 32756 Woodward Ave

    General Information

    Standard status
    Active
    Property subtype
    Commercial

    Building Details

    Year Built
    1955

    We can help!

    Listing Contact
    Tom Nelson

    Listing agent Tom Nelson License #6506041106

    Listing office Tom Nelson

    Listing date Apr 24, 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 Tom Nelson

    Overview

    Commercial Property on Woodward Avenue

    This two-level commercial property is located on Woodward Avenue, south of Birmingham, offering high visibility and consistent traffic flow. Situated within a small retail strip adjacent to a restaurant, the building provides flexibility for various uses, including retail, office, or service-based businesses. The two-story layout allows for potential configurations such as separate spaces or a duplex-style setup, subject to local approvals. Rear parking is available for both customers and staff. Recent updates include a newer furnace and roof, potentially reducing immediate capital expenses. Currently occupied by Fashion Eyeglass, the lease will terminate upon sale, providing the new owner with the option to occupy the property or secure a new tenant. The location has a bike score of 40, indicating it is somewhat bikeable, and a walk score of 43, suggesting car dependence.
    Location Intelligence

    Current Use by Public Records

    Fashion Eyeglass Physician

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy

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

    Similar Places Nearby

    • Balon Jacqueline — 30575 Woodward Ave, Royal Oak, MI 48073
    • Rangers Floral Garden — 4051 W 13 Mile Rd, Royal Oak, MI 48073

    Location Insight

    • Map
    • Local Demand
    City
    Royal Oak
    County
    Oakland
    State
    Michigan
    Longitude
    -83.1971006
    Latitude
    42.5299405

    Nearby Similar for Sale

    • $839,500
      4,000 SF

      Royal Oak Commercial Property on Woodward

      Versatile property on Woodward Avenue suitable for various commercial uses.
      32044 WOODWARD Avenue, Royal Oak, MI 48073
      View Details
    • $425,000
      1,220 SF

      Royal Oak Office For Sale

      Classy 1220 SF office in downtown Royal Oak.
      417 E. FOURTH Street, Royal Oak, MI 48067
      View Details
    • $525,000

      Royal Oak Duplex Investment

      Tenant-occupied duplex near downtown Royal Oak with updated features.
      907 E Fifth Street, Royal Oak, MI 48067
      View Details
    • $490,000

      Royal Oak Income-Producing Duplex

      Well-maintained duplex in downtown Royal Oak with updated units.
      802 S Lafayette Avenue, Royal Oak, MI 48067
      View Details
    • $825,000
      2,818 SF

      Royal Oak Retail Opportunity

      Retail building in a great location in Royal Oak, MI.
      1018 E 11 Mile Road, Royal Oak, MI 48067
      View Details
    • $425,000
      1,220 SF

      Classy Office in Downtown Royal

      Updated 1220 SF office with parking in Royal Oak.
      417 E. FOURTH St, Royal Oak, MI 48067
      View Details
    • $515,000

      Royal Oak Mixed-Use Opportunity

      Two buildings in prime location near downtown Royal Oak.
      520 E 11 Mile Rd, Royal Oak, MI 48067
      View Details
    • $450,000

      Updated Duplex in Royal Oak

      Turn-key duplex with income potential in the heart of Royal Oak.
      1226 E 6th St, Royal Oak, MI 48067
      View Details
    • $375,000

      Royal Oak Brick Duplex Investment

      Charming, fully leased duplex in Royal Oak with immediate cashflow.
      1109 Catalpa Dr, Royal Oak, MI 48067
      View Details
    • $485,000

      Charming 1930s Tudor Multifamily Home

      Tenant-occupied duplex with updated interiors and strong income potential.
      925 E 2nd St, Royal Oak, MI 48067
      View Details
    • Contact for pricing
      5,889 SF

      High-End Retail/Office Building on Woodward

      Turn-key, remodeled retail/office building with parking near Birmingham.
      32500 Woodward Avenue, Royal Oak, MI, 48073
      View Details
    • $290,000

      Commercial Property on Woodward Avenue

      Two-level commercial building on Woodward Avenue, south of Birmingham.
      32756 Woodward Ave, Royal Oak, MI 48073
      View Details

    FAQs

    What type of property is this?
    Storefront property - Two-level commercial building on Woodward Avenue, suitable for retail/office.
    Where is this storefront property located?
    The property is located at 32756 Woodward Ave Royal Oak, MI.
    What is the asking price?
    The asking price for this property is $290,000.
    What are key features of this property?
    This property features: Prime location on Woodward Avenue, south of Birmingham, with high visibility and traffic.; Flexible two‑level building suitable for retail, office, or service‑based businesses.; Lease terminates upon sale, providing immediate occupancy or tenant placement flexibility.
    (248) 854-2135
    We can help!
    Listing Contact
    Tom Nelson
    Real Estate License ID: 6506041106
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!