Highland Park Commercial Plaza
16600 HAMILTON Avenue, Highland Park, MI 48203
Four-unit commercial plaza in high-traffic location, ideal for investors.
Type:Commercial/Industrial
Property size:
6,655 SFPrice / SF:
$120/SF- Added:
- May 5, 2025
- Days on Market:
- 391
- Last Refresh:
- May 29 at 12:46 am
Property Features for 16600 HAMILTON Avenue
General Information
- Standard status
- Active
- Size
- 6,655 SF
- Property subtype
- Commercial/Industrial
Building Details
- Year Built
- 2001
Listing agent Joseph Sesi License #6506048975 (248) 617-7777
Listing office EXP Realty Main (248) 617-7777
Listing date May 5, 2025
Source Exitrealty
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 EXP Realty Main
HighLights
- High‑traffic location with excellent visibility and easy access to I‑75 and Davison Freeway
- Fully vacant, offering immediate occupancy and flexibility
- Four‑unit commercial plaza with a large 3,655 sq ft unit and three approximately 1,000 sq ft units
- Built in 2001, suggesting modern construction
- Zoned for commercial use, suitable for various businesses
- Ample on‑site parking for tenants and customers
Overview
This well-maintained, four-unit commercial plaza, constructed in 2001, is located on Hamilton Road in Highland Park. Situated along a high-traffic corridor, the property is minutes from I-75 and the Davison Freeway, offering visibility and accessibility. The plaza includes one 3,655-square-foot unit and three additional units of approximately 1,000 square feet each. All units feature private restrooms and 13-foot ceiling heights. Zoned for commercial use, the building is fully vacant and suitable for retail, office, or service-based businesses. On-site parking is available for tenants and customers. The property is located in a growing commercial corridor with strong local traffic and nearby development activity.
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 | $95.8k | $14.40 |
| − Vacancy | −$5.7k | −$0.86 |
| EGI | $90.1k | $13.54 |
| − OpEx | −$27.0k | −$4.06 |
| NOI | $63.1k | $9.48 |
6,655 SF · lease $14.40/SF/yr · vacancy 6.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$900.8K
$788.2K – $1.05M
NOI $63,057 @ 7.0% cap · market cap 7.88%
Second Best
Office B
$327.3K
$286.4K – $381.8K
NOI $22,910 @ 7.0% cap · market cap 2.86%
Theoretical Best
Specialty Retail
$1.23M
$1.08M – $1.44M
NOI $86,249 @ 7.0% cap · market cap 10.78%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Shopping centers
Location Insight
- Map
- Local Demand
- City
- Highland Park
- County
- Wayne
- State
- Michigan
- Longitude
- -83.1141097
- Latitude
- 42.4147555
Nearby Similar for Sale
FAQs
What type of property is this?
Shopping center - Four-unit commercial plaza in high-traffic location, ideal for investors.
Where is this shopping center located?
The property is located at 16600 HAMILTON Avenue Highland Park, MI.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: High‑traffic location with excellent visibility and easy access to I‑75 and Davison Freeway; Fully vacant, offering immediate occupancy and flexibility; Four‑unit commercial plaza with a large 3,655 sq ft unit and three approximately 1,000 sq ft units
