Multi-Tenant Retail
1052 1072 W Huron Street Waterford, MI 48328
1052 1072 W Huron Street, Waterford, MI, 48328
$2,600,000
For Sale
$2,600,000
Multi-tenant retail asset is 100% occupied with stable tenancy and prominent visibility along a high-traffic corridor.
Property Size21,345 SF
Price / SF$121.81
Days on Market47
Property Features for 1052 1072 W Huron Street
General Information
- Standard status
- Active
- Size
- 21,345 SF
- Property subtype
- Retail
Listing Agency
(248) 324-2000
Listed by
Josh Miller
Source
Friedmanrealestate
Added: Jun 2 Checked: Jul 16 at 2:05 am
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 Josh Miller
Investment Insights
Based on property information with market context.
This multi-tenant retail center totals 21,345 SF and is currently 100% occupied, supported by stable tenancy in a low-vacancy market. The property features a diverse, service-oriented tenant mix designed for everyday demand and consistent foot traffic within a retail-oriented setting. Additional value is highlighted through the potential to convert existing gross leases to NNN structure, supporting an indicated NOI of approximately $230,000 at a stated 7.8% cap rate.
The center benefits from visible presence along M-59, a high-traffic commercial corridor serving the Waterford, MI area. Remarks also note dense rooftops and strong surrounding demographics, factors that typically support retention and leasing demand for neighborhood and service-focused retail. This combination of location and occupancy is positioned to appeal to investors seeking steadier income from an established retail mix.
For buyers and investors, the property offers an immediately leased retail platform with an occupancy level that can reduce near-term leasing risk. Tenant operators may also find the center attractive given its established tenancy and service-oriented orientation. The NNN conversion upside provides a clear path to potentially improving operating efficiency and long-term cash flow characteristics.
The center benefits from visible presence along M-59, a high-traffic commercial corridor serving the Waterford, MI area. Remarks also note dense rooftops and strong surrounding demographics, factors that typically support retention and leasing demand for neighborhood and service-focused retail. This combination of location and occupancy is positioned to appeal to investors seeking steadier income from an established retail mix.
For buyers and investors, the property offers an immediately leased retail platform with an occupancy level that can reduce near-term leasing risk. Tenant operators may also find the center attractive given its established tenancy and service-oriented orientation. The NNN conversion upside provides a clear path to potentially improving operating efficiency and long-term cash flow characteristics.
Key Highlights
- ±21,345 SF multi‑tenant retail center in Waterford, MI
- 100% occupied with stable tenancy and low‑vacancy market positioning
- Prominent visibility along M‑59, a high‑traffic commercial corridor
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 | $358.6k | $16.80 |
| − Vacancy | −$30.5k | −$1.43 |
| EGI | $328.1k | $15.37 |
| − OpEx | −$98.4k | −$4.61 |
| NOI | $229.7k | $10.76 |
21,345 SF · lease $16.80/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$3.28M
$2.87M – $3.83M
NOI $229,681 @ 7.0% cap · market cap 8.83%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.60M
$4.03M – $5.37M
NOI $322,275 @ 7.0% cap · market cap 12.40%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Shopping centers
Similar For Sale Nearby
Similar Off Market Nearby
- Oakland Pointe Shopping Center — Telegraph Rd, Pontiac, MI 48341
- Colony Square — Waterford Twp, MI 48328
FAQs
What type of property is this?
Shopping center - Multi-tenant retail asset is 100% occupied with stable tenancy and prominent visibility along a high-traffic corridor.
Where is this shopping center located?
The property is located at 1052 1072 W Huron Street Waterford, MI.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: ±21,345 SF multi‑tenant retail center in Waterford, MI; 100% occupied with stable tenancy and low‑vacancy market positioning; Prominent visibility along M‑59, a high‑traffic commercial corridor
