Retail Property for
For Sale
$5,196,098
10150 Highland Road, White Lake, MI 49441
Retail property offered for sale at 10150 Highland Road, suited for buyers seeking a straightforward retail acquisition.
Property Size19,097 SF
Days on Market55
Property Features for 10150 Highland Road
General Information
Standard status
Active
Size
19,097 SF
Property subtype
Commercial
Occupancy
100%
Lease Term
± 12.25 Years
Net Operating Income
$319,560
Building Details
Building Size
19,097 SF
Year Built
2013
Listing Agency:
Matthews Real Estate Investment Services
(949) 662-2252
Listed By:
Chad Kurz · License #01911198 (CA)
(949) 662-2252
Source:
Matthews
Added: Jun 28
Changed: Aug 8
Last Checked: Aug 21 at 3:52AM
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 Matthews Real Estate Investment Services
Investment Insights
Based on property information with market context.
This offering presents a retail property available for sale. The asset is categorized as retail space within a broader commercial real estate listing, providing an ownership opportunity for buyers focused on retail use.
The property is located at 10150 Highland Road in White Lake, Michigan. As provided, no additional building specifics, unit configuration, or on-site improvements were included in the listing information, so prospective buyers should plan to review the site and property details directly to confirm suitability for their intended concept.
From an operator and investor standpoint, the most practical takeaway is that this is a retail-oriented acquisition rather than a flexible-use or office-focused asset. Buyers evaluating the property can use it as a starting point for due diligence around retail tenant requirements, storefront and layout considerations, and any property-level factors that affect leasing or occupancy. For a complete assessment, request available documents and schedule a walkthrough to verify condition, dimensions, and any existing site or building features that are not included in the summary information.
The property is located at 10150 Highland Road in White Lake, Michigan. As provided, no additional building specifics, unit configuration, or on-site improvements were included in the listing information, so prospective buyers should plan to review the site and property details directly to confirm suitability for their intended concept.
From an operator and investor standpoint, the most practical takeaway is that this is a retail-oriented acquisition rather than a flexible-use or office-focused asset. Buyers evaluating the property can use it as a starting point for due diligence around retail tenant requirements, storefront and layout considerations, and any property-level factors that affect leasing or occupancy. For a complete assessment, request available documents and schedule a walkthrough to verify condition, dimensions, and any existing site or building features that are not included in the summary information.
Key Highlights
- Retail property built in 2013
- Offered for sale at 10150 Highland Road
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
$205,491
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
3.95%
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%
$4,109,820
$4.1M
Cap Rate 7%
$2,935,586
$2.9M
Cap Rate 9%
$2,283,233
$2.3M
Market Conditions
NOI Build-Up for 19,097 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
$320.8K $16.80/SF
− Vacancy
−$27.3K −$1.43/SF
EGI
$293.6K $15.37/SF
− OpEx
−$88.1K −$4.61/SF
NOI
$205.5K $10.76/SF
Area
Oakland County, MI
Vacancy
8.50%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
30.00%
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%
$4,109,820
Cap Rate 7%
$2,935,586
Cap Rate 9%
$2,283,233
Alternative Uses
Best Use
Retail
$2.94M
$2.57M – $3.42M
NOI $205,491 @ 7.0% cap · market cap 3.95%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.12M
$3.60M – $4.81M
NOI $288,334 @ 7.0% cap · market cap 5.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
149
Businesses Nearby
Explore this area
Business Placement
Demographics for 49441, MI
36,886
Population
16,491
Households
2.2
Avg Household Size
43
Median Age
28%
College-Educated
94%
High-School Grad
21.7 sq mi
ZIP Area
1,700
Density / Sq Mi
$65,235
Median Household Income
$38,132
Median Earnings
$1,080
Median Rent
$194,000
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail property offered for sale at 10150 Highland Road, suited for buyers seeking a straightforward retail acquisition.
Where is this retail space located?
The property is located at 10150 Highland Road White Lake, MI.
What is the asking price?
The asking price for this property is $5,196,098.
What are key features of this property?
This property features: Retail property built in 2013; Offered for sale at 10150 Highland Road
