Four-Unit Commercial
16600 HAMILTON Avenue Unit SourceFi Highland Park, MI 48203
16600 HAMILTON Avenue Unit SourceFi, Highland Park, MI, 48203
$800,000
For Sale
$800,000
Well-maintained four-unit commercial plaza built in 2001, featuring private restrooms and 13-foot ceilings.
Property Size6,655 SF
Price / SF$120.21
Days on Market447
Property Features for 16600 HAMILTON Avenue Unit SourceFi
General Information
- Standard status
- Active
- Size
- 6,655 SF
- Property subtype
- Industrial
Building Details
- Year Built
- 20
Listing agency
EXP Realty Main
(248) 617-7777
Listed by
Joseph Sesi · License #6506048975
(248) 617-7777
Source
Xome
Added: May 1, 2025 Updated: Jul 19 at 1:36AM Checked: Jul 21 at 3:08AM
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
Investment Insights
Based on property information with market context.
This well-maintained four-unit commercial plaza was built in 2001 and is currently fully vacant, offering immediate occupancy flexibility for the next tenant or owner-user. The property includes one larger unit of approximately 3,655 square feet and three additional units of about 1,000 square feet each. Each unit is equipped with a private restroom and 13-foot ceiling heights.
Located along a high-traffic corridor, the plaza offers easy access to I-75 and the Davison Freeway, positioning it for commercial visibility and customer access. The building is zoned for commercial use and includes ample on-site parking for tenants and customers.
With the multi-unit configuration and restroom-equipped spaces already in place, the property can support a range of retail, office, or service-based business uses consistent with the commercial zoning.
Located along a high-traffic corridor, the plaza offers easy access to I-75 and the Davison Freeway, positioning it for commercial visibility and customer access. The building is zoned for commercial use and includes ample on-site parking for tenants and customers.
With the multi-unit configuration and restroom-equipped spaces already in place, the property can support a range of retail, office, or service-based business uses consistent with the commercial zoning.
Key Highlights
- Well‑maintained 4‑unit commercial plaza built in 2001 at 16600 Hamilton Rd, Highland Park
- Fully vacant commercial plaza zoned for commercial use
- Unit mix includes one 3,655 SF unit plus three units of approximately 1,000 SF each
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.
Property Analytics
Location Intelligence
Current Use by Public Records
Shopping centers
Similar For Sale Nearby
Similar Off Market Nearby
- DivDat Kiosk Network — 16400 Woodward Ave, Highland Park, MI 48203
FAQs
What type of property is this?
Shopping center - Well-maintained four-unit commercial plaza built in 2001, featuring private restrooms and 13-foot ceilings.
Where is this shopping center located?
The property is located at 16600 HAMILTON Avenue Unit SourceFi 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: Well‑maintained 4‑unit commercial plaza built in 2001 at 16600 Hamilton Rd, Highland Park; Fully vacant commercial plaza zoned for commercial use; Unit mix includes one 3,655 SF unit plus three units of approximately 1,000 SF each
