Waterfront 4-Unit Retail
9861 Dixie Highway Clarkston, MI 48348
9861 Dixie Highway, Clarkston, MI, 48348
$1,250,000
For Sale
$1,250,000
Remodeled 4-unit retail property with separate entrances and 300+ feet of waterfront access.
Property Size10,000 SF
Price / SF$125
Days on Market1428
Property Features for 9861 Dixie Highway
General Information
- Standard status
- Active
- Size
- 10,000 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1981
Listing agency
Century 21 Professionals Clarkston
(248) 318-9123
Listed by
Darlene Goodwin
(248) 318-9123
Source
Phgrealty
Added: Aug 24, 2022 Updated: Jul 21 at 5:27AM Checked: Jul 21 at 5:27AM
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 Century 21 Professionals Clarkston
Investment Insights
Based on property information with market context.
This remodeled retail property offers an upscale four-unit configuration with separate entrances for each unit. The building was transformed from a former fabrication facility and reconstructed throughout, including new roof and updated plumbing and electrical service (220/440V). Additional improvements include two furnaces, multiple high-efficiency wall units, a new water heater, and a full interior refresh with custom flooring, ceilings, walls, recessed lighting, and updated windows and doors. The building also includes extensive concrete work, custom finishes, and a 16-camera security system with nine cameras installed.
The property features substantial waterfront frontage with over 300 feet of access to all-sports Dixie Lake. Improvements also include a seawall and dock, along with lake access that may support a range of business concepts.
Unit details include overhead doors, a custom kitchen with stainless Whirlpool appliances (granite surfaces, dual sinks, custom cabinets, and a large center island), and multiple restroom finishes. Two units are currently leased, with the third unit occupied and the fourth unit available; details are available upon request.
The property features substantial waterfront frontage with over 300 feet of access to all-sports Dixie Lake. Improvements also include a seawall and dock, along with lake access that may support a range of business concepts.
Unit details include overhead doors, a custom kitchen with stainless Whirlpool appliances (granite surfaces, dual sinks, custom cabinets, and a large center island), and multiple restroom finishes. Two units are currently leased, with the third unit occupied and the fourth unit available; details are available upon request.
Key Highlights
- Remodeled 4‑unit retail building (Year built 1981) with separate entrances and 300+ ft waterfront access on all‑sports Dixie Lake
- Former fabrication facility fully transformed with extensive interior reconstruction, new custom finishes, windows/doors, recessed lighting, and upgraded flooring/ceilings
- Remodel includes new roof, plumbing, and electrical service (220/440v), plus 2 furnaces and 7 high‑efficiency wall units, along with interior/exterior paint
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 | $168.0k | $16.80 |
| − Vacancy | −$14.3k | −$1.43 |
| EGI | $153.7k | $15.37 |
| − OpEx | −$46.1k | −$4.61 |
| NOI | $107.6k | $10.76 |
10,000 SF · lease $16.80/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.54M
$1.35M – $1.79M
NOI $107,604 @ 7.0% cap · market cap 8.61%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.16M
$1.89M – $2.52M
NOI $150,984 @ 7.0% cap · market cap 12.08%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Iron Raven Metalworks
Metal Fabrication Plant
Similar For Sale Nearby
Similar Off Market Nearby
- Coinstar Kiosk | Bitcoin ATM — Kroger - Michigan, 9741 Dixie Hwy, City of the Village of Clarkston, MI 48348
FAQs
What type of property is this?
Shopping center - Remodeled 4-unit retail property with separate entrances and 300+ feet of waterfront access.
Where is this shopping center located?
The property is located at 9861 Dixie Highway Clarkston, MI.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Remodeled 4‑unit retail building (Year built 1981) with separate entrances and 300+ ft waterfront access on all‑sports Dixie Lake; Former fabrication facility fully transformed with extensive interior reconstruction, new custom finishes, windows/doors, recessed lighting, and upgraded flooring/ceilings; Remodel includes new roof, plumbing, and electrical service (220/440v), plus 2 furnaces and 7 high‑efficiency wall units, along with interior/exterior paint
