Commercial Land Redevelopment
New
For Sale
$600,000
26529-26545 John R Rd, Madison Heights, MI 48071
Dual-parcel commercial land site along John R in Madison Heights with main-road frontage and an existing concrete block building.
Property Size1,973 SF
Days on Market5
Property Features for 26529-26545 John R Rd
General Information
Standard status
Active
Size
1,973 SF
Property subtype
Commercial
Building Details
Building Size
1,973 SF
Year Built
1958
Listing Agency:
(248) 564-6071
Listed By:
Julia L Myers
(248) 564-6071
Source:
Elliman
Added: Jul 30
Changed: Jul 31
Last Checked: Aug 3 at 4:59AM
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 Julia L Myers
Investment Insights
Based on property information with market context.
This dual-parcel commercial site totals 0.455 acres across 26529 and 26545 John R Road in Madison Heights. It includes an existing 1,973 SF concrete block structure and a vacant adjacent lot described as shovel-ready infill to support an accelerated build timeline. The offering is positioned for downtown redevelopment and designed for future high-density mixed-use development.
The site has 175 feet of main-road frontage along the John R corridor, just south of 11 Mile Road, and is described as across from a school. Traffic exposure is highlighted with average counts of 21,000+ vehicles per day. It sits within 1 mile of the I-75 and I-696 interchange and is described as 15 minutes to Downtown Detroit, 18 minutes to the Detroit-Windsor Tunnel, 3 miles from a regional train station, 6 miles from the airport, and 8 miles from the commercial waterway.
The property is referenced under 2024 “CC” (City Center) zoning, with development frameworks permitting up to 4 stories of dedicated residential housing, or a 3-over-1 mid-rise format featuring ground-floor retail beneath multi-family units. The existing concrete block structure was built in 1958.
The site has 175 feet of main-road frontage along the John R corridor, just south of 11 Mile Road, and is described as across from a school. Traffic exposure is highlighted with average counts of 21,000+ vehicles per day. It sits within 1 mile of the I-75 and I-696 interchange and is described as 15 minutes to Downtown Detroit, 18 minutes to the Detroit-Windsor Tunnel, 3 miles from a regional train station, 6 miles from the airport, and 8 miles from the commercial waterway.
The property is referenced under 2024 “CC” (City Center) zoning, with development frameworks permitting up to 4 stories of dedicated residential housing, or a 3-over-1 mid-rise format featuring ground-floor retail beneath multi-family units. The existing concrete block structure was built in 1958.
Key Highlights
- 0.455‑acre dual‑parcel commercial site at 26529 & 26545 John R Road
- 175 feet of main‑road frontage along the John R corridor
- 1,973 SF concrete block structure included with the land
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 | $33.1k | $16.80 |
| − Vacancy | −$2.8k | −$1.43 |
| EGI | $30.3k | $15.37 |
| − OpEx | −$9.1k | −$4.61 |
| NOI | $21.2k | $10.76 |
1,973 SF · lease $16.80/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$303.3K
$265.4K – $353.8K
NOI $21,230 @ 7.0% cap · market cap 3.54%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$425.6K
$372.4K – $496.5K
NOI $29,789 @ 7.0% cap · market cap 4.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
510
Businesses Nearby
28k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 60%
Dining 35%
Beauty & Spa 5%
7-Eleven
Shops & Services
7,240 visits/mo
0.4 miles
BIGGBY COFFEE
Dining
6,423 visits/mo
0.2 miles
Mobil
Shops & Services
4,747 visits/mo
0.3 miles
BP
Shops & Services
4,587 visits/mo
0.3 miles
Jet's Pizza
Dining
2,247 visits/mo
0.2 miles
Demographics for 48071, MI
28,468
Population
14,690
Households
1.9
Avg Household Size
39
Median Age
32%
College-Educated
89%
High-School Grad
7.1 sq mi
ZIP Area
4,010
Density / Sq Mi
$66,726
Median Household Income
$49,151
Median Earnings
$1,138
Median Rent
$190,300
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?
Commercial land - Dual-parcel commercial land site along John R in Madison Heights with main-road frontage and an existing concrete block building.
Where is this commercial land located?
The property is located at 26529-26545 John R Rd Madison Heights, MI.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 0.455‑acre dual‑parcel commercial site at 26529 & 26545 John R Road; 175 feet of main‑road frontage along the John R corridor; 1,973 SF concrete block structure included with the land
