Four-Unit Retail and Office
For Sale
$374,900
76277633 7627-7633 Highland Rd, Waterford, MI 48327
C-2 zoning designated for local commercial, retail, and professional office uses.
Property Size5,198 SF
Price / SF$72.12
Days on Market38
Property Features for 76277633 7627-7633 Highland Rd
General Information
Standard status
Active
Size
5,198 SF
Zoning
C-2
Occupancy
50%
Additional Details
Road Access
Yes
Office Units
4
Building Details
Year Built
1955
Tenancy
Multi
Listing Agency:
Wilhelm & Associates
Listed By:
Thomas Wilhelm · License #6501196948
(248) 625-9500
Source:
Katie-k
Added: Sep 1
Changed: Oct 6
Last Checked: Oct 7 at 4:25PM
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 Wilhelm & Associates
Investment Insights
Based on property information with market context.
This 5,198 SF commercial center contains four retail and office units, each measuring 1,200 SF. Two units are currently leased, creating an existing multi-tenant configuration for continued occupancy or owner use. The property was built in 1955 and includes an on-site parking layout for customers, employees, and visitors.
The center fronts Highland Road, also identified as the M-59 corridor, at 7627-7633 Highland Rd in Waterford, Michigan. Its zoning is C-2, with local commercial, retail, and professional office designations. The four-unit layout and mix of retail and office suitability provide a flexible commercial format along a prominent road corridor.
The center fronts Highland Road, also identified as the M-59 corridor, at 7627-7633 Highland Rd in Waterford, Michigan. Its zoning is C-2, with local commercial, retail, and professional office designations. The four-unit layout and mix of retail and office suitability provide a flexible commercial format along a prominent road corridor.
Key Highlights
- Four retail and office units, each measuring 1,200 SF
- 5,198 SF commercial center built in 1955
- Two of the four units are currently leased
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,894
Cap Rate
4.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$357,880
$357.9K
Cap Rate 7%
$255,629
$255.6K
Cap Rate 9%
$198,822
$198.8K
Market Conditions
NOI Build-Up for 5,198 SF
Gross rent
$31.2K $6.00/SF
− Vacancy
−$7.3K −$1.41/SF
EGI
$23.9K $4.59/SF
− OpEx
−$6.0K −$1.15/SF
NOI
$17.9K $3.44/SF
Area
Oakland County, MI
Vacancy
23.50%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$357,880
Cap Rate 7%
$255,629
Cap Rate 9%
$198,822
Alternative Uses
Best Use
Retail
$799.0K
$699.2K – $932.2K
NOI $55,933 @ 7.0% cap · market cap 14.92%
Second Best
Office B
$255.6K
$223.7K – $298.2K
NOI $17,894 @ 7.0% cap · market cap 4.77%
Theoretical Best
Specialty Retail
$1.12M
$981.0K – $1.31M
NOI $78,481 @ 7.0% cap · market cap 20.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Office units
50%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
232
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48327, MI
21,811
Population
9,864
Households
2.2
Avg Household Size
41
Median Age
32%
College-Educated
94%
High-School Grad
11.3 sq mi
ZIP Area
1,930
Density / Sq Mi
$75,512
Median Household Income
$46,259
Median Earnings
$1,058
Median Rent
$241,600
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - C-2 zoning designated for local commercial, retail, and professional office uses.
Where is this shopping center located?
The property is located at 76277633 7627-7633 Highland Rd Waterford, MI.
What is the asking price?
The asking price for this property is $374,900.
What are key features of this property?
This property features: Four retail and office units, each measuring 1,200 SF; 5,198 SF commercial center built in 1955; Two of the four units are currently leased
