Retail Corner Storefront
For Sale
Contact for pricing
13630 W 8 Mile Rd, Oak Park, MI 48237
Street-level retail suite on a prominent corner with large storefront windows and two curb cuts for convenient access.
Property Size2,200 SF
Price / SF$226.82
Days on Market103
Property Features for 13630 W 8 Mile Rd
General Information
Standard status
Active
Size
2,200 SF
Property subtype
RETAIL
Site & Location
Traffic Count
60,000 vehicles/day
Highway Access
Yes
Properties For Sale
at 13630 W 8 Mile Rd Contact us- Floor
- Bldg
- Size
- 2,200 SF
- Type
- RETAIL
- Lease Type
- NNN
- Availability
- AVAILABLE, Now
- Sublease
- No
13630 W 8 Mile Rd
- 68’ Frontage on 8 Mile Rd (with 2 curb cuts)
- Signalized Intersection
- 2 Curb...
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Contact us
Listing Agency:
NAI Farbman - Corporate
(248) 563-0739
Listed By:
Wendy Acho · License #6501411463
(248) 563-0739
Source:
Moodyscre
Added: May 14
Changed: Aug 23
Last Checked: Aug 24 at 6:20AM
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 NAI Farbman - Corporate
Investment Insights
Based on property information with market context.
This retail storefront is positioned on a prominent retail corner and designed around strong street presence. The space features large storefront windows that bring in natural light and support product and service display along the frontage.
Located on the high-traffic 8 Mile Road corridor, the property benefits from a central position within Oak Park. Public remarks indicate over 60,000 vehicles traveling daily and mention convenient access with two curb cuts serving the site.
The offering is well suited for retail, restaurant, or office/medical use, based on the property’s street visibility and storefront configuration.
Located on the high-traffic 8 Mile Road corridor, the property benefits from a central position within Oak Park. Public remarks indicate over 60,000 vehicles traveling daily and mention convenient access with two curb cuts serving the site.
The offering is well suited for retail, restaurant, or office/medical use, based on the property’s street visibility and storefront configuration.
Key Highlights
- Street‑level retail suite on a prominent corner at 8 Mile & Coolidge in Oak Park, MI
- Year built: 1960
- Large storefront windows for natural light and display visibility
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
$23,673
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
4.74%
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%
$473,460
$473.5K
Cap Rate 7%
$338,186
$338.2K
Cap Rate 9%
$263,033
$263.0K
Market Conditions
NOI Build-Up for 2,200 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
$37.0K $16.80/SF
− Vacancy
−$3.1K −$1.43/SF
EGI
$33.8K $15.37/SF
− OpEx
−$10.1K −$4.61/SF
NOI
$23.7K $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%
$473,460
Cap Rate 7%
$338,186
Cap Rate 9%
$263,033
Alternative Uses
Best Use
Retail
$338.2K
$295.9K – $394.6K
NOI $23,673 @ 7.0% cap · market cap 4.74%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$474.5K
$415.2K – $553.6K
NOI $33,216 @ 7.0% cap · market cap 6.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
60,000 VPD
Traffic count
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
464
Businesses Nearby
82k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 74%
Dining 21%
Apparel 5%
Dollar Tree
Shops & Services
16,942 visits/mo
0.3 miles
Public Service Credit Union
Shops & Services
10,513 visits/mo
0.4 miles
Dollar General
Shops & Services
10,050 visits/mo
0.4 miles
Family Dollar
Shops & Services
8,857 visits/mo
0.2 miles
KFC
Dining
6,802 visits/mo
0.5 miles
Demographics for 48237, MI
29,560
Population
13,036
Households
2.3
Avg Household Size
38
Median Age
39%
College-Educated
93%
High-School Grad
5.1 sq mi
ZIP Area
5,796
Density / Sq Mi
$65,882
Median Household Income
$44,992
Median Earnings
$1,354
Median Rent
$198,500
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 - Street-level retail suite on a prominent corner with large storefront windows and two curb cuts for convenient access.
Where is this retail space located?
The property is located at 13630 W 8 Mile Rd Oak Park, MI.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Street‑level retail suite on a prominent corner at 8 Mile & Coolidge in Oak Park, MI; Year built: 1960; Large storefront windows for natural light and display visibility
