Freestanding NNN
For Sale
Contact for pricing
14349 Telegraph Rd., Redford, MI 48346
Single-tenant commercial asset with annual rent increases, corporate lease support, and direct access to I-96.
Property Size4,737 SF
Price / SF$149.46
Days on Market123
Property Features for 14349 Telegraph Rd.
General Information
Standard status
Active
Size
4,737 SF
Property subtype
Office
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$60,177
Financials
Asking Price
$708,000
Cap Rate
7.5%
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1978
Buildings
1
Tenancy
Single
Listing Agency:
CBRE
Listed By:
David Hesano · License #MI 6501300653
Source:
Crexi
Added: Apr 30
Changed: Aug 30
Last Checked: Aug 30 at 4:09AM
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 CBRE
Investment Insights
Based on property information with market context.
This freestanding NNN property contains 4,737 square feet and was constructed in 1978 as a restaurant. The asset is leased to a single tenant under an option term with approximately three years remaining. Lease economics include annual rental escalations and a corporate guarantee. The landlord remains responsible for the parking lot, common area maintenance, roof, and HVAC, while the roof was fully replaced in 2025.
The property fronts Telegraph Rd. and provides quick access to I-96. A large parcel and substantial on-site parking field support the existing commercial configuration. The lease also requires the tenant to pay 10% of reimbursed common area expenses under paragraph 5.3.
The property fronts Telegraph Rd. and provides quick access to I-96. A large parcel and substantial on-site parking field support the existing commercial configuration. The lease also requires the tenant to pay 10% of reimbursed common area expenses under paragraph 5.3.
Key Highlights
- 4,737‑square‑foot freestanding property constructed in 1978
- Single‑tenant NNN lease with approximately three years remaining on the current option term
- Annual rental escalations and corporate lease guarantee
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
$49,113
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
6.94%
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%
$982,260
$982.3K
Cap Rate 7%
$701,614
$701.6K
Cap Rate 9%
$545,700
$545.7K
Market Conditions
NOI Build-Up for 4,737 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
$91.0K $19.20/SF
− Vacancy
−$9.1K −$1.92/SF
EGI
$81.9K $17.28/SF
− OpEx
−$32.7K −$6.91/SF
NOI
$49.1K $10.37/SF
Area
Detroit, MI
Vacancy
10.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
40.00%
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%
$982,260
Cap Rate 7%
$701,614
Cap Rate 9%
$545,700
Alternative Uses
Best Use
Healthcare Medical
$701.6K
$613.9K – $818.6K
NOI $49,113 @ 7.0% cap · market cap 6.94%
Second Best
Office B
$685.6K
$599.9K – $799.8K
NOI $47,990 @ 7.0% cap · market cap 6.78%
Theoretical Best
Office A
$1.05M
$914.4K – $1.22M
NOI $73,150 @ 7.0% cap · market cap 10.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
400
Businesses Nearby
Explore this area
Business Placement
Demographics for 48346, MI
23,058
Population
10,157
Households
2.3
Avg Household Size
42
Median Age
41%
College-Educated
95%
High-School Grad
18.1 sq mi
ZIP Area
1,274
Density / Sq Mi
$97,857
Median Household Income
$49,935
Median Earnings
$1,360
Median Rent
$295,200
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?
NNN property - Single-tenant commercial asset with annual rent increases, corporate lease support, and direct access to I-96.
Where is this nnn property located?
The property is located at 14349 Telegraph Rd. Redford, MI.
What is the asking price?
The asking price for this property is $708,000.
What are key features of this property?
This property features: 4,737‑square‑foot freestanding property constructed in 1978; Single‑tenant NNN lease with approximately three years remaining on the current option term; Annual rental escalations and corporate lease guarantee
