Retail Suites with Pylon
148-206 S Wayne Road, Westland, MI 48186
For Sale
Contact for pricing
Three retail units are available, featuring pylon signage and strong visibility at a signalized intersection.
Property Size29,410 SF
Days on Market144
Property Features for 148-206 S Wayne Road
General Information
Standard status
Size
Property subtype
Lease Term
Building Details
Building Size
Year Built
Properties For Sale
at 148-206 S Wayne Road Contact us190 S. Wayne Road
Size
12,546 SF
Term
Negotiable
204 S. Wayne Road
Size
3,000 SF
Term
Negotiable
35531 Cherry Hill Road
Size
600 SF
Term
Negotiable
Listing Agency:
KJ Commercial
Listed By:
Kevin Jappaya, CCIM · License MI #6502380656
(248) 931-1980
Source:
Kjcre
Added: Jun 24
Changed: Nov 7
Last Checked: Nov 12 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 KJ Commercial
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Investment Insights
Based on property information with market context.
This strip mall offers three available retail units ranging from approximately 600 to 12,546 square feet. The property includes multiple points of ingress and egress to support convenient customer access and circulation. Pylon signage is available on both Wayne Road and Cherry Hill Road, and a new façade is coming soon.
The center benefits from excellent visibility at a signalized intersection along Wayne Road and Cherry Hill Road. The provided traffic counts indicate more than 29,000 VPD on Wayne Road and more than 21,000 VPD on Cherry Hill Road, supporting consistent passing trade. The surrounding tenant mix is described as numerous national, regional, and local businesses, with more than 252,000 people reported within a five-mile radius.
For retailers and service users seeking flexible storefront footprints, the available unit range allows for different operating sizes within the same commercial setting. The combination of pylon signage, multiple access points, and high-volume intersection visibility can be a practical fit for businesses that rely on straightforward customer wayfinding and strong exposure.
The center benefits from excellent visibility at a signalized intersection along Wayne Road and Cherry Hill Road. The provided traffic counts indicate more than 29,000 VPD on Wayne Road and more than 21,000 VPD on Cherry Hill Road, supporting consistent passing trade. The surrounding tenant mix is described as numerous national, regional, and local businesses, with more than 252,000 people reported within a five-mile radius.
For retailers and service users seeking flexible storefront footprints, the available unit range allows for different operating sizes within the same commercial setting. The combination of pylon signage, multiple access points, and high-volume intersection visibility can be a practical fit for businesses that rely on straightforward customer wayfinding and strong exposure.
Key Highlights
- Three retail units available from 600 to 12,546 SF
- Pylon signage available on both Wayne Road and Cherry Hill Road
- Multiple points of ingress and egress
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$278,666
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,573,320
$5.6M
Cap Rate 7%
$3,980,943
$4.0M
Cap Rate 9%
$3,096,289
$3.1M
Market Conditions
NOI Build-Up for 29,410 SF
Gross rent
$423.5K $14.40/SF
− Vacancy
−$25.4K −$0.86/SF
EGI
$398.1K $13.54/SF
− OpEx
−$119.4K −$4.06/SF
NOI
$278.7K $9.48/SF
Area
Wayne County, MI
Vacancy
6.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,573,320
Cap Rate 7%
$3,980,943
Cap Rate 9%
$3,096,289
Alternative Uses
Best Use
Retail
$3.98M
$3.48M – $4.64M
NOI $278,666 @ 7.0% cap
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.45M
$4.76M – $6.35M
NOI $381,154 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
310
Businesses Nearby
104k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 44%
Shops & Services 43%
Groceries 13%
Speedway
Shops & Services
25,448 visits/mo
0.1 miles
Wendy's
Dining
15,013 visits/mo
0.2 miles
Burger King
Dining
14,745 visits/mo
0.1 miles
Aldi
Groceries
13,639 visits/mo
0.4 miles
Bank of America
Shops & Services
8,208 visits/mo
0.1 miles
Demographics for 48186, MI
35,690
Population
14,543
Households
2.5
Avg Household Size
39
Median Age
19%
College-Educated
88%
High-School Grad
8.3 sq mi
ZIP Area
4,300
Density / Sq Mi
$67,203
Median Household Income
$37,591
Median Earnings
$1,083
Median Rent
$167,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Strip malls in Wayne County
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Strip mall - Three retail units are available, featuring pylon signage and strong visibility at a signalized intersection.
Where is this strip mall located?
The property is located at 148-206 S Wayne Road Westland, MI.
What are key features of this property?
This property features: Three retail units available from 600 to 12,546 SF; Pylon signage available on both Wayne Road and Cherry Hill Road; Multiple points of ingress and egress
