Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Retail/Office Space on Union Lake Title is generated by Realmo AI

    1529-1575 Union Lake Rd, Commerce Township, MI 48382

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    High-visibility retail/office spaces in a high-traffic area.

    Type:Retail
    Added:
    Nov 19, 2022
    Days on Market:
    1293
    Last Refresh:
    May 12 at 8:37 pm

    Property Features for 1529-1575 Union Lake Rd

    General Information

    Standard status
    Active
    Property subtype
    Retail

    Building Details

    Year Built
    1974

    Spaces For Lease

    at 1529-1575 Union Lake Rd Contact us

    Suite 1549 $12/Mo

    Size
    1,281 SF
    Type
    Retail
    Contact us

    Suite 1545 $12/Mo

    Size
    1,528 SF
    Type
    Retail
    Contact us

    Suite 1539 $12/Mo

    Size
    1,620 SF
    Type
    Retail
    Contact us

    Suite 1529 $12/Mo

    Size
    1,670 SF
    Type
    Retail
    Contact us

    We can help!

    Listing Contact
    Mojahed Abubars

    Listing agent Mojahed Abubars License #6506046863

    Listing office Insite Commercial

    Listing date Nov 19, 2022

    Source Crexi

    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 Insite Commercial

    HighLights

    • High traffic location with 45,000 vehicles per day on Union Lake and Cooley Lake Roads.
    • Newly white boxed retail spaces suitable for retail or office use.
    • Great visibility on Union Lake Road.
    • Access to Cooley Lake Road.
    • Abundance of parking.
    • Convenient ingress‑egress due to stop light access.

    Overview

    This mixed-use property is located in a high-traffic area at the intersection of Union Lake and Cooley Lake roads, which sees a combined traffic count of 45,000 vehicles per day. The available spaces have been newly white boxed and are suitable for both retail and office use. The building offers high visibility on Union Lake Road, with access to Cooley Lake Road. The shopping center provides an abundance of parking and is situated at a stop light, facilitating convenient ingress and egress.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Commerce Township
    County
    Oakland
    State
    Michigan
    Longitude
    -83.4458767
    Latitude
    42.6134533

    Nearby Similar for Lease

    • $20 SF/Yr
      2,040 SF

      Retail/Office Space on Union Lake

      2,040 SF retail/office space for lease on Union Lake Road.
      2579 Union Lake Rd, CommerceCharterTownship_Oakland, MI 48382
      View Details
    • $19 SF/Yr
      1,052 SF

      Medical Building on Union Lake

      Professionally managed medical building in a growing community.
      8391 Commerce Rd, Commerce Township, MI
      View Details
    • Contact for pricing
      3,482 SF

      End-Cap Retail Space with Drive-Thru

      3,482 SF end-cap space with drive-thru, monument signage.
      2141 N Pontiac Trail, Commerce Township, MI
      View Details
    • Contact for pricing
      11,000 SF

      Retail, Office

      3053 Union Lake Road, Commerce Township, MI 48382
      View Details
    • Contact for pricing
      1,450 SF

      Retail Center Space Available

      Well-maintained retail center with spaces suitable for various uses.
      4052-4100 Haggerty Rd, Commerce Township, MI
      View Details
    • $7 SF/Yr

      Industrial Units For Rent

      Industrial units available for rent with shared truckwell.
      3275-3285 Martin Road, Commerce Township, MI 48390
      View Details
    • Contact for pricing

      Commercial Space for Lease

      Commercial space available for lease in Commerce Township, Michigan.
      8350 Richardson Avenue, Commerce Township, MI 48382
      View Details

    FAQs

    What type of property is this?
    Retail space - High-visibility retail/office spaces in a high-traffic area.
    Where is this retail space located?
    The property is located at 1529-1575 Union Lake Rd Commerce Township, MI.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: High traffic location with 45,000 vehicles per day on Union Lake and Cooley Lake Roads.; Newly white boxed retail spaces suitable for retail or office use.; Great visibility on Union Lake Road.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Mojahed Abubars
    Real Estate License ID: 6506046863
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1529-1575 Union Lake Rd, Commerce Charter Township, MI 48382
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!