Occupied Retail
For Sale
Contact for pricing
15801-15861 Southfield Road, Allen Park, MI 48101
C-5-zoned center offers flexible suite configurations for retail occupancy.
Property Size26,335 SF
Price / SF$132.90
Days on Market90
Property Features for 15801-15861 Southfield Road
General Information
Standard status
Active
Size
26,335 SF
Class
C
Property subtype
Retail
Zoning
C-5
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Building Details
Year Built
1962
Units
3
Tenancy
Multi
Listing Agency:
NAI Farbman Southfield
Listed By:
Mario Giglio · License #6501415206
(248) 302-0127
Source:
Crexi
Added: Jul 21
Changed: Oct 10
Last Checked: Oct 16 at 8:15AM
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 Southfield
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Allen Park Plaza is a retail shopping center with flexible suite sizes and full occupancy by national and regional tenants. The property has undergone recent capital improvements and was built in 1962.
Located at 15801 Southfield Road in Allen Park, Michigan, the center carries C-5 zoning and provides an established retail setting for its occupied tenant mix.
Located at 15801 Southfield Road in Allen Park, Michigan, the center carries C-5 zoning and provides an established retail setting for its occupied tenant mix.
Key Highlights
- 100% occupied by national and regional tenants
- Recent capital improvements completed
- C‑5 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$249,529
Cap Rate
7.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,990,580
$5.0M
Cap Rate 7%
$3,564,700
$3.6M
Cap Rate 9%
$2,772,544
$2.8M
Market Conditions
NOI Build-Up for 26,335 SF
Gross rent
$379.2K $14.40/SF
− Vacancy
−$22.8K −$0.86/SF
EGI
$356.5K $13.54/SF
− OpEx
−$106.9K −$4.06/SF
NOI
$249.5K $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%
$4,990,580
Cap Rate 7%
$3,564,700
Cap Rate 9%
$2,772,544
Alternative Uses
Best Use
Retail
$3.56M
$3.12M – $4.16M
NOI $249,529 @ 7.0% cap · market cap 7.13%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.88M
$4.27M – $5.69M
NOI $341,302 @ 7.0% cap · market cap 9.75%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
862
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48101, MI
28,664
Population
12,413
Households
2.3
Avg Household Size
41
Median Age
30%
College-Educated
94%
High-School Grad
7.0 sq mi
ZIP Area
4,095
Density / Sq Mi
$80,045
Median Household Income
$51,658
Median Earnings
$1,181
Median Rent
$174,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- Secretary of State Self-Service Station — 15800 White Ave, Allen Park, MI 48101
Frequently Asked Questions
What type of property is this?
Shopping center - C-5-zoned center offers flexible suite configurations for retail occupancy.
Where is this shopping center located?
The property is located at 15801-15861 Southfield Road Allen Park, MI.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 100% occupied by national and regional tenants; Recent capital improvements completed; C‑5 zoning
