Custom-Built Retail
For Sale
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21599 W Eleven Mile Rd Suite #100, Southfield, MI 48076
Custom buildout with on-site management and immediate availability in an Office-zoned commercial property.
Property Size8,520 SF
Price / SF$140.85
Days on Market176
Property Features for 21599 W Eleven Mile Rd Suite #100
General Information
Standard status
Active
Size
8,520 SF
Class
C
Property subtype
Retail
Zoning
Office
Lease Type
NNN
Amenities
on-site management
quality custom buildout
Building Details
Year Built
1974
Year Renovated
1994
Stories
1
Tenancy
Multi
Listing Agency:
Signature Associates Southfield
Listed By:
Chris Monsour · License #MI 6502135141
Source:
Crexi
Added: Mar 11
Changed: Aug 31
Last Checked: Sep 2 at 1:47AM
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 Signature Associates Southfield
Investment Insights
Based on property information with market context.
Suite 100 is a retail space within an 8,520-square-foot commercial property at 21599 W Eleven Mile Rd in Southfield, Michigan. The available area measures 3,000 square feet and includes a custom buildout, with occupancy available immediately. The property was built in 1974 and carries Office zoning.
On-site management is provided for the property. The suite’s location on W Eleven Mile Rd places it within the Southfield commercial market, while the suite designation and existing buildout provide a defined setting for retail use. Available physical details include the 3,000-square-foot suite, the 8,520-square-foot property, and the existing custom interior improvements.
On-site management is provided for the property. The suite’s location on W Eleven Mile Rd places it within the Southfield commercial market, while the suite designation and existing buildout provide a defined setting for retail use. Available physical details include the 3,000-square-foot suite, the 8,520-square-foot property, and the existing custom interior improvements.
Key Highlights
- 3,000 square feet available immediately
- Custom buildout in Suite 100
- 8,520‑square‑foot commercial property
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
$91,679
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
7.64%
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%
$1,833,580
$1.8M
Cap Rate 7%
$1,309,700
$1.3M
Cap Rate 9%
$1,018,656
$1.0M
Market Conditions
NOI Build-Up for 8,520 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
$143.1K $16.80/SF
− Vacancy
−$12.2K −$1.43/SF
EGI
$131.0K $15.37/SF
− OpEx
−$39.3K −$4.61/SF
NOI
$91.7K $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%
$1,833,580
Cap Rate 7%
$1,309,700
Cap Rate 9%
$1,018,656
Alternative Uses
Best Use
Retail
$1.31M
$1.15M – $1.53M
NOI $91,679 @ 7.0% cap · market cap 7.64%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.84M
$1.61M – $2.14M
NOI $128,638 @ 7.0% cap · market cap 10.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,291
Businesses Nearby
80k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 94%
Hotels & Casinos 6%
Dollar Tree
Shops & Services
25,003 visits/mo
0.1 miles
7-Eleven
Shops & Services
13,836 visits/mo
0.2 miles
Dollar General
Shops & Services
11,838 visits/mo
0.1 miles
Shell
Shops & Services
11,201 visits/mo
0.2 miles
Family Dollar
Shops & Services
6,777 visits/mo
0.2 miles
Demographics for 48076, MI
26,062
Population
11,016
Households
2.4
Avg Household Size
44
Median Age
44%
College-Educated
94%
High-School Grad
7.1 sq mi
ZIP Area
3,671
Density / Sq Mi
$85,171
Median Household Income
$50,210
Median Earnings
$1,451
Median Rent
$251,300
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 - Custom buildout with on-site management and immediate availability in an Office-zoned commercial property.
Where is this retail space located?
The property is located at 21599 W Eleven Mile Rd Suite #100 Southfield, MI.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 3,000 square feet available immediately; Custom buildout in Suite 100; 8,520‑square‑foot commercial property
