Commercial Land with
For Sale
$1,500,000
22575 Telegraph Rd, Southfield, MI 48033
I-1-zoned development site with approved site plan, dual roadway access, parking, and drive-through capability.
Property Size8,000 SF
Price / SF$187.50
Days on Market129
Property Features for 22575 Telegraph Rd
General Information
Standard status
Active
Size
8,000 SF
Property subtype
Retail
Zoning
I-1
Building Details
Building Size
8,000 SF
Listing Agency:
Keystone Commercial Real Estate
Listed By:
Kathleen Garmo · License #6501415998
(248) 406-1761
Source:
Cpix.resimplifi
Added: Apr 27
Changed: Aug 30
Last Checked: Aug 30 at 4:16AM
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 Keystone Commercial Real Estate
Investment Insights
Based on property information with market context.
This 0.95-acre commercial land offering is designated I-1 and supported by site plan approval from the City. The planned development accommodates approximately 1,500 to 8,000 square feet and includes a drive-through component with parking provisions.
Access is available from both Telegraph Road and Nine Mile Road, providing two roadway entry points. The property is positioned along a high-traffic corridor and is identified at 22575 Telegraph Rd in Southfield, Michigan.
Access is available from both Telegraph Road and Nine Mile Road, providing two roadway entry points. The property is positioned along a high-traffic corridor and is identified at 22575 Telegraph Rd in Southfield, Michigan.
Key Highlights
- 0.95‑acre I‑1‑zoned commercial land site
- Site plan approval from the City for new development
- Planned 1,500‑8,000 SF development
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
$86,083
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
5.74%
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%
$1,721,660
$1.7M
Cap Rate 7%
$1,229,757
$1.2M
Cap Rate 9%
$956,478
$956.5K
Market Conditions
NOI Build-Up for 8,000 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
$134.4K $16.80/SF
− Vacancy
−$11.4K −$1.43/SF
EGI
$123.0K $15.37/SF
− OpEx
−$36.9K −$4.61/SF
NOI
$86.1K $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%
$1,721,660
Cap Rate 7%
$1,229,757
Cap Rate 9%
$956,478
Alternative Uses
Best Use
Retail
$1.23M
$1.08M – $1.43M
NOI $86,083 @ 7.0% cap · market cap 5.74%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.73M
$1.51M – $2.01M
NOI $120,787 @ 7.0% cap · market cap 8.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
503
Businesses Nearby
48k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 68%
Shops & Services 31%
Home Improvements & Furnishings 1%
White Castle
Dining
12,133 visits/mo
0.1 miles
Taco Bell
Dining
9,345 visits/mo
0.1 miles
Wendy's
Dining
9,086 visits/mo
0.2 miles
BP
Shops & Services
5,370 visits/mo
0.0 miles
Marathon
Shops & Services
4,015 visits/mo
0.0 miles
Demographics for 48033, MI
17,207
Population
9,198
Households
1.9
Avg Household Size
47
Median Age
33%
College-Educated
93%
High-School Grad
9.1 sq mi
ZIP Area
1,891
Density / Sq Mi
$55,599
Median Household Income
$45,192
Median Earnings
$1,242
Median Rent
$195,100
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?
Commercial land - I-1-zoned development site with approved site plan, dual roadway access, parking, and drive-through capability.
Where is this commercial land located?
The property is located at 22575 Telegraph Rd Southfield, MI.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 0.95‑acre I‑1‑zoned commercial land site; Site plan approval from the City for new development; Planned 1,500‑8,000 SF development
