Town Center Retail
For Sale
Contact for pricing
25806 Novi Road, Novi, MI 48375
Retail property with Novi Road frontage and TC-1 Town Center-1 zoning.
Property Size6,200 SF
Price / SF$221.77
Days on Market53
Property Features for 25806 Novi Road
General Information
Standard status
Active
Size
6,200 SF
Property subtype
Retail, Office, Industrial
Zoning
TC-1 Town Center-1
Investment Type
Redevelopment
Additional Details
Road Access
Yes
Building Details
Stories
1
Listing Agency:
Thomas Duke Company
Listed By:
Mark Szerlag · License #MI 6502342846
(248) 476-3700
Source:
Crexi
Added: Aug 28
Changed: Oct 11
Last Checked: Oct 19 at 4:50AM
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 Thomas Duke Company
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Investment Insights
Based on property information with market context.
This retail property consists of commercial buildings positioned along Novi Road. The site is zoned TC-1 Town Center-1, providing a defined town center land-use designation.
The property is located on the east side of Novi Road, just south of Grand River Avenue, in Novi, Michigan. Its Novi Road frontage establishes direct exposure along the corridor, while the location near Grand River Avenue provides a clear geographic reference for prospective users.
The property is located on the east side of Novi Road, just south of Grand River Avenue, in Novi, Michigan. Its Novi Road frontage establishes direct exposure along the corridor, while the location near Grand River Avenue provides a clear geographic reference for prospective users.
Key Highlights
- Commercial buildings with Novi Road frontage
- TC‑1 Town Center‑1 zoning
- East side of Novi Road, just south of Grand River Avenue
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$66,714
Cap Rate
4.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,334,280
$1.3M
Cap Rate 7%
$953,057
$953.1K
Cap Rate 9%
$741,267
$741.3K
Market Conditions
NOI Build-Up for 6,200 SF
Gross rent
$104.2K $16.80/SF
− Vacancy
−$8.9K −$1.43/SF
EGI
$95.3K $15.37/SF
− OpEx
−$28.6K −$4.61/SF
NOI
$66.7K $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 Rate 5%
$1,334,280
Cap Rate 7%
$953,057
Cap Rate 9%
$741,267
Alternative Uses
Best Use
Retail
$953.1K
$833.9K – $1.11M
NOI $66,714 @ 7.0% cap · market cap 4.85%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.34M
$1.17M – $1.56M
NOI $93,610 @ 7.0% cap · market cap 6.81%
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
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
877
Businesses Nearby
Explore this area
Business Placement
Demographics for 48375, MI
23,237
Population
10,223
Households
2.3
Avg Household Size
40
Median Age
63%
College-Educated
98%
High-School Grad
8.4 sq mi
ZIP Area
2,766
Density / Sq Mi
$112,978
Median Household Income
$70,326
Median Earnings
$1,880
Median Rent
$348,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - Retail property with Novi Road frontage and TC-1 Town Center-1 zoning.
Where is this retail space located?
The property is located at 25806 Novi Road Novi, MI.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: Commercial buildings with Novi Road frontage; TC‑1 Town Center‑1 zoning; East side of Novi Road, just south of Grand River Avenue
