Standalone Storefront
For Sale
$400,000
26529 John R Road, Madison Heights, MI 48071
Concrete-block construction and City Center zoning support flexible commercial use.
Property Size1,973 SF
Lot Size0.25 Acres
Price / SF$202.74
Days on Market26
Property Features for 26529 John R Road
General Information
Standard status
Active
Size
1,973 SF
Lot size
0.25 Acres
Property subtype
Commercial
Zoning
Commercial, Multi-Family, Multiple, Offi
Site & Location
Traffic Count
21,000 vehicles/day
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$4,395
Building Details
Building Size
1,973 SF
Year Built
1958
Buildings
1
Stories
1
Construction
concrete block
Listing Agency:
Brookstone, Realtors LLC
(248) 564-6071
Listed By:
Julia L Myers
(248) 564-6071
Source:
Phgrealty
Added: Jul 29
Changed: Aug 23
Last Checked: Aug 23 at 10:09AM
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 Brookstone, Realtors LLC
Investment Insights
Based on property information with market context.
The property includes an existing and operating 1,973-square-foot concrete block commercial building constructed in 1958 at 26529 John R Rd. The standalone building sits on a 0.245-acre parcel with 100 linear feet of frontage along John R Road.
The 2024 “CC” City Center zoning designation supports a range of stated uses, including retail, office, residential, food, and drive-through occupancy. The zoning also allows high-density development up to 4 stories, including mixed-use concepts with retail below residential space. The John R corridor records 21,000+ average vehicles per day, while the property has a Walk Score of 69 and a Bike Score of 50.
The 2024 “CC” City Center zoning designation supports a range of stated uses, including retail, office, residential, food, and drive-through occupancy. The zoning also allows high-density development up to 4 stories, including mixed-use concepts with retail below residential space. The John R corridor records 21,000+ average vehicles per day, while the property has a Walk Score of 69 and a Bike Score of 50.
Key Highlights
- 1,973‑square‑foot existing and operating concrete block commercial building
- 0.245‑acre parcel with 100 linear feet of frontage on John R Road
- 2024 “CC” City Center high‑density zoning
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
$21,230
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
5.31%
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%
$424,600
$424.6K
Cap Rate 7%
$303,286
$303.3K
Cap Rate 9%
$235,889
$235.9K
Market Conditions
NOI Build-Up for 1,973 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
$33.1K $16.80/SF
− Vacancy
−$2.8K −$1.43/SF
EGI
$30.3K $15.37/SF
− OpEx
−$9.1K −$4.61/SF
NOI
$21.2K $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%
$424,600
Cap Rate 7%
$303,286
Cap Rate 9%
$235,889
Alternative Uses
Best Use
Retail
$303.3K
$265.4K – $353.8K
NOI $21,230 @ 7.0% cap · market cap 5.31%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$425.6K
$372.4K – $496.5K
NOI $29,789 @ 7.0% cap · market cap 7.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
21,000 VPD
Traffic count
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
510
Businesses Nearby
28k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 60%
Dining 35%
Beauty & Spa 5%
7-Eleven
Shops & Services
7,240 visits/mo
0.4 miles
BIGGBY COFFEE
Dining
6,423 visits/mo
0.2 miles
Mobil
Shops & Services
4,747 visits/mo
0.3 miles
BP
Shops & Services
4,587 visits/mo
0.3 miles
Jet's Pizza
Dining
2,247 visits/mo
0.2 miles
Demographics for 48071, MI
28,468
Population
14,690
Households
1.9
Avg Household Size
39
Median Age
32%
College-Educated
89%
High-School Grad
7.1 sq mi
ZIP Area
4,010
Density / Sq Mi
$66,726
Median Household Income
$49,151
Median Earnings
$1,138
Median Rent
$190,300
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?
Storefront property - Concrete-block construction and City Center zoning support flexible commercial use.
Where is this storefront property located?
The property is located at 26529 John R Road Madison Heights, MI.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 1,973‑square‑foot existing and operating concrete block commercial building; 0.245‑acre parcel with 100 linear feet of frontage on John R Road; 2024 “CC” City Center high‑density zoning
