Retail Building with
For Sale
$459,000
2680 Coolidge Hwy, Berkley, MI 48072
Retail building with parking in downtown Berkley.
Property Size1,200 SF
Lot Size0.06 Acres
Price / SF$382.50
Days on Market155
Property Features for 2680 Coolidge Hwy
General Information
Standard status
Active
Size
1,200 SF
Lot size
0.06 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$4,373
Building Details
Building Size
1,200 SF
Year Built
1954
Listing Agency:
Devonshire Realty
(248) 347-3800
Listed By:
Essam Sackllah
(248) 347-3800
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 2:00PM
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 Devonshire Realty
Investment Insights
Based on property information with market context.
This retail building is located in the downtown strip, an area known for walkability from Coolidge to 12 Mile and along 12 Mile. The building dimensions are 20 x 60 feet, with a 20 x 60 foot rear yard that could be used as outdoor seating for a food business. The interior is completely updated with lighting, flooring, and paint, and features an open layout, an office, a half bath, a furnace room, and a storage room. The building has a 100 amp service. The roof was replaced in 2015, and the heating and air conditioning systems, installed in 2008, are serviced yearly. There are six parking spaces on the owner's lot in the back of the building, as well as 33 parking spaces directly behind the building belonging to the city. Additional parking is available in front of the store. A new recreation complex is located behind the shop, and Berkley High School is across the street. Traffic counts are 17,836 on Coolidge in front of the building and 18,950 on 12 Mile by the intersection of Coolidge. The 32-car city parking in the rear can be used by tenants or the owner with permits.
Key Highlights
- High‑traffic location on Coolidge Highway and near 12 Mile Road.
- Ample parking with 6 spaces on owner's lot and 33 city‑owned spaces directly behind.
- Completely updated interior** with new lighting, flooring, and paint; open layout.
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
$12,912
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
2.81%
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%
$258,240
$258.2K
Cap Rate 7%
$184,457
$184.5K
Cap Rate 9%
$143,467
$143.5K
Market Conditions
NOI Build-Up for 1,200 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
$20.2K $16.80/SF
− Vacancy
−$1.7K −$1.43/SF
EGI
$18.4K $15.37/SF
− OpEx
−$5.5K −$4.61/SF
NOI
$12.9K $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%
$258,240
Cap Rate 7%
$184,457
Cap Rate 9%
$143,467
Alternative Uses
Best Use
Retail
$184.5K
$161.4K – $215.2K
NOI $12,912 @ 7.0% cap · market cap 2.81%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$258.8K
$226.5K – $302.0K
NOI $18,118 @ 7.0% cap · market cap 3.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
826
Businesses Nearby
44k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 73%
Shops & Services 27%
Taco Bell
Dining
15,399 visits/mo
0.3 miles
Little Caesars Pizza
Dining
8,826 visits/mo
0.4 miles
Sunoco
Shops & Services
5,884 visits/mo
0.3 miles
PNC Bank
Shops & Services
5,223 visits/mo
0.4 miles
Bagger Dave's
Dining
4,283 visits/mo
0.1 miles
Demographics for 48072, MI
15,194
Population
7,068
Households
2.1
Avg Household Size
38
Median Age
58%
College-Educated
99%
High-School Grad
2.4 sq mi
ZIP Area
6,331
Density / Sq Mi
$113,103
Median Household Income
$68,818
Median Earnings
$1,436
Median Rent
$289,200
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Endless Flowers — 3678 W Eleven Mile Rd, Berkley, MI 48072
Frequently Asked Questions
What type of property is this?
Storefront property - Retail building with parking in downtown Berkley.
Where is this storefront property located?
The property is located at 2680 Coolidge Hwy Berkley, MI.
What is the asking price?
The asking price for this property is $459,000.
What are key features of this property?
This property features: High‑traffic location on Coolidge Highway and near 12 Mile Road.; Ample parking with 6 spaces on owner's lot and 33 city‑owned spaces directly behind.; Completely updated interior** with new lighting, flooring, and paint; open layout.
