Historic Mixed-Use
For Sale
$2,189,000
27 S Main St, Clarkston, MI 48346
Updated mixed-use property with an upper level configured for residential or approved commercial use.
Property Size7,350 SF
Price / SF$297.82
Days on Market2215
Property Features for 27 S Main St
General Information
Standard status
Active
Size
7,350 SF
Total Parking Spaces
2
Property subtype
Retail
Building Details
Building Size
7,350 SF
Year Built
1922
Buildings
1
Stories
2
Listing Agency:
Thomas A. Duke Company
Listed By:
Joseph Evangelista
(248) 479-0128
Source:
Cpix.resimplifi
Added: Sep 26, 2020
Changed: Oct 7
Last Checked: Oct 16 at 5:57AM
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 A. Duke Company
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 7,350-square-foot, three-story mixed-use building dates to 1922 and combines historic character with substantial recent improvements. Interior and exterior work was completed within the last year, including updated MEP components, contemporary interior finishes, tuckpointing, painting, and fenestration improvements.
The top floor is currently residential and has a separate entrance. Its existing buildout can support commercial use with proper approval. A walkout basement faces a mass parking area, and the property includes two dedicated parking spaces.
Located in Downtown Clarkston, the building offers a vertically arranged configuration with distinct upper-level access and adaptable space across three floors.
The top floor is currently residential and has a separate entrance. Its existing buildout can support commercial use with proper approval. A walkout basement faces a mass parking area, and the property includes two dedicated parking spaces.
Located in Downtown Clarkston, the building offers a vertically arranged configuration with distinct upper-level access and adaptable space across three floors.
Key Highlights
- 7,350 SF mixed‑use building constructed in 1922
- Three‑story layout with separate entrance for the top floor
- Top floor currently residential and built out for commercial use with proper approval
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$74,419
Cap Rate
3.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,488,380
$1.5M
Cap Rate 7%
$1,063,129
$1.1M
Cap Rate 9%
$826,878
$826.9K
Market Conditions
NOI Build-Up for 7,350 SF
Gross rent
$132.3K $18.00/SF
− Vacancy
−$13.2K −$1.80/SF
EGI
$119.1K $16.20/SF
− OpEx
−$44.7K −$6.07/SF
NOI
$74.4K $10.13/SF
Area
Oakland County, MI
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,488,380
Cap Rate 7%
$1,063,129
Cap Rate 9%
$826,878
Alternative Uses
Best Use
Mixed Use
$1.06M
$930.2K – $1.24M
NOI $74,419 @ 7.0% cap · market cap 3.40%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.59M
$1.39M – $1.85M
NOI $110,973 @ 7.0% cap · market cap 5.07%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
392
Businesses Nearby
Explore this area
Business Placement
Demographics for 48346, MI
23,058
Population
10,157
Households
2.3
Avg Household Size
42
Median Age
41%
College-Educated
95%
High-School Grad
18.1 sq mi
ZIP Area
1,274
Density / Sq Mi
$97,857
Median Household Income
$49,935
Median Earnings
$1,360
Median Rent
$295,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Frequently Asked Questions
What type of property is this?
Mixed-use property - Updated mixed-use property with an upper level configured for residential or approved commercial use.
Where is this mixed-use property located?
The property is located at 27 S Main St Clarkston, MI.
What is the asking price?
The asking price for this property is $2,189,000.
What are key features of this property?
This property features: 7,350 SF mixed‑use building constructed in 1922; Three‑story layout with separate entrance for the top floor; Top floor currently residential and built out for commercial use with proper approval
