Renovated Restaurant
2705 Lapeer Rd, Auburn Hills, MI 48326
For Sale
$899,000
B-1-zoned commercial property with a flexible interior ready for office, retail, or restaurant improvements.
Property Size4,000 SF
Lot Size1.27 Acres
Price / SF$224.75
Days on Market51
Property Features for 2705 Lapeer Rd
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Site & Location
Highway Access
Road Access
Additional Details
Asking Price
Building Details
Year Built
Year Renovated
Buildings
Listing Agency:
Friedman Real Estate
Listed By:
Larry Schultz
(248) 867-2399
Source:
Friedmanrealestate
Added: Sep 20
Changed: Oct 26
Last Checked: Nov 8 at 3:17AM
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 Friedman Real Estate
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Investment Insights
Based on property information with market context.
This 4,000-square-foot commercial building occupies 1.27 acres and was previously used as a restaurant. The interior has been gutted, cleaned, and renovated, allowing the next owner to complete the space according to its requirements. A large parking area supports the building, while B-1 zoning accommodates office and retail possibilities identified for the property.
The site fronts Lapeer Rd at the Opdyke Rd merge, just south of the I-75 ramps. It is near the GM Orion assembly plant and the new Piston Automotive plant at the former Palace of Auburn Hills site. Built in 1975, the property combines an existing commercial structure, substantial land area, and a location positioned near major employment centers.
The site fronts Lapeer Rd at the Opdyke Rd merge, just south of the I-75 ramps. It is near the GM Orion assembly plant and the new Piston Automotive plant at the former Palace of Auburn Hills site. Built in 1975, the property combines an existing commercial structure, substantial land area, and a location positioned near major employment centers.
Key Highlights
- 4,000‑square‑foot building on 1.27 acres
- B‑1 zoning supports office and retail possibilities
- Interior gutted, cleaned, and renovated for completion
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,394
Cap Rate
6.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,207,880
$1.2M
Cap Rate 7%
$862,771
$862.8K
Cap Rate 9%
$671,044
$671.0K
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$86.4K $21.60/SF
− Vacancy
−$5.9K −$1.47/SF
EGI
$80.5K $20.13/SF
− OpEx
−$20.1K −$5.03/SF
NOI
$60.4K $15.10/SF
Area
Oakland County, MI
Vacancy
6.80%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,207,880
Cap Rate 7%
$862,771
Cap Rate 9%
$671,044
Alternative Uses
Best Use
Specialty Retail
$862.8K
$754.9K – $1.01M
NOI $60,394 @ 7.0% cap · market cap 6.72%
Second Best
Retail
$614.9K
$538.0K – $717.4K
NOI $43,042 @ 7.0% cap · market cap 4.79%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
599
Businesses Nearby
31k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 75%
Dining 23%
Home Improvements & Furnishings 2%
Chase Bank
Shops & Services
7,930 visits/mo
0.2 miles
7-Eleven
Shops & Services
7,786 visits/mo
0.3 miles
Arby's
Dining
7,248 visits/mo
0.4 miles
Marathon Petroleum
Shops & Services
4,125 visits/mo
0.3 miles
Shell
Shops & Services
2,801 visits/mo
0.2 miles
Demographics for 48326, MI
22,228
Population
12,219
Households
1.8
Avg Household Size
36
Median Age
47%
College-Educated
93%
High-School Grad
16.9 sq mi
ZIP Area
1,315
Density / Sq Mi
$79,468
Median Household Income
$46,012
Median Earnings
$1,411
Median Rent
$235,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Conventional restaurants in Oakland County, MI
Properties on Market for Conventional restaurants in Oakland County
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - B-1-zoned commercial property with a flexible interior ready for office, retail, or restaurant improvements.
Where is this conventional restaurant located?
The property is located at 2705 Lapeer Rd Auburn Hills, MI.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 4,000‑square‑foot building on 1.27 acres; B‑1 zoning supports office and retail possibilities; Interior gutted, cleaned, and renovated for completion
