Downtown Mixed-Use Building with
New
For Sale
$1,095,000
28 S Washington St, Oxford, MI 48371
Six suites combine ground-floor retail with second-floor office space in Oxford’s central business district.
Property Size7,128 SF
Days on Market3
Property Features for 28 S Washington St
General Information
Standard status
Active
Size
7,128 SF
Property subtype
Commercial
Zoning
C-1 Core
Taxes and HOA fees
Annual Taxes
$10,245
Amenities
strolling walking mall area with benches
updated restrooms
multiple signage opportunity locations
Building Details
Building Size
7,128 SF
Year Built
1968
Buildings
1
Tenancy
Multi
Listed By:
Kathleen Sanchez
(248) 969-8018
Source:
Elliman
Added: Oct 16
Last Checked: Oct 16 at 2:18PM
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 Kathleen Sanchez
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Investment Insights
Based on property information with market context.
The Acheson Building is a 1968 mixed-use property with six suites, including street-level retail and second-floor offices. Retail suites have exterior entrances and large windows; office suites are served by a broad staircase and accessible hallways. The lower level has two access points and can accommodate storage or inventory. Building systems include four furnaces and four AC units, updated restrooms, a roof with a warranty, and separately metered utilities in most spaces. Multiple locations are available for signage.
At 28 S Washington St in Oxford, the property is zoned C-1 Core, Central Business District. Village Park is directly across the street, and the building is within the local social district, with dining, shopping, and entertainment within walking distance. M-24 provides visibility to vehicle traffic, alongside pedestrian activity.
At 28 S Washington St in Oxford, the property is zoned C-1 Core, Central Business District. Village Park is directly across the street, and the building is within the local social district, with dining, shopping, and entertainment within walking distance. M-24 provides visibility to vehicle traffic, alongside pedestrian activity.
Key Highlights
- Six suites with street‑level retail and second‑floor office space
- C‑1 Core, Central Business District zoning
- 1968 construction
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$76,700
Cap Rate
7.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,534,000
$1.5M
Cap Rate 7%
$1,095,714
$1.1M
Cap Rate 9%
$852,222
$852.2K
Market Conditions
NOI Build-Up for 7,128 SF
Gross rent
$119.8K $16.80/SF
− Vacancy
−$10.2K −$1.43/SF
EGI
$109.6K $15.37/SF
− OpEx
−$32.9K −$4.61/SF
NOI
$76.7K $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%
$1,534,000
Cap Rate 7%
$1,095,714
Cap Rate 9%
$852,222
Alternative Uses
Best Use
Retail
$1.10M
$958.8K – $1.28M
NOI $76,700 @ 7.0% cap · market cap 7.00%
Second Best
Mixed Use
$1.03M
$902.1K – $1.20M
NOI $72,171 @ 7.0% cap · market cap 6.59%
Theoretical Best
Specialty Retail
$1.54M
$1.35M – $1.79M
NOI $107,621 @ 7.0% cap · market cap 9.83%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
575
Businesses Nearby
Explore this area
Business Placement
Demographics for 48371, MI
25,272
Population
9,928
Households
2.5
Avg Household Size
41
Median Age
42%
College-Educated
96%
High-School Grad
46.2 sq mi
ZIP Area
547
Density / Sq Mi
$108,983
Median Household Income
$52,606
Median Earnings
$1,244
Median Rent
$352,500
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?
Mixed-use property - Six suites combine ground-floor retail with second-floor office space in Oxford’s central business district.
Where is this mixed-use property located?
The property is located at 28 S Washington St Oxford, MI.
What is the asking price?
The asking price for this property is $1,095,000.
What are key features of this property?
This property features: Six suites with street‑level retail and second‑floor office space; C‑1 Core, Central Business District zoning; 1968 construction
