Three-Unit Retail
28009 John R Road, Madison Heights, MI 48071
For Sale
$599,000
COM/IND/BUS OPP, Madison Heights, MI
Property Size2,800 SF
Lot Size0.46 Acres
Price / SF$213.93
Days on Market76
Property Features for 28009 John R Road
General Information
Property type
Property subtype
Parking features
Subdivision
Standard status
APN
Size
Lot size
Utilities
Heating system
Water source
Building Details
Year built
Roof type
Listing Agency:
Pilot Property Group - Residential LLC
(586) 254-0900
Listed By:
Alexander Termini · License MI #6501392648
(586) 291-0499
Added: Aug 27
Changed: Oct 8
Last Checked: Nov 10 at 7:06PM
MLS# 50219952
Copyright © 2026 Multiple Listing Service MiRealSource. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This retail property comprises a 2,800-square-foot, three-unit building on 0.46 acres. One unit was formerly used for dog grooming and washing, while two units are occupied and the remaining space is available for owner use or leasing. Building signage is available, and the property includes a parking lot.
Located at 28009 John R Road in Madison Heights, the property sits near I-696 and I-75. The building dates to 1953 and includes forced-air heating, public water service, and a shingle roof.
Located at 28009 John R Road in Madison Heights, the property sits near I-696 and I-75. The building dates to 1953 and includes forced-air heating, public water service, and a shingle roof.
Key Highlights
- Three‑unit retail building totaling 2,800 square feet
- 0.46‑acre property at 28009 John R Road, Madison Heights, MI 48071
- Two occupied units plus one available unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,129
Cap Rate
5.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$602,580
$602.6K
Cap Rate 7%
$430,414
$430.4K
Cap Rate 9%
$334,767
$334.8K
Market Conditions
NOI Build-Up for 2,800 SF
Gross rent
$47.0K $16.80/SF
− Vacancy
−$4.0K −$1.43/SF
EGI
$43.0K $15.37/SF
− OpEx
−$12.9K −$4.61/SF
NOI
$30.1K $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%
$602,580
Cap Rate 7%
$430,414
Cap Rate 9%
$334,767
Alternative Uses
Best Use
Retail
$430.4K
$376.6K – $502.2K
NOI $30,129 @ 7.0% cap · market cap 5.03%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$603.9K
$528.5K – $704.6K
NOI $42,276 @ 7.0% cap · market cap 7.06%
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
Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
653
Businesses Nearby
6k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
BIGGBY COFFEE
Dining
6,423 visits/mo
0.5 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
$190,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Retail space in Oakland County, MI
Properties on Market for Retail space in Oakland County
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - The property offers main-road frontage, a parking lot, and available building signage.
Where is this retail space located?
The property is located at 28009 John R Road Madison Heights, MI.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Three‑unit retail building totaling 2,800 square feet; 0.46‑acre property at 28009 John R Road, Madison Heights, MI 48071; Two occupied units plus one available unit
