Three-Unit Storefront
New
For Sale
$599,000
28009 John R Road, Madison Heights, MI 48071
The property includes on-site parking, building signage, and a former dog grooming and washing space.
Property Size2,800 SF
Price / SF$213.93
Days on Market7
Property Features for 28009 John R Road
General Information
Standard status
Active
Size
2,800 SF
Property subtype
Commercial
Additional Details
Gross Income
$27,600
Road Access
Yes
Tenant in Place
Yes
Amenities
Building Signage
Building Details
Building Size
2,800 SF
Year Built
1953
Buildings
1
Tenancy
Multi
Listing Agency:
Pilot Property Group - Residential LLC
Listed By:
Alexander Termini · License #6501392648
(586) 291-0499
Source:
Yourpremiereproperties
Added: Oct 22
Changed: Oct 25
Last Checked: Oct 26 at 4:05AM
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 Pilot Property Group - Residential LLC
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Investment Insights
Based on property information with market context.
This 2,800-square-foot storefront property was built in 1953 and is configured as a three-unit building. Two units are occupied, while the third—formerly used for dog grooming and washing—is available for occupancy or leasing. Building signage and on-site parking are also available.
The property is on John R Road, near I-696 and I-75.
The property is on John R Road, near I-696 and I-75.
Key Highlights
- Three‑unit building with 2,800 square feet
- Two occupied units; third unit available for occupancy or leasing
- Former dog grooming and washing space
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
Paved road access
Location Intelligence
Trade Area within ½ mile
653
Businesses Nearby
6k
Monthly Visits Nearby
Under-served
Demand for This Use
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
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- Kroger Floral — 2200 Twelve Mile Rd, Royal Oak, MI 48067
Frequently Asked Questions
What type of property is this?
Storefront property - The property includes on-site parking, building signage, and a former dog grooming and washing space.
Where is this storefront property 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 building with 2,800 square feet; Two occupied units; third unit available for occupancy or leasing; Former dog grooming and washing space
