Three-Unit Retail
New
For Sale
$1,000,000
2847 Coolidge Highway, Berkley, MI 48072
A multi-tenant retail property with on-site parking in downtown Berkley.
Property Size7,100 SF
Price / SF$140.92
Days on Market3
Property Features for 2847 Coolidge Highway
General Information
Standard status
Active
Size
7,100 SF
Property subtype
Retail
Building Details
Building Size
7,100 SF
Year Built
1948
Buildings
1
Tenancy
Multi
Listing Agency:
NAI Farbman - Corporate
Listed By:
Rick Ax · License #6506040861
(248) 842-0314
Source:
Naiglobal
Added: Oct 20
Changed: Oct 21
Last Checked: Oct 21 at 2:26PM
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 NAI Farbman - Corporate
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 three-unit retail building contains 7,096 square feet and was built in 1948. On-site parking serves the property, which is presented for sale for investment or user occupancy.
The building is on Coolidge Highway in downtown Berkley, south of 12 Mile. Other shopping and restaurants are within walking distance.
The building is on Coolidge Highway in downtown Berkley, south of 12 Mile. Other shopping and restaurants are within walking distance.
Key Highlights
- Three retail units
- 7,096‑square‑foot building
- Built in 1948
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$76,356
Cap Rate
7.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,527,120
$1.5M
Cap Rate 7%
$1,090,800
$1.1M
Cap Rate 9%
$848,400
$848.4K
Market Conditions
NOI Build-Up for 7,096 SF
Gross rent
$119.2K $16.80/SF
− Vacancy
−$10.1K −$1.43/SF
EGI
$109.1K $15.37/SF
− OpEx
−$32.7K −$4.61/SF
NOI
$76.4K $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%
$1,527,120
Cap Rate 7%
$1,090,800
Cap Rate 9%
$848,400
Alternative Uses
Best Use
Retail
$1.09M
$954.5K – $1.27M
NOI $76,356 @ 7.0% cap · market cap 7.64%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.53M
$1.34M – $1.79M
NOI $107,138 @ 7.0% cap · market cap 10.71%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
826
Businesses Nearby
44k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 73%
Shops & Services 27%
Taco Bell
Dining
15,399 visits/mo
0.3 miles
Little Caesars Pizza
Dining
8,826 visits/mo
0.4 miles
Sunoco
Shops & Services
5,884 visits/mo
0.3 miles
PNC Bank
Shops & Services
5,223 visits/mo
0.4 miles
Bagger Dave's
Dining
4,283 visits/mo
0.1 miles
Demographics for 48072, MI
15,194
Population
7,068
Households
2.1
Avg Household Size
38
Median Age
58%
College-Educated
99%
High-School Grad
2.4 sq mi
ZIP Area
6,331
Density / Sq Mi
$113,103
Median Household Income
$68,818
Median Earnings
$1,436
Median Rent
$289,200
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - A multi-tenant retail property with on-site parking in downtown Berkley.
Where is this retail space located?
The property is located at 2847 Coolidge Highway Berkley, MI.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Three retail units; 7,096‑square‑foot building; Built in 1948
