Versatile Retail/Office Space
For Sale
Contact for pricing
29010 W 8 Mile Rd, Farmington Hills, MI 48336
Adaptable commercial space suitable for office, medical, or retail use.
Property Size3,110 SF
Price / SF$154.02
Days on Market188
Property Features for 29010 W 8 Mile Rd
General Information
Standard status
Active
Size
3,110 SF
Property subtype
Retail
Zoning
B1
Investment Type
Owner/User
Building Details
Year Built
1976
Units
2
Listing Agency:
L. Mason Capitani
(248) 637-9700
Listed By:
Robert Gojcaj · License #MI 6501377415
Source:
Crexi
Added: Feb 9
Changed: Aug 10
Last Checked: Aug 14 at 6:00AM
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 L. Mason Capitani
Investment Insights
Based on property information with market context.
This 3,110-square-foot commercial space is suitable for general office, medical, or retail use. It presents an excellent opportunity for an owner/user. The property benefits from prominent signage opportunities along 8 Mile Road. The layout is flexible and divisible into three smaller suites. Located near the intersection of 8 Mile Road and Telegraph Road, it is in close proximity to I-696. Ample on-site parking is available. The floor plan is adaptable to accommodate multiple layouts.
Key Highlights
- Excellent owner/user opportunity
- Prominent signage opportunity along 8 Mile Road
- Flexible layout – divisible into 3 smaller suites
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$33,465
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.99%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$669,300
$669.3K
Cap Rate 7%
$478,071
$478.1K
Cap Rate 9%
$371,833
$371.8K
Market Conditions
NOI Build-Up for 3,110 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$52.2K $16.80/SF
− Vacancy
−$4.4K −$1.43/SF
EGI
$47.8K $15.37/SF
− OpEx
−$14.3K −$4.61/SF
NOI
$33.5K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$669,300
Cap Rate 7%
$478,071
Cap Rate 9%
$371,833
Alternative Uses
Best Use
Retail
$478.1K
$418.3K – $557.8K
NOI $33,465 @ 7.0% cap · market cap 6.99%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$670.8K
$587.0K – $782.6K
NOI $46,956 @ 7.0% cap · market cap 9.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
872
Businesses Nearby
68k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 71%
Shops & Services 27%
Electronics 2%
Apparel 1%
Taco Bell
Dining
15,672 visits/mo
0.3 miles
White Castle
Dining
13,051 visits/mo
0.2 miles
Wendy's
Dining
11,264 visits/mo
0.1 miles
KFC
Dining
7,635 visits/mo
0.5 miles
Marathon
Shops & Services
7,098 visits/mo
0.2 miles
Demographics for 48336, MI
26,802
Population
12,296
Households
2.2
Avg Household Size
42
Median Age
44%
College-Educated
92%
High-School Grad
9.3 sq mi
ZIP Area
2,882
Density / Sq Mi
$85,325
Median Household Income
$54,077
Median Earnings
$1,141
Median Rent
$247,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Adaptable commercial space suitable for office, medical, or retail use.
Where is this retail space located?
The property is located at 29010 W 8 Mile Rd Farmington Hills, MI.
What is the asking price?
The asking price for this property is $479,000.
What are key features of this property?
This property features: Excellent owner/user opportunity; Prominent signage opportunity along 8 Mile Road; Flexible layout – divisible into 3 smaller suites
