Free Standing Commercial
29049 Joy Road Westland, MI 48185
29049 Joy Road, Westland, MI, 48185
Contact for pricing
For Sale
Contact for pricing
Pending
3,200 sqft commercial building suitable for various uses.
Property Size3,153 SF
Days on Market69
Property Features for 29049 Joy Road
General Information
- Standard status
- Pending
- Size
- 3,153 SF
- Property subtype
- Office, Retail
Building Details
- Year Built
- 1966
Listing Agency
CENTURY 21 Curran & Oberski Dearborn Heights
(313) 203-8215
Listed by
Dave Abdallah · License #MI
Source
Crexi
Added: May 14 Updated: Jul 10 at 3:58 pm Checked: Jul 20 at 2:50 am
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 CENTURY 21 Curran & Oberski Dearborn Heights
Investment Insights
Based on property information with market context.
This is a 3,200 sqft free standing corner commercial building. Formerly operated as a bank, the property features a large open area suitable as a lobby or waiting area, 4 offices, an employee lounge/kitchenette, and ample storage space. It also includes 3 bathrooms and a large parking lot with drive-through availability. The property could be used as a professional office space, medical office, day care center, retail space, and more.
Key Highlights
- 3,200 sqft free standing corner commercial building with a huge parking lot and drive‑through.
- Versatile space suitable for professional office, medical office, day care center, or retail.
- Features a large open area ideal for a lobby or waiting area.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $56.8k | $18.00 |
| − Vacancy | −$2.3k | −$0.72 |
| EGI | $54.5k | $17.28 |
| − OpEx | −$13.6k | −$4.32 |
| NOI | $40.9k | $12.96 |
3,153 SF · lease $18.00/SF/yr · vacancy 4.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$583.8K
$510.8K – $681.1K
NOI $40,863 @ 7.0% cap · market cap 4.13%
Second Best
Retail
$426.8K
$373.4K – $497.9K
NOI $29,875 @ 7.0% cap · market cap 3.02%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Flagstar Bank
Bank
ATM (Flagstar Bank)
Atm
Similar For Sale Nearby
FAQs
What type of property is this?
Bank - 3,200 sqft commercial building suitable for various uses.
Where is this bank located?
The property is located at 29049 Joy Road Westland, MI.
What is the asking price?
The asking price for this property is $989,800.
What are key features of this property?
This property features: 3,200 sqft free standing corner commercial building with a huge parking lot and drive‑through.; Versatile space suitable for professional office, medical office, day care center, or retail.; Features a large open area ideal for a lobby or waiting area.
