Showroom with Open Floor
For Sale
$4,700,000
29145 Telegraph Rd, Southfield, MI 48034
The property carries B-3 zoning and includes on-site parking for a range of commercial uses.
Property Size23,337 SF
Lot Size1.12 Acres
Price / SF$201.40
Days on Market13
Property Features for 29145 Telegraph Rd
General Information
Standard status
Active
Size
23,337 SF
Total Parking Spaces
55
Lot size
1.12 Acres
Property subtype
Retail
Zoning
B-3
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Land Use
commercial
Building Details
Building Size
23,337 SF
Year Built
1966
Year Renovated
2006
Listing Agency:
Signature Associates - Southfield
(248) 948-0109
Listed By:
Chris D'Angelo · License #6501312404
(248) 948-0109
Source:
Cpix.resimplifi
Added: Aug 20
Changed: Aug 30
Last Checked: Aug 31 at 12:45PM
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 Signature Associates - Southfield
Investment Insights
Based on property information with market context.
This showroom property includes a 23,337-square-foot commercial structure with expansive open floor space, prominent signage, and on-site parking. Built in 1966, the building offers immediate functionality for showroom and retail operations, with the source information also identifying medical, educational, fitness, and specialty commercial uses. The site is positioned for continued occupancy, repositioning, adaptive reuse, or ground-up redevelopment.
The property occupies approximately 1.12 acres along Telegraph Road in Southfield, near 12 Mile Road. Regional access includes proximity to M-10 and I-696, while the surrounding corridor includes national retailers. B-3 zoning is in place, providing the stated commercial land-use designation for the property.
The property occupies approximately 1.12 acres along Telegraph Road in Southfield, near 12 Mile Road. Regional access includes proximity to M-10 and I-696, while the surrounding corridor includes national retailers. B-3 zoning is in place, providing the stated commercial land-use designation for the property.
Key Highlights
- 23,337‑square‑foot commercial showroom structure
- Approximately 1.12‑acre site along Telegraph Road
- Expansive open floor space with prominent signage
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
$251,115
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
5.34%
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%
$5,022,300
$5.0M
Cap Rate 7%
$3,587,357
$3.6M
Cap Rate 9%
$2,790,167
$2.8M
Market Conditions
NOI Build-Up for 23,337 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
$392.1K $16.80/SF
− Vacancy
−$33.3K −$1.43/SF
EGI
$358.7K $15.37/SF
− OpEx
−$107.6K −$4.61/SF
NOI
$251.1K $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 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%
$5,022,300
Cap Rate 7%
$3,587,357
Cap Rate 9%
$2,790,167
Alternative Uses
Best Use
Retail
$3.59M
$3.14M – $4.19M
NOI $251,115 @ 7.0% cap · market cap 5.34%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.03M
$4.40M – $5.87M
NOI $352,351 @ 7.0% cap · market cap 7.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,475
Businesses Nearby
483k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 37%
Shops & Services 23%
Groceries 21%
Electronics 10%
Meijer
Groceries
103,754 visits/mo
0.2 miles
Chick-fil-A
Dining
65,483 visits/mo
0.4 miles
Best Buy
Electronics
37,721 visits/mo
0.5 miles
Lowe's
Home Improvements & Furnishings
30,036 visits/mo
0.3 miles
BP
Shops & Services
28,750 visits/mo
0.2 miles
Demographics for 48034, MI
14,480
Population
8,634
Households
1.7
Avg Household Size
43
Median Age
40%
College-Educated
96%
High-School Grad
4.3 sq mi
ZIP Area
3,367
Density / Sq Mi
$59,634
Median Household Income
$40,068
Median Earnings
$1,275
Median Rent
$259,400
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Lowe's Home Improvement — 28650 Telegraph Rd, Southfield, MI 48034
Frequently Asked Questions
What type of property is this?
Showroom - The property carries B-3 zoning and includes on-site parking for a range of commercial uses.
Where is this showroom located?
The property is located at 29145 Telegraph Rd Southfield, MI.
What is the asking price?
The asking price for this property is $4,700,000.
What are key features of this property?
This property features: 23,337‑square‑foot commercial showroom structure; Approximately 1.12‑acre site along Telegraph Road; Expansive open floor space with prominent signage
