Freestanding Building on 1.4
For Sale
$2,399,000
29710 Wixom Road, Wixom, MI 48393
6,926 SF remodeled building on 1.4 acres for sale.
Property Size6,926 SF
Lot Size1.40 Acres
Price / SF$346.38
Days on Market157
Property Features for 29710 Wixom Road
General Information
Standard status
Active
Size
6,926 SF
Lot size
1.40 Acres
Property subtype
Retail
Building Details
Building Size
6,926 SF
Year Built
1997
Listing Agency:
KJ Commercial
(248) 631-7422
Listed By:
Preston Rabban · License #MI #6501391831
(248) 631-7422
Source:
Kjcre
Added: Mar 27
Changed: Aug 26
Last Checked: Aug 29 at 8:44AM
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 KJ Commercial
Investment Insights
Based on property information with market context.
This 6,926 square-foot freestanding building is situated on a 1.4-acre lot. The property has been fully remodeled with high-end showroom finishes. It benefits from high visibility, with over 30,000 vehicles passing by daily on Wixom Road. Ample on-site parking is available. The building is located on the east side of Wixom Road, just north of West Road, and is less than 1 mile from I-96 access ramps, offering convenient transportation links. This property presents a prime opportunity for an owner-user in a high-traffic corridor.
Key Highlights
- High‑traffic location with excellent visibility (over 30K vehicles per day) on Wixom Road.
- 6,926 SF modern, freestanding building on 1.4 acres.
- Fully remodeled with high‑end showroom finishes.
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
$74,527
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
3.11%
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%
$1,490,540
$1.5M
Cap Rate 7%
$1,064,671
$1.1M
Cap Rate 9%
$828,078
$828.1K
Market Conditions
NOI Build-Up for 6,926 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
$116.4K $16.80/SF
− Vacancy
−$9.9K −$1.43/SF
EGI
$106.5K $15.37/SF
− OpEx
−$31.9K −$4.61/SF
NOI
$74.5K $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%
$1,490,540
Cap Rate 7%
$1,064,671
Cap Rate 9%
$828,078
Alternative Uses
Best Use
Retail
$1.06M
$931.6K – $1.24M
NOI $74,527 @ 7.0% cap · market cap 3.11%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.49M
$1.31M – $1.74M
NOI $104,572 @ 7.0% cap · market cap 4.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
350
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48393, MI
20,257
Population
9,847
Households
2.1
Avg Household Size
36
Median Age
43%
College-Educated
96%
High-School Grad
13.6 sq mi
ZIP Area
1,489
Density / Sq Mi
$67,194
Median Household Income
$44,862
Median Earnings
$975
Median Rent
$309,100
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Showroom - 6,926 SF remodeled building on 1.4 acres for sale.
Where is this showroom located?
The property is located at 29710 Wixom Road Wixom, MI.
What is the asking price?
The asking price for this property is $2,399,000.
What are key features of this property?
This property features: High‑traffic location with excellent visibility (over 30K vehicles per day) on Wixom Road.; 6,926 SF modern, freestanding building on 1.4 acres.; Fully remodeled with **high‑end showroom finishes**.
