Multi-Tenant Shopping Center Near
For Sale
$10,200,000
30598 - 30860 Southfield Road, Southfield, MI 48076
Retail center with established national, regional, dining, automotive, and healthcare occupants in a prominent suburban trade area.
Property Size53,500 SF
Price / SF$190.65
Days on Market165
Property Features for 30598 - 30860 Southfield Road
General Information
Standard status
Active
Size
53,500 SF
Property subtype
Retail
Zoning
NS
Site & Location
Corner Location
Yes
Anchor Co-Tenants
O'Reilly Auto Parts, Harbor Freight Tools
Highway Access
Yes
Building Details
Building Size
53,500 SF
Tenancy
Multi
Listing Agency:
CMP Real Estate Group
(248) 538-2000
Listed By:
Christopher Jonna · License #6505340526
(248) 538-2000
Source:
Cpix.resimplifi
Added: Mar 19
Changed: Aug 29
Last Checked: Aug 29 at 9:45PM
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 CMP Real Estate Group
Investment Insights
Based on property information with market context.
Country Corner Shopping Center is a 53,500-square-foot retail property with a broad tenant roster that includes O’Reilly Auto Parts, Harbor Freight Tools, Little Caesars, Fyzical Therapy Center, New York Bagel, and Mezza Mediterranean Grille. The center is adjacent to CVS and is zoned NS.
The property occupies the intersection of Thirteen Mile and Southfield Roads, with access to the Lodge Freeway (M-10), Southfield Freeway (M-39), I-696, and Telegraph Road (M-24). Corewell Health Hospital’s Royal Oak Campus is less than two miles away, while Downtown Birmingham is located a short drive to the north. Nearby retailers include Target, The Home Depot, Burlington, T.J. Maxx, Ace Hardware, and Planet Fitness.
The tenant roster combines retail, food service, automotive, and therapy uses. O’Reilly Auto Parts and Harbor Freight Tools are identified as national occupants, and several tenants have remained through multiple lease terms. A Reciprocal Easement Agreement provides for shared costs related to certain common-area maintenance, repairs, and replacements with the adjacent CVS parcel.
The property occupies the intersection of Thirteen Mile and Southfield Roads, with access to the Lodge Freeway (M-10), Southfield Freeway (M-39), I-696, and Telegraph Road (M-24). Corewell Health Hospital’s Royal Oak Campus is less than two miles away, while Downtown Birmingham is located a short drive to the north. Nearby retailers include Target, The Home Depot, Burlington, T.J. Maxx, Ace Hardware, and Planet Fitness.
The tenant roster combines retail, food service, automotive, and therapy uses. O’Reilly Auto Parts and Harbor Freight Tools are identified as national occupants, and several tenants have remained through multiple lease terms. A Reciprocal Easement Agreement provides for shared costs related to certain common-area maintenance, repairs, and replacements with the adjacent CVS parcel.
Key Highlights
- 53,500‑square‑foot shopping center at 30598 - 30860 Southfield Road
- Adjacent to CVS with shared common‑area responsibilities under a Reciprocal Easement Agreement
- National and regional occupants include O’Reilly Auto Parts and Harbor Freight Tools
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
$575,681
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
5.64%
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%
$11,513,620
$11.5M
Cap Rate 7%
$8,224,014
$8.2M
Cap Rate 9%
$6,396,456
$6.4M
Market Conditions
NOI Build-Up for 53,500 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
$898.8K $16.80/SF
− Vacancy
−$76.4K −$1.43/SF
EGI
$822.4K $15.37/SF
− OpEx
−$246.7K −$4.61/SF
NOI
$575.7K $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%
$11,513,620
Cap Rate 7%
$8,224,014
Cap Rate 9%
$6,396,456
Alternative Uses
Best Use
Retail
$8.22M
$7.20M – $9.59M
NOI $575,681 @ 7.0% cap · market cap 5.64%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$11.54M
$10.10M – $13.46M
NOI $807,764 @ 7.0% cap · market cap 7.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
687
Businesses Nearby
389k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 30%
Shops & Services 22%
Dining 20%
Home Improvements & Furnishings 14%
Target
Superstores
105,605 visits/mo
0.2 miles
The Home Depot
Home Improvements & Furnishings
38,638 visits/mo
0.4 miles
Books-A-Million
Shops & Services
32,669 visits/mo
0.2 miles
McDonald's
Dining
26,760 visits/mo
0.3 miles
Burlington
Apparel
22,198 visits/mo
0.5 miles
Demographics for 48076, MI
26,062
Population
11,016
Households
2.4
Avg Household Size
44
Median Age
44%
College-Educated
94%
High-School Grad
7.1 sq mi
ZIP Area
3,671
Density / Sq Mi
$85,171
Median Household Income
$50,210
Median Earnings
$1,451
Median Rent
$251,300
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Southfield Plaza - Southfield — 29782 Southfield Rd, Southfield, MI 48076
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Frequently Asked Questions
What type of property is this?
Shopping center - Retail center with established national, regional, dining, automotive, and healthcare occupants in a prominent suburban trade area.
Where is this shopping center located?
The property is located at 30598 - 30860 Southfield Road Southfield, MI.
What is the asking price?
The asking price for this property is $10,200,000.
What are key features of this property?
This property features: 53,500‑square‑foot shopping center at 30598 - 30860 Southfield Road; Adjacent to CVS with shared common‑area responsibilities under a Reciprocal Easement Agreement; National and regional occupants include O’Reilly Auto Parts and Harbor Freight Tools
