Eight-Unit Apartment
For Sale
Contact for pricing
30625-30635 Martindale Rd, New Hudson, MI 48165
Single-story townhome community with all two-bedroom units, private outdoor areas, and in-unit laundry.
Property Size9,182 SF
Price / SF$174.25
Days on Market14
Property Features for 30625-30635 Martindale Rd
General Information
Standard status
Active
Size
9,182 SF
Class
B
Total Parking Spaces
15
Property subtype
Multifamily
Zoning
AI - Multi-family dwellings
Occupancy
100%
Investment Type
Value Add
Net Operating Income
$80,000
Building Details
Year Built
1978
Year Renovated
2026
Buildings
1
Stories
1
Units
8
Tenancy
Multi
Listing Agency:
Elite Exit Advisors
Listed By:
Natalie Luneva · License #9016902-BB
Source:
Crexi
Added: Aug 20
Changed: Sep 1
Last Checked: Sep 1 at 8:43PM
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 Elite Exit Advisors
Investment Insights
Based on property information with market context.
Skyewest Townhomes is an eight-unit, single-story apartment community on a 3-acre parcel at 30625-30635 Martindale Rd in New Hudson, Michigan. The property contains 9,182 square feet of total building area and was constructed in 1978. Each residence is a two-bedroom unit with a private entrance, covered porch, concrete patio, full kitchen, dishwasher, and in-unit washer and dryer. Seven apartments are approximately 1,100 square feet with 1.5 bathrooms, while one is approximately 800 square feet with one bathroom.
Five units have been fully renovated with stainless steel appliances and vinyl plank flooring. Two units remain in original condition, and one is partially finished. The property also includes eight on-site resident storage units, with five currently leased. Occupancy is 100%, and the community is located in Lyon Charter Township in western Oakland County.
Five units have been fully renovated with stainless steel appliances and vinyl plank flooring. Two units remain in original condition, and one is partially finished. The property also includes eight on-site resident storage units, with five currently leased. Occupancy is 100%, and the community is located in Lyon Charter Township in western Oakland County.
Key Highlights
- Eight‑unit, single‑story townhome community on 3 acres
- 9,182 SF of total building area; built in 1978
- Unit mix includes seven 2BR/1.5BA units at roughly 1,100 square feet and one 2BR/1BA unit at roughly 800 square feet
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
$112,629
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
7.04%
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%
$2,252,580
$2.3M
Cap Rate 7%
$1,608,986
$1.6M
Cap Rate 9%
$1,251,433
$1.3M
Market Conditions
NOI Build-Up for 9,182 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
$213.8K $23.28/SF
− Vacancy
−$9.0K −$0.98/SF
EGI
$204.8K $22.30/SF
− OpEx
−$92.2K −$10.04/SF
NOI
$112.6K $12.27/SF
Area
Oakland County, MI
Vacancy
4.20%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
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%
$2,252,580
Cap Rate 7%
$1,608,986
Cap Rate 9%
$1,251,433
Alternative Uses
Best Use
Apartment 5plus
$1.61M
$1.41M – $1.88M
NOI $112,629 @ 7.0% cap · market cap 7.04%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.98M
$1.73M – $2.31M
NOI $138,634 @ 7.0% cap · market cap 8.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
52
Businesses Nearby
Explore this area
Business Placement
Demographics for 48165, MI
8,832
Population
3,587
Households
2.5
Avg Household Size
37
Median Age
51%
College-Educated
95%
High-School Grad
9.9 sq mi
ZIP Area
892
Density / Sq Mi
$105,511
Median Household Income
$59,609
Median Earnings
$1,583
Median Rent
$352,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Single-story townhome community with all two-bedroom units, private outdoor areas, and in-unit laundry.
Where is this apartment building located?
The property is located at 30625-30635 Martindale Rd New Hudson, MI.
What is the asking price?
The asking price for this property is $1,599,999.
What are key features of this property?
This property features: Eight‑unit, single‑story townhome community on 3 acres; 9,182 SF of total building area; built in 1978; Unit mix includes seven 2BR/1.5BA units at roughly 1,100 square feet and one 2BR/1BA unit at roughly 800 square feet
