Royal Oak Storefront
For Sale
$2,800,000
32778-32782 Woodward Ave, Royal Oak, MI 48073
Retail building offering versatile space for a commercial presence in Royal Oak.
Property Size12,100 SF
Price / SF$231.40
Days on Market91
Property Features for 32778-32782 Woodward Ave
General Information
Standard status
Active
Size
12,100 SF
Property subtype
Retail
Building Details
Building Size
12,100 SF
Listing Agency:
Keystone Commercial Real Estate
(248) 406-1754
Listed By:
Jason Orow · License #6501379713
Source:
Keystonecres
Added: Jun 2
Changed: Aug 29
Last Checked: Aug 30 at 1:44PM
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 Keystone Commercial Real Estate
Investment Insights
Based on property information with market context.
This storefront property in Royal Oak, Michigan, contains 12,100 square feet of commercial space. The building is positioned for retail or street-retail use, providing a substantial footprint for a range of customer-facing operations.
Located at 32778-32782 Woodward Ave, the property places a retail building along Woodward Avenue in Royal Oak. Its configuration and classification make it suitable for an owner-user or investor seeking a dedicated retail asset.
Located at 32778-32782 Woodward Ave, the property places a retail building along Woodward Avenue in Royal Oak. Its configuration and classification make it suitable for an owner-user or investor seeking a dedicated retail asset.
Key Highlights
- 12,100 SF storefront building
- Retail or street‑retail use supported
- Located at 32778‑32782 Woodward Ave in Royal Oak, MI
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
$130,201
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
4.65%
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%
$2,604,020
$2.6M
Cap Rate 7%
$1,860,014
$1.9M
Cap Rate 9%
$1,446,678
$1.4M
Market Conditions
NOI Build-Up for 12,100 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
$203.3K $16.80/SF
− Vacancy
−$17.3K −$1.43/SF
EGI
$186.0K $15.37/SF
− OpEx
−$55.8K −$4.61/SF
NOI
$130.2K $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%
$2,604,020
Cap Rate 7%
$1,860,014
Cap Rate 9%
$1,446,678
Alternative Uses
Best Use
Retail
$1.86M
$1.63M – $2.17M
NOI $130,201 @ 7.0% cap · market cap 4.65%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.61M
$2.28M – $3.04M
NOI $182,691 @ 7.0% cap · market cap 6.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
705
Businesses Nearby
60k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 64%
Shops & Services 18%
Electronics 9%
Apparel 6%
Oberweis Dairy
Dining
7,308 visits/mo
0.1 miles
Potbelly Sandwich Shop
Dining
7,290 visits/mo
0.4 miles
Starbucks
Dining
7,238 visits/mo
0.4 miles
FedEx Office Print & Ship Center
Shops & Services
7,026 visits/mo
0.3 miles
Verizon
Electronics
5,427 visits/mo
0.4 miles
Demographics for 48073, MI
33,658
Population
17,551
Households
1.9
Avg Household Size
39
Median Age
59%
College-Educated
97%
High-School Grad
7.4 sq mi
ZIP Area
4,548
Density / Sq Mi
$86,426
Median Household Income
$58,525
Median Earnings
$1,245
Median Rent
$302,800
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.
Similar Off Market Nearby
- Katy Fenton — 15976 lauderdale ave, beverly hills, mi 48025
- Luxe Flowers — 33422 Woodward Ave, Birmingham, MI 48009
- Affordable Flowers — 33289 Woodward Ave, Birmingham, MI 48009
- Silk & Morgan Inc — 33866 woodward ave, birmingham, mi 48009
Frequently Asked Questions
What type of property is this?
Storefront property - Retail building offering versatile space for a commercial presence in Royal Oak.
Where is this storefront property located?
The property is located at 32778-32782 Woodward Ave Royal Oak, MI.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: 12,100 SF storefront building; Retail or street‑retail use supported; Located at 32778‑32782 Woodward Ave in Royal Oak, MI
