Storefront with Commercial
New
For Sale
$149,900
3282 Dixie Hwy, Waterford, MI 48328
An open-plan commercial space with a finished basement and side-of-building parking.
Property Size1,710 SF
Days on Market2
Property Features for 3282 Dixie Hwy
General Information
Standard status
Active
Size
1,710 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$3,214
Building Details
Building Size
1,710 SF
Year Built
1949
Listing Agency:
Wilhelm & Associates
Listed By:
Thomas Wilhelm · License #6501196948
(248) 625-9500
Source:
Elliman
Added: Sep 24
Last Checked: Sep 24 at 3:08PM
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 Wilhelm & Associates
Investment Insights
Based on property information with market context.
This 1,710-square-foot storefront at 3282 Dixie Hwy has an open interior, a commercial kitchen, and a finished basement. The basement provides additional space within the building. Side-of-building parking is available. The property was built in 1949 and is zoned C-2.
Key Highlights
- 1,710‑square‑foot storefront on Dixie Hwy
- Commercial kitchen and open interior
- Finished basement adds usable space
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
$8,472
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
5.65%
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%
$169,440
$169.4K
Cap Rate 7%
$121,029
$121.0K
Cap Rate 9%
$94,133
$94.1K
Market Conditions
NOI Build-Up for 1,710 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
$12.6K $7.35/SF
− Vacancy
−$465 −$0.27/SF
EGI
$12.1K $7.08/SF
− OpEx
−$3.6K −$2.12/SF
NOI
$8.5K $4.95/SF
Area
Oakland County, MI
Vacancy
3.70%
Lease Rate
$7.35 /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%
$169,440
Cap Rate 7%
$121,029
Cap Rate 9%
$94,133
Alternative Uses
Best Use
Specialty Retail
$368.8K
$322.7K – $430.3K
NOI $25,818 @ 7.0% cap · market cap 17.22%
Second Best
Retail
$262.9K
$230.0K – $306.7K
NOI $18,400 @ 7.0% cap · market cap 12.27%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
185
Businesses Nearby
6k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
BP
Shops & Services
5,113 visits/mo
0.4 miles
Muffler Man
Shops & Services
454 visits/mo
0.4 miles
Demographics for 48328, MI
24,178
Population
11,938
Households
2
Avg Household Size
43
Median Age
27%
College-Educated
93%
High-School Grad
8.9 sq mi
ZIP Area
2,717
Density / Sq Mi
$69,788
Median Household Income
$42,084
Median Earnings
$1,041
Median Rent
$210,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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Similar Off Market Nearby
- Accent Flowers Weddings & Events — 2776 Dixie Hwy, Waterford Twp, MI 48329
Frequently Asked Questions
What type of property is this?
Storefront property - An open-plan commercial space with a finished basement and side-of-building parking.
Where is this storefront property located?
The property is located at 3282 Dixie Hwy Waterford, MI.
What is the asking price?
The asking price for this property is $149,900.
What are key features of this property?
This property features: 1,710‑square‑foot storefront on Dixie Hwy; Commercial kitchen and open interior; Finished basement adds usable space
