In-Line Retail
New
For Sale
$1,100,000
33488 Woodward Ave, Birmingham, MI 48009
Retail building with building signage and flexible B-1 zoning on Woodward Ave.
Property Size4,551 SF
Price / SF$241.65
Days on Market5
Property Features for 33488 Woodward Ave
General Information
Standard status
Active
Size
4,551 SF
Property subtype
Retail
Zoning
B-1
Building Details
Building Size
4,551 SF
Year Built
1968
Buildings
1
Listing Agency:
Thomas Duke Company
(248) 631-8085
Listed By:
Andrew Battersby · License #6501384188
(248) 631-8085
Source:
Thomasduke
Added: Aug 12
Changed: Aug 15
Last Checked: Aug 15 at 5:25AM
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 Thomas Duke Company
Investment Insights
Based on property information with market context.
This in-line retail property contains 4,552 SF and was built in 1968. The building includes existing signage and is positioned for continued retail use under flexible B-1 zoning. Benjamin Moore is scheduled to vacate the premises on 12/31/26.
The property is located at 33488 Woodward Ave in Birmingham, MI, along Woodward Ave. Its storefront configuration and established commercial setting provide a straightforward format for retail occupancy or repositioning after the current tenancy ends.
The property is located at 33488 Woodward Ave in Birmingham, MI, along Woodward Ave. Its storefront configuration and established commercial setting provide a straightforward format for retail occupancy or repositioning after the current tenancy ends.
Key Highlights
- 4,552 SF in‑line retail building
- Benjamin Moore scheduled to vacate 12/31/26
- Flexible B‑1 zoning
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
$48,981
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
4.45%
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%
$979,620
$979.6K
Cap Rate 7%
$699,729
$699.7K
Cap Rate 9%
$544,233
$544.2K
Market Conditions
NOI Build-Up for 4,552 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
$76.5K $16.80/SF
− Vacancy
−$6.5K −$1.43/SF
EGI
$70.0K $15.37/SF
− OpEx
−$21.0K −$4.61/SF
NOI
$49.0K $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%
$979,620
Cap Rate 7%
$699,729
Cap Rate 9%
$544,233
Alternative Uses
Best Use
Retail
$699.7K
$612.3K – $816.4K
NOI $48,981 @ 7.0% cap · market cap 4.45%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$981.8K
$859.1K – $1.15M
NOI $68,728 @ 7.0% cap · market cap 6.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,360
Businesses Nearby
68k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 58%
Shops & Services 28%
Electronics 8%
Beauty & Spa 5%
The Original Pancake House
Dining
14,353 visits/mo
0.2 miles
Oberweis Dairy
Dining
7,308 visits/mo
0.4 miles
FedEx Office Print & Ship Center
Shops & Services
7,026 visits/mo
0.2 miles
AT&T
Electronics
5,633 visits/mo
0.2 miles
The UPS Store
Shops & Services
5,545 visits/mo
0.2 miles
Demographics for 48009, MI
21,817
Population
10,333
Households
2.1
Avg Household Size
43
Median Age
77%
College-Educated
99%
High-School Grad
5.0 sq mi
ZIP Area
4,363
Density / Sq Mi
$152,443
Median Household Income
$84,415
Median Earnings
$1,891
Median Rent
$712,000
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
- Luxe Flowers — 33422 Woodward Ave, Birmingham, MI 48009
- Affordable Flowers — 33289 Woodward Ave, Birmingham, MI 48009
- Tiffany Florist — 784 S Old Woodward Ave, Birmingham, MI 48009
- Bamboo and Lace Designs — 412 E Frank St, 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 with building signage and flexible B-1 zoning on Woodward Ave.
Where is this storefront property located?
The property is located at 33488 Woodward Ave Birmingham, MI.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 4,552 SF in‑line retail building; Benjamin Moore scheduled to vacate 12/31/26; Flexible B‑1 zoning
