Small Office/Retail
For Sale
$400,000
3406 12 Mile Rd, Berkley, MI 48072
Flex office/retail space includes private parking, a fenced lot, and a rear overhead door for convenient access.
Property Size1,900 SF
Price / SF$210.53
Days on Market731
Property Features for 3406 12 Mile Rd
General Information
Standard status
Active
Size
1,900 SF
Property subtype
Retail
Zoning
TM
Additional Details
Fenced Yard
Yes
Building Details
Building Size
1,900 SF
Year Built
1951
Buildings
1
Stories
1
Listing Agency:
Thomas A. Duke Company
Listed By:
Jordan Schafer
(248) 479-0130
Source:
Cpix.resimplifi
Added: Oct 21, 2024
Changed: Oct 10
Last Checked: Oct 20 at 5:25PM
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 A. Duke Company
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Investment Insights
Based on property information with market context.
This flexible small office/workspace is suited to multiple business formats. The offering includes private parking, a fenced lot, and a rear entrance with a 9' x 7' overhead door, supporting straightforward deliveries and conversions between office and retail use.
Located in downtown Berkley on 12 Mile Rd between Coolidge Hwy and Greenfield Rd, the property is adjacent to Hartfield Lanes, offering visibility within the district.
The space totals 1,900 SF and is described as office/retail, with the overhead door and fenced yard providing practical improvements for contractor or retail-oriented operations.
Located in downtown Berkley on 12 Mile Rd between Coolidge Hwy and Greenfield Rd, the property is adjacent to Hartfield Lanes, offering visibility within the district.
The space totals 1,900 SF and is described as office/retail, with the overhead door and fenced yard providing practical improvements for contractor or retail-oriented operations.
Key Highlights
- 1,900 SF office/retail space in Downtown Berkley
- Year built 1951
- Located on 12 Mile Rd in Downtown Berkley between Coolidge Hwy and Greenfield Rd
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,445
Cap Rate
5.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$408,900
$408.9K
Cap Rate 7%
$292,071
$292.1K
Cap Rate 9%
$227,167
$227.2K
Market Conditions
NOI Build-Up for 1,900 SF
Gross rent
$31.9K $16.80/SF
− Vacancy
−$2.7K −$1.43/SF
EGI
$29.2K $15.37/SF
− OpEx
−$8.8K −$4.61/SF
NOI
$20.4K $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 Rate 5%
$408,900
Cap Rate 7%
$292,071
Cap Rate 9%
$227,167
Alternative Uses
Best Use
Retail
$292.1K
$255.6K – $340.8K
NOI $20,445 @ 7.0% cap · market cap 5.11%
Second Best
Office B
$93.4K
$81.8K – $109.0K
NOI $6,541 @ 7.0% cap · market cap 1.64%
Theoretical Best
Specialty Retail
$409.8K
$358.6K – $478.1K
NOI $28,687 @ 7.0% cap · market cap 7.17%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
773
Businesses Nearby
Explore this area
Business Placement
Demographics for 48072, MI
15,194
Population
7,068
Households
2.1
Avg Household Size
38
Median Age
58%
College-Educated
99%
High-School Grad
2.4 sq mi
ZIP Area
6,331
Density / Sq Mi
$113,103
Median Household Income
$68,818
Median Earnings
$1,436
Median Rent
$289,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - Flex office/retail space includes private parking, a fenced lot, and a rear overhead door for convenient access.
Where is this retail space located?
The property is located at 3406 12 Mile Rd Berkley, MI.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 1,900 SF office/retail space in Downtown Berkley; Year built 1951; Located on 12 Mile Rd in Downtown Berkley between Coolidge Hwy and Greenfield Rd
