Small Office/Retail
3406 12 Mile Rd Berkley, MI 48072
3406 12 Mile Rd, Berkley, MI, 48072
$400,000
For Sale
$400,000
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 Market640
Property Features for 3406 12 Mile Rd
General Information
- Standard status
- Active
- Size
- 1,900 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1951
Listing agency
Thomas A. Duke Company
(248) 479-0130
Listed by
Jordan Schafer · License #6501384188
(248) 479-0130
Source
Cpix.resimplifi
Added: Oct 21, 2024 Updated: Jul 22 at 1:38AM Checked: Jul 22 at 2:18AM
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
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
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $31.9k | $16.80 |
| − Vacancy | −$2.7k | −$1.43 |
| EGI | $29.2k | $15.37 |
| − OpEx | −$8.8k | −$4.61 |
| NOI | $20.4k | $10.76 |
1,900 SF · lease $16.80/SF/yr · vacancy 8.50% · expense 30.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
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
