Freestanding Bank
For Sale
Contact for pricing
3805 Highland Rd, Waterford, MI 48328
Former bank facility with drive-through access, on-site parking, and prominent signage along Highland Road.
Property Size8,248 SF
Price / SF$120.64
Days on Market248
Property Features for 3805 Highland Rd
General Information
Standard status
Active
Size
8,248 SF
Property subtype
Retail
Zoning
C-4
Lease Type
NNN
Investment Type
Owner/User
Additional Details
Drive-Thru
Yes
Building Details
Buildings
1
Listing Agency:
On Q Commercial Real Estate
Listed By:
Joe Qonja · License #6505432099
Source:
Crexi
Added: Feb 10
Changed: Oct 15
Last Checked: Oct 14 at 11:51PM
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 On Q Commercial Real Estate
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This freestanding former bank building contains 8,248 square feet and includes a drive-through component, on-site parking, and prominent signage. The existing configuration supports continued financial-services use or repositioning for medical and fast-food operations, as identified for the property.
Located at 3805 Highland Rd in Waterford, Michigan, the site fronts Highland Road in Oakland County. C-4 zoning provides the stated commercial land-use designation for the property.
Located at 3805 Highland Rd in Waterford, Michigan, the site fronts Highland Road in Oakland County. C-4 zoning provides the stated commercial land-use designation for the property.
Key Highlights
- 8,248‑square‑foot freestanding former bank building
- Drive‑through component supports efficient customer access
- C‑4 zoning designation
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$88,752
Cap Rate
8.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,775,040
$1.8M
Cap Rate 7%
$1,267,886
$1.3M
Cap Rate 9%
$986,133
$986.1K
Market Conditions
NOI Build-Up for 8,248 SF
Gross rent
$138.6K $16.80/SF
− Vacancy
−$11.8K −$1.43/SF
EGI
$126.8K $15.37/SF
− OpEx
−$38.0K −$4.61/SF
NOI
$88.8K $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%
$1,775,040
Cap Rate 7%
$1,267,886
Cap Rate 9%
$986,133
Alternative Uses
Best Use
Specialty Retail
$1.78M
$1.56M – $2.08M
NOI $124,532 @ 7.0% cap · market cap 12.52%
Second Best
Retail
$1.27M
$1.11M – $1.48M
NOI $88,752 @ 7.0% cap · market cap 8.92%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
468
Businesses Nearby
43k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 72%
Dining 28%
Speedway
Shops & Services
23,344 visits/mo
0.5 miles
Tim Hortons
Dining
11,321 visits/mo
0.5 miles
BP
Shops & Services
6,693 visits/mo
0.5 miles
Domino's Pizza
Dining
784 visits/mo
0.4 miles
Golling Pre Owned Superstore
Shops & Services
415 visits/mo
0.1 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
Frequently Asked Questions
What type of property is this?
Bank - Former bank facility with drive-through access, on-site parking, and prominent signage along Highland Road.
Where is this bank located?
The property is located at 3805 Highland Rd Waterford, MI.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 8,248‑square‑foot freestanding former bank building; Drive‑through component supports efficient customer access; C‑4 zoning designation
