Freestanding Commercial
For Sale
Contact for pricing
40696 Garfield Road, Clinton Township, MI 48038
Freestanding building for sale with land contract available and approximately 3,952 square feet.
Property Size3,952 SF
Price / SF$151.57
Days on Market100
Property Features for 40696 Garfield Road
General Information
Standard status
Active
Size
3,952 SF
Property subtype
Retail, Office, Special Purpose
Zoning
B-2
Lease Type
NNN
Building Details
Year Built
1993
Tenancy
Single
Listing Agency:
Pilot Property Group
Listed By:
Tony Cavataio · License #MI
(586) 291-6968
Source:
Crexi
Added: Jul 24
Changed: Oct 27
Last Checked: Oct 30 at 11:28AM
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 Pilot Property Group
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Investment Insights
Based on property information with market context.
This freestanding commercial building is available for sale, and a land contract may be available for qualified buyers. The property totals approximately 3,952 square feet and offers a straightforward footprint suitable for a range of commercial uses that can be accommodated within the existing structure.
The building is located at 40696 Garfield Road in Clinton Township, Michigan 48038. Please contact the listing broker for additional details on the interior layout, condition, and any use considerations.
The building is located at 40696 Garfield Road in Clinton Township, Michigan 48038. Please contact the listing broker for additional details on the interior layout, condition, and any use considerations.
Key Highlights
- Freestanding building for sale with approximately 3,952 SF.
- Land contract available.
- Built in 1993.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,213
Cap Rate
4.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$584,260
$584.3K
Cap Rate 7%
$417,329
$417.3K
Cap Rate 9%
$324,589
$324.6K
Market Conditions
NOI Build-Up for 3,952 SF
Gross rent
$47.4K $12.00/SF
− Vacancy
−$5.7K −$1.44/SF
EGI
$41.7K $10.56/SF
− OpEx
−$12.5K −$3.17/SF
NOI
$29.2K $7.39/SF
Area
Macomb County, MI
Vacancy
12.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$584,260
Cap Rate 7%
$417,329
Cap Rate 9%
$324,589
Alternative Uses
Best Use
Retail
$417.3K
$365.2K – $486.9K
NOI $29,213 @ 7.0% cap · market cap 4.88%
Second Best
Office B
$194.4K
$170.1K – $226.8K
NOI $13,605 @ 7.0% cap · market cap 2.27%
Theoretical Best
Specialty Retail
$739.9K
$647.4K – $863.2K
NOI $51,791 @ 7.0% cap · market cap 8.65%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
390
Businesses Nearby
Explore this area
Business Placement
Demographics for 48038, MI
44,038
Population
21,395
Households
2.1
Avg Household Size
43
Median Age
29%
College-Educated
94%
High-School Grad
10.9 sq mi
ZIP Area
4,040
Density / Sq Mi
$78,684
Median Household Income
$44,811
Median Earnings
$1,255
Median Rent
$246,400
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?
Office building - Freestanding building for sale with land contract available and approximately 3,952 square feet.
Where is this office building located?
The property is located at 40696 Garfield Road Clinton Township, MI.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Freestanding building for sale with approximately 3,952 SF.; Land contract available.; Built in 1993.
