Fully Leased Retail Strip
40775 GARFIELD RD Clinton Township, MI 48038
For Sale
Contact for pricing
A fully leased retail strip building in a high-traffic area, offering stable space for retail investors.
Property Size45,091 SF
Price / SF$102.02
Days on Market64
Property Features for 40775 GARFIELD RD
General Information
Standard status
Active
Size
45,091 SF
Property subtype
Retail
Building Details
Year Built
2004
Listing Agency:
Howard Realty Group
Listed By:
Larry Howard · License #MI 6501288227
Source:
Crexi
Added: May 28
Changed: Jul 10
Last Checked: Jul 29 at 2:13PM
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 Howard Realty Group
Investment Insights
Based on property information with market context.
This offering is a 45,000-square-foot retail building configured as a strip-style retail center. The property is fully leased, providing an occupied setup designed for ongoing retail operations rather than ground-up development. The building supports multiple retail uses under one ownership, with tenants in place at the time of sale.
The property is located at 40775 Garfield Rd in Clinton Township, Michigan. Public remarks note the site sits in a high-traffic area, which can be an important consideration for tenant visibility and customer access for retail businesses.
For buyers, this is a straightforward option for acquiring a retail asset that is already generating tenant occupancy at the time of purchase. For tenants and brokers, the layout and “fully leased” status suggest a working retail environment with existing day-to-day operations. Interested parties can request additional rent roll and leasing details through the broker to evaluate the tenant mix and lease terms as part of underwriting.
The property is located at 40775 Garfield Rd in Clinton Township, Michigan. Public remarks note the site sits in a high-traffic area, which can be an important consideration for tenant visibility and customer access for retail businesses.
For buyers, this is a straightforward option for acquiring a retail asset that is already generating tenant occupancy at the time of purchase. For tenants and brokers, the layout and “fully leased” status suggest a working retail environment with existing day-to-day operations. Interested parties can request additional rent roll and leasing details through the broker to evaluate the tenant mix and lease terms as part of underwriting.
Key Highlights
- 45,000 SF retail building built in 2004
- Fully leased retail strip building
- High‑traffic area
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 | $541.1k | $12.00 |
| − Vacancy | −$64.9k | −$1.44 |
| EGI | $476.2k | $10.56 |
| − OpEx | −$142.8k | −$3.17 |
| NOI | $333.3k | $7.39 |
45,091 SF · lease $12.00/SF/yr · vacancy 12.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$4.76M
$4.17M – $5.56M
NOI $333,313 @ 7.0% cap · market cap 7.25%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$8.44M
$7.39M – $9.85M
NOI $590,923 @ 7.0% cap · market cap 12.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- Coinstar Kiosk - Bitcoin ATM — 41941 Garfield Kroger, Clinton Twp, MI 48038
Frequently Asked Questions
What type of property is this?
Shopping center - A fully leased retail strip building in a high-traffic area, offering stable space for retail investors.
Where is this shopping center located?
The property is located at 40775 GARFIELD RD Clinton Township, MI.
What is the asking price?
The asking price for this property is $4,600,000.
What are key features of this property?
This property features: 45,000 SF retail building built in 2004; Fully leased retail strip building; High‑traffic area
