Corner Storefront with Rear
For Sale
$424,900
4105 12 Mile Road, Berkley, MI 48072
Brick-front commercial space with updated windows, a rear roll-up door, and corner-lot positioning.
Property Size1,937 SF
Price / SF$219.36
Days on Market128
Property Features for 4105 12 Mile Road
General Information
Standard status
Active
Size
1,937 SF
Property subtype
Commercial
Zoning
Commercial
Site & Location
Corner Location
Yes
Traffic Count
7,200 vehicles/day
Amenities
energy efficient windows and door
roll-up door
Building Details
Building Size
1,937 SF
Year Built
1946
Buildings
1
Stories
1
Construction
brick
Listing Agency:
Real Estate One-Troy
(248) 813-4900
Listed By:
James Balk · License #6501337282
(248) 813-4900
Source:
Homesforsaleinmich
Added: Apr 24
Changed: Aug 29
Last Checked: Aug 23 at 6:19AM
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 Real Estate One-Troy
Investment Insights
Based on property information with market context.
This storefront property provides 1,937 square feet of commercial space in a brick-front building constructed in 1946. The corner-lot layout offers exposure from multiple angles, while the rear roll-up door supports loading, unloading, or pull-in access. Energy-efficient aluminum-framed windows and a matching front door were installed in 2023, giving the frontage a more current presentation. Outdoor lighting is also included.
The property is located at 4105 12 Mile Road in downtown Berkley, where average daily traffic is approximately 7,200 cars. The surrounding downtown area hosts street fairs and provides walkable access to local businesses. The space is identified for retail or office use.
The property is located at 4105 12 Mile Road in downtown Berkley, where average daily traffic is approximately 7,200 cars. The surrounding downtown area hosts street fairs and provides walkable access to local businesses. The space is identified for retail or office use.
Key Highlights
- 1,937 SF storefront property in downtown Berkley
- Approximately 7,200 cars in average daily traffic
- Corner‑lot setting with exposure from multiple angles
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$20,843
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.91%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$416,860
$416.9K
Cap Rate 7%
$297,757
$297.8K
Cap Rate 9%
$231,589
$231.6K
Market Conditions
NOI Build-Up for 1,937 SF
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.
Gross rent
$32.5K $16.80/SF
− Vacancy
−$2.8K −$1.43/SF
EGI
$29.8K $15.37/SF
− OpEx
−$8.9K −$4.61/SF
NOI
$20.8K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$416,860
Cap Rate 7%
$297,757
Cap Rate 9%
$231,589
Alternative Uses
Best Use
Retail
$297.8K
$260.5K – $347.4K
NOI $20,843 @ 7.0% cap · market cap 4.91%
Second Best
Office B
$95.3K
$83.4K – $111.1K
NOI $6,668 @ 7.0% cap · market cap 1.57%
Theoretical Best
Specialty Retail
$417.8K
$365.6K – $487.4K
NOI $29,246 @ 7.0% cap · market cap 6.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7,200 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
773
Businesses Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Endless Flowers — 3678 W Eleven Mile Rd, Berkley, MI 48072
Frequently Asked Questions
What type of property is this?
Storefront property - Brick-front commercial space with updated windows, a rear roll-up door, and corner-lot positioning.
Where is this storefront property located?
The property is located at 4105 12 Mile Road Berkley, MI.
What is the asking price?
The asking price for this property is $424,900.
What are key features of this property?
This property features: 1,937 SF storefront property in downtown Berkley; Approximately 7,200 cars in average daily traffic; Corner‑lot setting with exposure from multiple angles
