Shopping Center With Excess
41560 - 41660 Garfield Road, Clinton Township, MI 48038
For Sale
$1,895,000
Pending
COM/IND/BUS OPP, Clinton Township, MI
Property Size14,800 SF
Lot Size3.05 Acres
Days on Market212
Property Features for 41560 - 41660 Garfield Road
General Information
Property type
Property subtype
Parking features
Subdivision
Standard status
APN
Size
Lot size
Utilities
Heating system
Water source
Building Details
Year built
Roof type
Listing Agency:
Pilot Property Group - Residential LLC
(586) 254-0900
Listed By:
Alexander Termini · License MI #6501392648
(586) 291-0499
Added: Apr 13
Changed: Oct 8
Last Checked: Nov 10 at 5:06PM
MLS# 50204136
Copyright © 2026 Multiple Listing Service MiRealSource. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Garfield Landing is a 14,800-square-foot shopping center built in 1979, with approximately 7,600 square feet currently available in two areas measuring 5,200 SF and 2,400 SF. The property includes a flat roof, forced-air heating, public water service, and a surface parking lot. The available space supports retail, restaurant, and office uses as described in the offering materials.
An additional 3.05 acres of land is located behind the shopping center, providing separate land area alongside the existing improvements. The property is situated at 41560–41660 Garfield Road in Clinton Township, within Macomb County, Michigan.
An additional 3.05 acres of land is located behind the shopping center, providing separate land area alongside the existing improvements. The property is situated at 41560–41660 Garfield Road in Clinton Township, within Macomb County, Michigan.
Key Highlights
- 14,800‑square‑foot shopping center built in 1979
- Approximately 7,600 SF available in 5,200 SF and 2,400 SF areas
- Additional 3.05 acres located behind the shopping center
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$109,402
Cap Rate
5.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,188,040
$2.2M
Cap Rate 7%
$1,562,886
$1.6M
Cap Rate 9%
$1,215,578
$1.2M
Market Conditions
NOI Build-Up for 14,800 SF
Gross rent
$177.6K $12.00/SF
− Vacancy
−$21.3K −$1.44/SF
EGI
$156.3K $10.56/SF
− OpEx
−$46.9K −$3.17/SF
NOI
$109.4K $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%
$2,188,040
Cap Rate 7%
$1,562,886
Cap Rate 9%
$1,215,578
Alternative Uses
Best Use
Retail
$1.56M
$1.37M – $1.82M
NOI $109,402 @ 7.0% cap · market cap 5.77%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.77M
$2.42M – $3.23M
NOI $193,956 @ 7.0% cap · market cap 10.24%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
548
Businesses Nearby
207k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 41%
Dining 33%
Groceries 25%
Beauty & Spa 1%
Kroger
Groceries
52,393 visits/mo
0.2 miles
McDonald's
Dining
28,264 visits/mo
0.1 miles
Taco Bell
Dining
14,815 visits/mo
0.1 miles
Dollar Tree
Shops & Services
14,502 visits/mo
0.3 miles
Pet Supplies Plus
Shops & Services
13,938 visits/mo
0.4 miles
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
Properties on Market for Shopping centers in Macomb County
Vacancy Rate% for Retail in Midwest region
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 - Two available areas can accommodate retail, restaurant, or office users within an established shopping center.
Where is this shopping center located?
The property is located at 41560 - 41660 Garfield Road Clinton Township, MI.
What is the asking price?
The asking price for this property is $1,895,000.
What are key features of this property?
This property features: 14,800‑square‑foot shopping center built in 1979; Approximately 7,600 SF available in 5,200 SF and 2,400 SF areas; Additional 3.05 acres located behind the shopping center
