Highland Road Retail
For Sale
Contact for pricing
4301 Highland Rd, Waterford, MI 48328
Former Discount Tire available on Highland Road.
Property Size8,892 SF
Lot Size0.88 Acres
Price / SF$123.71
Days on Market666
Property Features for 4301 Highland Rd
General Information
Standard status
Active
Size
8,892 SF
Class
A
Lot size
0.88 Acres
Property subtype
Retail, Land
Zoning
BI
Building Details
Year Built
1988
Listing Agency:
Mid-America Real Estate - Michigan, Inc.
Listed By:
Jared Gell · License #6501329516
Source:
Crexi
Added: Oct 26, 2024
Changed: Aug 21
Last Checked: Aug 21 at 10:11AM
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 Mid-America Real Estate - Michigan, Inc.
Investment Insights
Based on property information with market context.
The property is a former Discount Tire building available for sale or lease, situated on Highland Road, east of Pontiac Lake Road and directly across from Meijer. Adjacent to Gordon Food Service, the 8,892 square foot building was constructed in 1988 on a 0.876-acre lot. The property features 4 repair bays and 24 parking spaces. A large pylon sign is located on Highland Road. Zoned C-3, the property offers a variety of potential uses. Highland Road sees over 38,000 cars per day, providing high visibility and traffic. The property has 122 feet of frontage along Highland Road.
Key Highlights
- High traffic location on Highland Road with over 38,000 cars per day
- Directly across from Meijer and adjacent to Gordon Food Service, generating significant customer traffic
- Zoned C‑3, offering a wide variety of potential uses
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
$95,681
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
8.70%
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%
$1,913,620
$1.9M
Cap Rate 7%
$1,366,871
$1.4M
Cap Rate 9%
$1,063,122
$1.1M
Market Conditions
NOI Build-Up for 8,892 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
$149.4K $16.80/SF
− Vacancy
−$12.7K −$1.43/SF
EGI
$136.7K $15.37/SF
− OpEx
−$41.0K −$4.61/SF
NOI
$95.7K $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%
$1,913,620
Cap Rate 7%
$1,366,871
Cap Rate 9%
$1,063,122
Alternative Uses
Best Use
Retail
$1.37M
$1.20M – $1.59M
NOI $95,681 @ 7.0% cap · market cap 8.70%
Second Best
Industrial
$629.4K
$550.7K – $734.3K
NOI $44,057 @ 7.0% cap · market cap 4.01%
Theoretical Best
Specialty Retail
$1.92M
$1.68M – $2.24M
NOI $134,255 @ 7.0% cap · market cap 12.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
417
Businesses Nearby
163k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 62%
Shops & Services 20%
Dining 14%
Beauty & Spa 1%
Meijer
Groceries
87,771 visits/mo
0.2 miles
Dollar Tree
Shops & Services
15,957 visits/mo
0.1 miles
Gordon Food Service
Groceries
13,549 visits/mo
0.0 miles
Checkers
Dining
7,067 visits/mo
0.1 miles
Jersey Mike's Subs
Dining
7,056 visits/mo
0.2 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
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- RJS Quick Lube and Auto Center — 3735 Highland Rd, Waterford Twp, MI 48328
- Aaron's Auto Services — 4337 Highland Rd, Waterford Twp, MI 48328
- USA Transmission & Complete Auto Repair — 4343 Highland Rd, Waterford Twp, MI 48327
- Discount USA Auto Repair — 4343 Highland Rd, Waterford Twp, MI 48327
- Mr Quick Lube — 4331 Highland Rd, Waterford Twp, MI 48328
Frequently Asked Questions
What type of property is this?
Auto shop - Former Discount Tire available on Highland Road.
Where is this auto shop located?
The property is located at 4301 Highland Rd Waterford, MI.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: High traffic location on Highland Road with over 38,000 cars per day; Directly across from Meijer and adjacent to Gordon Food Service, generating significant customer traffic; Zoned C‑3, offering a wide variety of potential uses
