Freestanding Building For
For Sale
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43335 Michigan Avenue, Canton, MI 48188
20,140 square foot freestanding building available for sale.
Property Size20,140 SF
Price / SF$181.23
Days on Market210
Property Features for 43335 Michigan Avenue
General Information
Standard status
Active
Size
20,140 SF
Total Parking Spaces
150
Property subtype
Retail
Zoning
C-3
Building Details
Year Built
2018
Stories
1
Listing Agency:
Signature Associates
(248) 799-3143
Listed By:
Justin Gaffrey · License #MI 6501317055
Source:
Crexi
Added: Jan 23
Changed: Aug 11
Last Checked: Aug 20 at 4:24PM
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 Signature Associates
Investment Insights
Based on property information with market context.
A freestanding building with 20,140 square feet of space is available for sale.
Key Highlights
- Freestanding Building
- 20,140 Square Feet Available**
- Built in 2018
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
$190,831
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
5.23%
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%
$3,816,620
$3.8M
Cap Rate 7%
$2,726,157
$2.7M
Cap Rate 9%
$2,120,344
$2.1M
Market Conditions
NOI Build-Up for 20,140 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
$290.0K $14.40/SF
− Vacancy
−$17.4K −$0.86/SF
EGI
$272.6K $13.54/SF
− OpEx
−$81.8K −$4.06/SF
NOI
$190.8K $9.48/SF
Area
Wayne County, MI
Vacancy
6.00%
Lease Rate
$14.40 /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%
$3,816,620
Cap Rate 7%
$2,726,157
Cap Rate 9%
$2,120,344
Alternative Uses
Best Use
Retail
$2.73M
$2.39M – $3.18M
NOI $190,831 @ 7.0% cap · market cap 5.23%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.73M
$3.26M – $4.35M
NOI $261,014 @ 7.0% cap · market cap 7.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
110
Businesses Nearby
16k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 93%
Shops & Services 7%
Tractor Supply Co.
Home Improvements & Furnishings
15,377 visits/mo
0.4 miles
Extra Space Storage
Shops & Services
736 visits/mo
0.4 miles
Gerber Collision & Glass
Shops & Services
383 visits/mo
0.4 miles
Demographics for 48188, MI
46,161
Population
16,885
Households
2.7
Avg Household Size
38
Median Age
56%
College-Educated
95%
High-School Grad
17.9 sq mi
ZIP Area
2,579
Density / Sq Mi
$118,037
Median Household Income
$61,721
Median Earnings
$1,536
Median Rent
$356,700
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - 20,140 square foot freestanding building available for sale.
Where is this storefront property located?
The property is located at 43335 Michigan Avenue Canton, MI.
What is the asking price?
The asking price for this property is $3,650,000.
What are key features of this property?
This property features: Freestanding Building; 20,140 Square Feet Available**; Built in 2018
