Building Details

Buildings 1

Construction Block Building

Listing Agency: Wilhelm & Associates Show Phone

Listed By: Tom Wilhelm · License #6501196948 Show Phone

Source: Moodyscre

Added: Sep 24 Changed: Sep 29 Last Checked: Oct 4 at 11:57AM

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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 Wilhelm & Associates

Investment Insights

Based on property information with market context.

The 3,017-square-foot block building has 12-foot ceilings and a rear grade-level door. It is zoned C-2 and previously operated as an auto shop. A vacant parcel behind the building, zoned light industrial, is included in the sale.

The property is at the corner of Dixie Hwy and Frembes Rd in Waterford, with reported traffic of more than 66,000 vehicles per day.

Key Highlights

• 3,017‑square‑foot block building with 12' ceilings
• Rear grade‑level door
• C‑2 zoning for the building

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$32,464

Cap Rate

6.49%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$649,280 $649.3K

Cap Rate 7%

$463,771 $463.8K

Cap Rate 9%

$360,711 $360.7K

Market Conditions

NOI Build-Up for 3,017 SF

Gross rent

$50.7K $16.80/SF

− Vacancy

−$4.3K −$1.43/SF

EGI

$46.4K $15.37/SF

− OpEx

−$13.9K −$4.61/SF

NOI

$32.5K $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 Rate 5%

$649,280

Cap Rate 7%

$463,771

Cap Rate 9%

$360,711

Alternative Uses

Best Use

Retail

$463.8K

$405.8K – $541.1K (±1% cap)

NOI $32,464 @ 7.0% cap · market cap 6.49%

Second Best

Industrial

$213.5K

$186.9K – $249.1K (±1% cap)

NOI $14,948 @ 7.0% cap · market cap 2.99%

Theoretical Best

Specialty Retail

$650.7K

$569.4K – $759.2K (±1% cap)

NOI $45,552 @ 7.0% cap · market cap 9.11%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Auto shops

Suggested Use

Top Pick Real Estate Agency Law Firm Hair Salon Nail Salon Restaurant Skin Care Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

66,000 VPD

Traffic count

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

599

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 48329, MI

24,391

Population

10,249

Households

2.4

Avg Household Size

45

Median Age

29%

College-Educated

94%

High-School Grad

10.3 sq mi

ZIP Area

2,368

Density / Sq Mi

$85,777

Median Household Income

$48,837

Median Earnings

$1,323

Median Rent

$245,800

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this auto shops located? What is the asking price? Find similar properties What are key features of this property?

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Similar Off Market Nearby

• Just A Hobby — 5146 Hatchery Rd, Waterford Twp, MI 48329
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• Cross Towing — 4539 dixie hwy, waterford twp, mi 48329
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Frequently Asked Questions

What type of property is this?

Auto shop - A separate rear parcel zoned light industrial is included with the building.

Where is this auto shop located?

The property is located at 4480 Dixie Hwy Waterford, MI.

What is the asking price?

The asking price for this property is $499,900.

What are key features of this property?

This property features: 3,017‑square‑foot block building with 12' ceilings; Rear grade‑level door; C‑2 zoning for the building