Retail Space For
For Sale
Contact for pricing
44905 Morley Dr, Clinton Township, MI 48036
Retail space available for purchase in Clinton Township, Michigan.
Property Size21,756 SF
Price / SF$147.09
Days on Market822
Property Features for 44905 Morley Dr
General Information
Standard status
Active
Size
21,756 SF
Property subtype
Retail
Zoning
B-2
Occupancy
56%
Lease Type
Gross
Investment Type
Owner/User
Net Operating Income
$75,000
Building Details
Tenancy
Multi
Listing Agency:
Landmark Commercial Real Estate Services
(313) 570-2026
Listed By:
Louis J. Ciotti · License #MI 6501335264
Source:
Crexi
Added: May 22, 2024
Changed: Aug 12
Last Checked: Aug 20 at 5:27AM
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 Landmark Commercial Real Estate Services
Investment Insights
Based on property information with market context.
A retail space is available for sale. The property is located in Clinton Township, Michigan. The property has a size of 21756 square feet.
Key Highlights
- No property information was provided to analyze.
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
$160,820
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
5.03%
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%
$3,216,400
$3.2M
Cap Rate 7%
$2,297,429
$2.3M
Cap Rate 9%
$1,786,889
$1.8M
Market Conditions
NOI Build-Up for 21,756 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
$261.1K $12.00/SF
− Vacancy
−$31.3K −$1.44/SF
EGI
$229.7K $10.56/SF
− OpEx
−$68.9K −$3.17/SF
NOI
$160.8K $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 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%
$3,216,400
Cap Rate 7%
$2,297,429
Cap Rate 9%
$1,786,889
Alternative Uses
Best Use
Retail
$2.30M
$2.01M – $2.68M
NOI $160,820 @ 7.0% cap · market cap 5.03%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.07M
$3.56M – $4.75M
NOI $285,115 @ 7.0% cap · market cap 8.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
431
Businesses Nearby
69k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 57%
Dining 43%
Speedway
Shops & Services
25,994 visits/mo
0.4 miles
Wendy's
Dining
14,032 visits/mo
0.5 miles
Tim Hortons
Dining
12,533 visits/mo
0.5 miles
Shell
Shops & Services
10,576 visits/mo
0.5 miles
Penn Station East Coast Subs
Dining
3,222 visits/mo
0.3 miles
Demographics for 48036, MI
22,517
Population
9,855
Households
2.3
Avg Household Size
41
Median Age
22%
College-Educated
93%
High-School Grad
8.3 sq mi
ZIP Area
2,713
Density / Sq Mi
$65,109
Median Household Income
$36,730
Median Earnings
$1,018
Median Rent
$201,000
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?
Retail space - Retail space available for purchase in Clinton Township, Michigan.
Where is this retail space located?
The property is located at 44905 Morley Dr Clinton Township, MI.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: No property information was provided to analyze.
