M-59 & Mound Road
For Sale
$2,300,000
45100 Mound Road, Shelby Township, MI 48317
Retail property with frontage on M-59 and Mound Road.
Property Size19,635 SF
Price / SF$117.14
Days on Market330
Property Features for 45100 Mound Road
General Information
Standard status
Active
Size
19,635 SF
Property subtype
Retail
Building Details
Building Size
19,635 SF
Year Built
1977
Listing Agency:
Signature Associates Southfield
(248) 404-7015
Listed By:
Ben Wilkiemeyer · License #6501295481
(248) 404-7015
Source:
Tcnworldwide
Added: Sep 25, 2025
Changed: Aug 20
Last Checked: Aug 20 at 5:59AM
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 Southfield
Investment Insights
Based on property information with market context.
This property presents a rare purchase opportunity, featuring access and frontage on both M-59, with 264 feet of frontage, and Mound Road, offering 150 feet of frontage. Formerly a racquetball facility, the 19,635 square foot property could be repurposed for similar use. It also holds great potential for a complete retail development.
Key Highlights
- Dual frontage on M‑59 (264') and Mound Road (150').
- High potential for retail development.
- Rare purchase opportunity.
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
$145,142
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
6.31%
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%
$2,902,840
$2.9M
Cap Rate 7%
$2,073,457
$2.1M
Cap Rate 9%
$1,612,689
$1.6M
Market Conditions
NOI Build-Up for 19,635 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
$235.6K $12.00/SF
− Vacancy
−$28.3K −$1.44/SF
EGI
$207.3K $10.56/SF
− OpEx
−$62.2K −$3.17/SF
NOI
$145.1K $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%
$2,902,840
Cap Rate 7%
$2,073,457
Cap Rate 9%
$1,612,689
Alternative Uses
Best Use
Retail
$2.07M
$1.81M – $2.42M
NOI $145,142 @ 7.0% cap · market cap 6.31%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.68M
$3.22M – $4.29M
NOI $257,319 @ 7.0% cap · market cap 11.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
490
Businesses Nearby
160k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 50%
Dining 38%
Shops & Services 12%
Walmart
Superstores
80,473 visits/mo
0.4 miles
Texas Roadhouse
Dining
26,838 visits/mo
0.5 miles
Buffalo Wild Wings
Dining
12,889 visits/mo
0.4 miles
Burger King
Dining
10,964 visits/mo
0.2 miles
Marathon
Shops & Services
7,975 visits/mo
0.5 miles
Demographics for 48317, MI
27,864
Population
12,936
Households
2.2
Avg Household Size
39
Median Age
32%
College-Educated
90%
High-School Grad
12.0 sq mi
ZIP Area
2,322
Density / Sq Mi
$72,465
Median Household Income
$41,895
Median Earnings
$1,227
Median Rent
$248,700
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?
Retail property - Retail property with frontage on M-59 and Mound Road.
Where is this retail property located?
The property is located at 45100 Mound Road Shelby Township, MI.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Dual frontage on M‑59 (264') and Mound Road (150').; High potential for retail development.; Rare purchase opportunity.
