Commercial Building on Dixie
For Sale
$435,000
4680 Dixie Hwy, Waterford, MI 48329
2,500 SF commercial building on high-traffic Dixie Highway.
Property Size2,519 SF
Lot Size0.35 Acres
Price / SF$174
Days on Market149
Property Features for 4680 Dixie Hwy
General Information
Standard status
Active
Size
2,519 SF
Lot size
0.35 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$5,124
Building Details
Building Size
2,519 SF
Year Built
1961
Listing Agency:
KW Professionals
(586) 481-5994
Listed By:
Kristin Nouhan · License #6502408794
(586) 481-5994
Source:
Elliman
Added: Mar 26
Changed: Aug 16
Last Checked: Aug 20 at 8:03AM
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 KW Professionals
Investment Insights
Based on property information with market context.
This 2,500 square foot commercial building is located on Dixie Highway in Oakland County. The solid, all-brick structure offers a flexible layout with the potential for up to 10 salon or service booths. Previously operated as a dental office and beauty salon, the property features extensive plumbing throughout, making it suitable for conversion to salon suites, medical, dental, veterinary, professional office, or retail use. The building offers visibility with signage on two facades, plus rooftop signage. There are three restrooms and 22 on-site parking spaces. The property has strong road frontage in an established commercial corridor. It is suitable for either an owner-user or as an investment opportunity.
Key Highlights
- High‑traffic location on Dixie Highway in Oakland County.
- Flexible 2,500 sq ft all‑brick building suitable for various uses.
- Extensive plumbing throughout, ideal for salon suites, medical or dental conversion.
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
$33,831
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
7.78%
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%
$676,620
$676.6K
Cap Rate 7%
$483,300
$483.3K
Cap Rate 9%
$375,900
$375.9K
Market Conditions
NOI Build-Up for 2,500 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
$63.0K $25.20/SF
− Vacancy
−$6.6K −$2.65/SF
EGI
$56.4K $22.55/SF
− OpEx
−$22.6K −$9.02/SF
NOI
$33.8K $13.53/SF
Area
Oakland County, MI
Vacancy
10.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
40.00%
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%
$676,620
Cap Rate 7%
$483,300
Cap Rate 9%
$375,900
Alternative Uses
Best Use
Healthcare Medical
$483.3K
$422.9K – $563.9K
NOI $33,831 @ 7.0% cap · market cap 7.78%
Second Best
Retail
$384.3K
$336.3K – $448.4K
NOI $26,901 @ 7.0% cap · market cap 6.18%
Theoretical Best
Specialty Retail
$539.2K
$471.8K – $629.1K
NOI $37,746 @ 7.0% cap · market cap 8.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
657
Businesses Nearby
Under-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 Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - 2,500 SF commercial building on high-traffic Dixie Highway.
Where is this medical office space located?
The property is located at 4680 Dixie Hwy Waterford, MI.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: High‑traffic location on Dixie Highway in Oakland County.; Flexible 2,500 sq ft all‑brick building suitable for various uses.; Extensive plumbing throughout, ideal for salon suites, medical or dental conversion.
