Retail Center with Freeway
For Sale
Contact for pricing
506 W 14 Mile Rd, Troy, MI 48083
Retail center in GB zoning with existing occupancy and access to major freeways via I-75.
Property Size15,154 SF
Price / SF$0.00
Days on Market342
Property Features for 506 W 14 Mile Rd
General Information
Standard status
Active
Size
15,154 SF
Property subtype
Retail
Zoning
GB
Occupancy
73%
Net Operating Income
$231,034
Additional Details
Asking Price
$3,200,000
Highway Access
Yes
Building Details
Building Size
15,154 SF
Tenancy
Multi
Listing Agency:
Friedman Integrated Real Estate
Listed By:
Joel Kestenberg · License #6501393354
(248) 324-2000
Source:
Cpix.resimplifi
Added: Nov 11, 2025
Changed: Oct 15
Last Checked: Oct 19 at 3:16AM
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 Friedman Integrated Real Estate
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Investment Insights
Based on property information with market context.
This 15,154-square-foot retail center in Troy, Michigan is configured for multi-tenant commercial use and is currently 73% occupied. The property offers an established retail setting with multiple occupants and an existing operating profile for an owner-user or investor.
Access to major freeways is available through I-75, supporting connectivity across the surrounding market. The property is zoned GB and includes a diverse tenant mix within the center. Its current occupancy and multi-tenant format provide a foundation for continued retail operations and future leasing activity.
Access to major freeways is available through I-75, supporting connectivity across the surrounding market. The property is zoned GB and includes a diverse tenant mix within the center. Its current occupancy and multi-tenant format provide a foundation for continued retail operations and future leasing activity.
Key Highlights
- 15,154 SF retail center in Troy, MI
- 73% occupied
- GB zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$163,063
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,261,260
$3.3M
Cap Rate 7%
$2,329,471
$2.3M
Cap Rate 9%
$1,811,811
$1.8M
Market Conditions
NOI Build-Up for 15,154 SF
Gross rent
$254.6K $16.80/SF
− Vacancy
−$21.6K −$1.43/SF
EGI
$232.9K $15.37/SF
− OpEx
−$69.9K −$4.61/SF
NOI
$163.1K $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%
$3,261,260
Cap Rate 7%
$2,329,471
Cap Rate 9%
$1,811,811
Alternative Uses
Best Use
Retail
$2.33M
$2.04M – $2.72M
NOI $163,063 @ 7.0% cap · market cap 815,315.00%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.27M
$2.86M – $3.81M
NOI $228,801 @ 7.0% cap · market cap 1,144,005.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
73%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
994
Businesses Nearby
555k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 36%
Shops & Services 24%
Dining 16%
Electronics 14%
Kohl's
Apparel
79,986 visits/mo
0.4 miles
Micro Center
Electronics
60,568 visits/mo
0.3 miles
T.J. Maxx
Apparel
56,794 visits/mo
0.4 miles
JCPenney
Apparel
45,977 visits/mo
0.2 miles
Michaels
Shops & Services
43,159 visits/mo
0.4 miles
Demographics for 48083, MI
24,074
Population
10,437
Households
2.3
Avg Household Size
41
Median Age
53%
College-Educated
91%
High-School Grad
8.6 sq mi
ZIP Area
2,799
Density / Sq Mi
$88,551
Median Household Income
$53,204
Median Earnings
$1,277
Median Rent
$293,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- Madison Place — Madison Place, John R Rd, Madison Heights, MI 48071
- Campbell Corners — 1465 W 14 Mile Rd, Madison Heights, MI 48071
- Sunglass Hut at Macy's — 500 W 14 Mile Rd, Troy, MI 48083
- Oakland Mall — 412 W 14 Mile Rd, Troy, MI 48083
- Oakland Plaza — 372 John R Rd, Troy, MI 48083
Frequently Asked Questions
What type of property is this?
Shopping center - Retail center in GB zoning with existing occupancy and access to major freeways via I-75.
Where is this shopping center located?
The property is located at 506 W 14 Mile Rd Troy, MI.
What are key features of this property?
This property features: 15,154 SF retail center in Troy, MI; 73% occupied; GB zoning
