Renovated Commercial Property on
For Sale
$4,500,000
5900 Highland Road Waterford, Waterford, MI 48327
Renovated 49,434 SF building on approximately 7.5 acres.
Property Size49,434 SF
Lot Size7.28 Acres
Price / SF$91.03
Days on Market224
Property Features for 5900 Highland Road Waterford
General Information
Standard status
Active
Size
49,434 SF
Total Parking Spaces
1500
Lot size
7.28 Acres
Zoning
B1
Taxes and HOA fees
Annual Taxes
$64,968
Amenities
true
4
1
Real Estate
7.28
1500
396X731X367X496X199X60X173X175
false
Slab
49434
5
Building Details
Building Size
49,434 SF
Year Built
1993
Buildings
5
Listed By:
Jose Sigala
(269) 399-5881
Source:
Remax-executive
Added: Mar 11
Changed: Oct 10
Last Checked: Oct 7 at 9:21AM
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 Jose Sigala
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This commercial property, built in 1972 and fully renovated in 2023, features 49,434 square feet of building space on just under 7.5 acres of land. The property is located at 5900 Highland Road, Waterford, MI 48327. The front portion of the building has been used for automotive dealership sales and is suitable for businesses requiring retail store frontage or client services, with private offices for management. The property is partially leased, with just under 20% currently occupied through June 30, 2029. The property consists of two parcels: 1316352020 (6.359 acres) and 1316352029 (0.918 acres).
Key Highlights
- Fully renovated in 2023.
- Large building space: 49,434 square feet.
- Sits on just under 7.5 acres of land.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$244,927
Cap Rate
5.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,898,540
$4.9M
Cap Rate 7%
$3,498,957
$3.5M
Cap Rate 9%
$2,721,411
$2.7M
Market Conditions
NOI Build-Up for 49,434 SF
Gross rent
$363.3K $7.35/SF
− Vacancy
−$13.4K −$0.27/SF
EGI
$349.9K $7.08/SF
− OpEx
−$105.0K −$2.12/SF
NOI
$244.9K $4.95/SF
Area
Oakland County, MI
Vacancy
3.70%
Lease Rate
$7.35 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,898,540
Cap Rate 7%
$3,498,957
Cap Rate 9%
$2,721,411
Alternative Uses
Best Use
Retail
$7.60M
$6.65M – $8.87M
NOI $531,930 @ 7.0% cap · market cap 11.82%
Second Best
Industrial
$3.50M
$3.06M – $4.08M
NOI $244,927 @ 7.0% cap · market cap 5.44%
Theoretical Best
Specialty Retail
$10.66M
$9.33M – $12.44M
NOI $746,374 @ 7.0% cap · market cap 16.59%
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
Location Intelligence
Trade Area within ½ mile
315
Businesses Nearby
107k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 52%
Shops & Services 45%
Electronics 2%
Home Improvements & Furnishings 1%
Speedway
Shops & Services
25,009 visits/mo
0.1 miles
McDonald's
Dining
23,896 visits/mo
0.1 miles
Citgo
Shops & Services
12,369 visits/mo
0.3 miles
Wendy's
Dining
10,085 visits/mo
0.3 miles
Arby's
Dining
7,203 visits/mo
0.2 miles
Demographics for 48327, MI
21,811
Population
9,864
Households
2.2
Avg Household Size
41
Median Age
32%
College-Educated
94%
High-School Grad
11.3 sq mi
ZIP Area
1,930
Density / Sq Mi
$75,512
Median Household Income
$46,259
Median Earnings
$1,058
Median Rent
$241,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- Car Rental Waterford — 6510 highland rd, waterford twp, mi 48327
- Enterprise Rent-A-Car — 6175 Highland Rd, Waterford Twp, MI 48327
- U-Haul Neighborhood Dealer — 5684 Highland Rd, Waterford Twp, MI 48327, United States
- Hertz Car Rental — 6260 North Service Drive, Waterford Twp, MI 48327
Frequently Asked Questions
What type of property is this?
Automotive property - Renovated 49,434 SF building on approximately 7.5 acres.
Where is this automotive property located?
The property is located at 5900 Highland Road Waterford Waterford, MI.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: Fully renovated in 2023.; Large building space: **49,434 square feet.**; Sits on just under 7.5 acres of land.
