Listed By: Alex Kallo Show Phone

Added: Apr 23

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Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$43,042

Cap Rate

6.15%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$860,840 $860.8K

Cap Rate 7%

$614,886 $614.9K

Cap Rate 9%

$478,244 $478.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,000 SF

Gross rent

$67.2K $16.80/SF

− Vacancy

−$5.7K −$1.43/SF

EGI

$61.5K $15.37/SF

− OpEx

−$18.4K −$4.61/SF

NOI

$43.0K $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%

$860,840

Cap Rate 7%

$614,886

Cap Rate 9%

$478,244

Alternative Uses

Best Use

Retail

$614.9K

$538.0K – $717.4K (±1% cap)

NOI $43,042 @ 7.0% cap · market cap 6.15%

Second Best

Industrial

$283.1K

$247.7K – $330.3K (±1% cap)

NOI $19,819 @ 7.0% cap · market cap 2.83%

Theoretical Best

Specialty Retail

$862.8K

$754.9K – $1.01M (±1% cap)

NOI $60,394 @ 7.0% cap · market cap 8.63%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Automotive properties

Suggested Use

Top Pick Law Firm Parking Lot & Garage Real Estate Agency Restaurant Daycare Center Cafe & Coffee Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

371

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 48322, MI

32,188

Population

13,481

Households

2.4

Avg Household Size

47

Median Age

58%

College-Educated

94%

High-School Grad

11.7 sq mi

ZIP Area

2,751

Density / Sq Mi

$118,001

Median Household Income

$59,991

Median Earnings

$1,975

Median Rent

$374,000

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Frequently Asked Questions

What type of property is this?

Automotive property - Reach out for more details.

Where is this automotive property located?

The property is located at 6621 Orchard Lake Rd West Bloomfield, MI.

What is the asking price?

The asking price for this property is $700,000.