Commercial Redevelopment
For Sale
Contact for pricing
6750 Orchard Lake Road, West Bloomfield, MI 48322
Commercial land offering substantial frontage, on-site parking, and daily vehicle exposure.
Property Size30,000 SF
Price / SF$183.33
Days on Market15
Property Features for 6750 Orchard Lake Road
General Information
Standard status
Active
Size
30,000 SF
Total Parking Spaces
236
Property subtype
Retail, Land
Investment Type
Redevelopment
Listing Agency:
Icon Commercial Experts
Listed By:
Fanar Ayar · License #6502433957
Source:
Crexi
Added: Jul 29
Changed: Aug 10
Last Checked: Aug 11 at 9:39AM
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 Icon Commercial Experts
Investment Insights
Based on property information with market context.
This commercial land offering encompasses approximately 4.2 acres and includes about 30,000 square feet of existing property area. The site provides 236 parking spaces, expansive road frontage, and physical characteristics suited to commercial redevelopment.
Located at 6750 Orchard Lake Road in West Bloomfield, Michigan, the property benefits from exposure to more than 44,000 vehicles each day. Its position within an established retail corridor supports consideration for a range of commercial redevelopment plans, subject to applicable approvals.
Located at 6750 Orchard Lake Road in West Bloomfield, Michigan, the property benefits from exposure to more than 44,000 vehicles each day. Its position within an established retail corridor supports consideration for a range of commercial redevelopment plans, subject to applicable approvals.
Key Highlights
- Approximately 4.2 acres of commercial land
- About 30,000 square feet of property area
- 236 parking spaces
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
$322,812
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
5.87%
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%
$6,456,240
$6.5M
Cap Rate 7%
$4,611,600
$4.6M
Cap Rate 9%
$3,586,800
$3.6M
Market Conditions
NOI Build-Up for 30,000 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
$504.0K $16.80/SF
− Vacancy
−$42.8K −$1.43/SF
EGI
$461.2K $15.37/SF
− OpEx
−$138.3K −$4.61/SF
NOI
$322.8K $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 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%
$6,456,240
Cap Rate 7%
$4,611,600
Cap Rate 9%
$3,586,800
Alternative Uses
Best Use
Retail
$4.61M
$4.04M – $5.38M
NOI $322,812 @ 7.0% cap · market cap 5.87%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.47M
$5.66M – $7.55M
NOI $452,952 @ 7.0% cap · market cap 8.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,431
Businesses Nearby
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Commercial land offering substantial frontage, on-site parking, and daily vehicle exposure.
Where is this commercial land located?
The property is located at 6750 Orchard Lake Road West Bloomfield, MI.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: Approximately 4.2 acres of commercial land; About 30,000 square feet of property area; 236 parking spaces
