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    Retail Plaza with Liquor Store Title is generated by Realmo AI

    694-722 W Huron Street, Pontiac, MI 48341

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    For Sale
    $3,150,000

    COMMERCIAL - Pontiac, MI

    Property size:
    11,741 SF
    Lot size:
    0.57 Acres
    Price / SF:
    $268/SF
    Added:
    Jun 14, 2024
    Days on Market:
    721
    Last Refresh:
    Jun 4 at 2:06 pm

    Property Features for 694-722 W Huron Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    14-30-451-013
    Size
    11,741 SF
    Lot size
    0.57 Acres

    Taxes and HOA fees

    Tax Year
    2022
    Tax Annual Amount
    10596

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1948
    Roof type
    Asphalt

    We can help!

    Listing Contact
    Mays Al Raheem

    Listing agent Mays Al Raheem License #6501424266

    Listing office Century 21 Professionals Sterling Heights 40682 Ryan Rd, Sterling Heights, MI

    Listing date Jun 14, 2024

    MLS# 50145396

    Copyright © 2026 Multiple Listing Service MiRealSource. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 10‑unit plaza includes a liquor store plus additional income sources such as Lotto and ATM/check cashing
    • Store income reported at $50k/week and units income reported at $18,600k/month
    • Additional income reported at $30k/yearly from Lotto and $1700 from an ATM
    • Check cashing income reported at $2,500/month
    • Equipped with walking coolers and forced air heating with central air cooling
    • Year built 1948 with public water and an asphalt roof

    Overview

    This listing features a 10-unit retail plaza with a liquor store on-site. The property is reported to include additional income-producing components such as a lotto arrangement, an ATM, and check cashing. The plaza also has 30 walking coolers, supporting retail-ready food and beverage merchandising. The offering is 11,741 square feet on a 0.57-acre lot, and it is being marketed for sale.

    The property is located at 694–722 W Huron Street in Pontiac, Michigan 48341, in Oakland County. For more detailed leasing and operational information, the listing notes that interested parties should contact the listing agent.

    For buyers or operators seeking a multi-unit retail format, this center presents a liquor store anchor paired with several ancillary retail services referenced in the remarks, which may support day-to-day traffic and customer convenience for the surrounding trade area. The seller’s public remarks also reference current income figures tied to the store and other components, along with the lotto and check-cashing activity. Please direct all underwriting and due-diligence questions to the listing agent, as staff are requested not to be approached during work hours.
    Property Profile Location Intelligence

    Current Use by Public Records

    Strip malls

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Pontiac
    County
    Oakland
    State
    Michigan
    Longitude
    -83.2983
    Latitude
    42.6276

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    FAQs

    What type of property is this?
    Strip mall - Ten-unit retail plaza anchored by a liquor store, with multiple income-generating services per seller remarks.
    Where is this strip mall located?
    The property is located at 694-722 W Huron Street Pontiac, MI.
    What is the asking price?
    The asking price for this property is $3,150,000.
    What are key features of this property?
    This property features: 10‑unit plaza includes a liquor store plus additional income sources such as Lotto and ATM/check cashing; Store income reported at $50k/week and units income reported at $18,600k/month; Additional income reported at $30k/yearly from Lotto and $1700 from an ATM
    (248) 991-5010
    We can help!
    Listing Contact
    Mays Al Raheem
    Real Estate License ID: 6501424266
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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