Building Details

Building Size 2,400 SF

Year Built 1973

Listing Agency: Friedman Integrated Real Estate

Listed By: Robert Hibbert Show Phone

Source: Friedmanrealestate

Added: Mar 26 Changed: Oct 4 Last Checked: Oct 16 at 7:36AM

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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 commercial real estate property, identified as retail space, is available for sale. The property offers a total size of 2400 square feet and is located on Highland Rd in White Lake charter Township, MI.

Key Highlights

• Established neighborhood built in 1973

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$25,825

Cap Rate

6.08%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$516,500 $516.5K

Cap Rate 7%

$368,929 $368.9K

Cap Rate 9%

$286,944 $286.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,400 SF

Gross rent

$40.3K $16.80/SF

− Vacancy

−$3.4K −$1.43/SF

EGI

$36.9K $15.37/SF

− OpEx

−$11.1K −$4.61/SF

NOI

$25.8K $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 Rate 5%

$516,500

Cap Rate 7%

$368,929

Cap Rate 9%

$286,944

Alternative Uses

Best Use

Retail

$368.9K

$322.8K – $430.4K (±1% cap)

NOI $25,825 @ 7.0% cap · market cap 6.08%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$517.7K

$453.0K – $603.9K (±1% cap)

NOI $36,236 @ 7.0% cap · market cap 8.53%

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

Property Analytics

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Current Use

Retail space

Suggested Use

Top Pick Real Estate Agency Building Supply Law Firm Dental Office Auto Repair Shop Hair Salon

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

104

Businesses Nearby

Explore this area Business Placement

Demographics for 48383, MI

13,171

Population

5,066

Households

2.6

Avg Household Size

42

Median Age

35%

College-Educated

94%

High-School Grad

16.7 sq mi

ZIP Area

789

Density / Sq Mi

$98,617

Median Household Income

$45,534

Median Earnings

$1,143

Median Rent

$305,300

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

Similar For Sale Nearby

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Retail Property for Sale

10150 Highland Road, White Lake, MI 49441

$5,196,098

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Industrial Warehouse with Outdoor Storage

8190 Old White Lake Rd, White Lake, MI 48386

$2,100,000

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Filling Station Burger Bar Restaurant

9260 Cooley Lake Rd, White Lake, MI 48386

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Frequently Asked Questions

What type of property is this?

Retail space - Retail space available for purchase in White Lake Township.

Where is this retail space located?

The property is located at 7001 Highland Road White Lake, MI.

What is the asking price?

The asking price for this property is $425,000.

What are key features of this property?

This property features: Established neighborhood built in 1973