Standalone Barber Shop
For Sale
$350,000
7045 Cooley Lake Road, West Bloomfield, MI 48324
Commercial Sale, West Bloomfield, MI
Property Size1,120 SF
Lot Size0.14 Acres
Price / SF$312.50
Days on Market263
Property Features for 7045 Cooley Lake Road
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
B4
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Interior features
Broadband
Elementary school district
Waterford
Middle school district
Waterford
High school district
Waterford
Directions
Colley Lake between union lake and Lochaven
Subdivision
Oakland County - 70
Standard status
Active
APN
18-06-229-016
Size
1,120 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
T2N, R9E, SEC 6 DEWEY BEACH SUB LOTS 375 TO 378 INCL EXC W 50 FT OF EACH
Tax Annual Amount
3400
Legal Description
T2N, R9E, SEC 6 DEWEY BEACH SUB LOTS 375 TO 378 INCL EXC W 50 FT OF EACH
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Amenities
handicap-accessible ramp
restroom
Building Details
Year built
1944
Number of units
1
Listing Agency:
Casablanca Real Estate LLC
(734) 222-1010
Listed By:
Mark Krysiak · License #6501394175
(248) 982-3360
Added: Dec 19, 2025
Changed: Sep 7
Last Checked: Sep 8 at 3:06AM
MLS# 25062367
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This standalone storefront contains 1,120 square feet configured for barber-shop operations, with multiple cutting stations, a restroom, and a front entrance served by a handicap-accessible ramp. The property includes front and rear parking, updated flooring, new windows and mechanicals, bright lighting, forced-air heat, central air, broadband, and cable availability. Built in 1944, the building is suited to continued barber-shop use, salon operations, or another small service business supported by the existing layout.
The property is located on Cooley Lake Road in West Bloomfield, surrounded by retail, restaurants, and residential neighborhoods. Its 0.14-acre parcel provides a compact commercial setting with on-site parking and a customer-facing storefront configuration.
The property is located on Cooley Lake Road in West Bloomfield, surrounded by retail, restaurants, and residential neighborhoods. Its 0.14-acre parcel provides a compact commercial setting with on-site parking and a customer-facing storefront configuration.
Key Highlights
- 1,120‑square‑foot standalone storefront
- 0.14‑acre parcel on Cooley Lake Road
- Multiple cutting stations and restroom
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
$12,052
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
3.44%
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%
$241,040
$241.0K
Cap Rate 7%
$172,171
$172.2K
Cap Rate 9%
$133,911
$133.9K
Market Conditions
NOI Build-Up for 1,120 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
$18.8K $16.80/SF
− Vacancy
−$1.6K −$1.43/SF
EGI
$17.2K $15.37/SF
− OpEx
−$5.2K −$4.61/SF
NOI
$12.1K $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%
$241,040
Cap Rate 7%
$172,171
Cap Rate 9%
$133,911
Alternative Uses
Best Use
Retail
$172.2K
$150.7K – $200.9K
NOI $12,052 @ 7.0% cap · market cap 3.44%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$241.6K
$211.4K – $281.8K
NOI $16,910 @ 7.0% cap · market cap 4.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
196
Businesses Nearby
6k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Marathon Petroleum
Shops & Services
2,953 visits/mo
0.4 miles
BP
Shops & Services
2,716 visits/mo
0.1 miles
Demographics for 48324, MI
16,872
Population
6,637
Households
2.5
Avg Household Size
46
Median Age
57%
College-Educated
96%
High-School Grad
8.6 sq mi
ZIP Area
1,962
Density / Sq Mi
$148,750
Median Household Income
$64,277
Median Earnings
$1,448
Median Rent
$407,500
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Storefront property - Established service-business layout with accessible entry, front and rear parking, and updated building components.
Where is this storefront property located?
The property is located at 7045 Cooley Lake Road West Bloomfield, MI.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 1,120‑square‑foot standalone storefront; 0.14‑acre parcel on Cooley Lake Road; Multiple cutting stations and restroom
