Freestanding Multifamily
For Sale
$500,000
721 S Main St, Clawson, MI 48017
Freestanding multifamily property with street visibility, on-site parking, and income-producing apartments.
Property Size2,979 SF
Lot Size0.28 Acres
Price / SF$167.84
Days on Market141
Property Features for 721 S Main St
General Information
Standard status
Active
Size
2,979 SF
Lot size
0.28 Acres
Property subtype
Retail
Zoning
BRD-1
Site & Location
Traffic Count
14,018 vehicles/day
Highway Access
Yes
Building Details
Building Size
2,979 SF
Listing Agency:
Landmark Commercial Real Estate Services
Listed By:
Anthony Vitale · License #6505422306
(248) 488-2620
Source:
Cpix.resimplifi
Added: Jun 3
Changed: Oct 2
Last Checked: Oct 20 at 5:11PM
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 Landmark Commercial Real Estate Services
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Investment Insights
Based on property information with market context.
This freestanding multifamily building offers a total of 2,979 square feet on a 0.28-acre lot measuring approximately 45 by 180 feet. The property includes apartments on the second floor and features on-site parking for residents and guests.
Located in Downtown Clawson at 721 S Main St, the building provides strong exposure along S Main Street, supported by a stated traffic count of 14,018 CPD. The site is zoned BRD-1 Business Renewal District. The location also provides quick access to I-75 throughout Metro Detroit.
For buyers seeking a mixed-use-style income asset, this property’s second-floor apartment setup and on-site parking can support a straightforward residential income profile within a business renewal zoning district. Its visibility along a primary street and convenient regional access may appeal to operators looking for a freestanding property in a downtown context.
Located in Downtown Clawson at 721 S Main St, the building provides strong exposure along S Main Street, supported by a stated traffic count of 14,018 CPD. The site is zoned BRD-1 Business Renewal District. The location also provides quick access to I-75 throughout Metro Detroit.
For buyers seeking a mixed-use-style income asset, this property’s second-floor apartment setup and on-site parking can support a straightforward residential income profile within a business renewal zoning district. Its visibility along a primary street and convenient regional access may appeal to operators looking for a freestanding property in a downtown context.
Key Highlights
- Freestanding 2,979 SF building on a 0.28‑acre lot (45' x 180') at 721 S Main St, Clawson, MI
- Zoned BRD‑1 Business Renewal District
- Traffic count of 14,018 CPD along S Main Street for strong street visibility
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,541
Cap Rate
7.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$730,820
$730.8K
Cap Rate 7%
$522,014
$522.0K
Cap Rate 9%
$406,011
$406.0K
Market Conditions
NOI Build-Up for 2,979 SF
Gross rent
$69.4K $23.28/SF
− Vacancy
−$2.9K −$0.98/SF
EGI
$66.4K $22.30/SF
− OpEx
−$29.9K −$10.04/SF
NOI
$36.5K $12.27/SF
Area
Oakland County, MI
Vacancy
4.20%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$730,820
Cap Rate 7%
$522,014
Cap Rate 9%
$406,011
Alternative Uses
Best Use
Apartment 5plus
$522.0K
$456.8K – $609.0K
NOI $36,541 @ 7.0% cap · market cap 7.31%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$642.5K
$562.2K – $749.6K
NOI $44,978 @ 7.0% cap · market cap 9.00%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
14,018 VPD
Traffic count
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
689
Businesses Nearby
Explore this area
Business Placement
Demographics for 48017, MI
11,353
Population
5,827
Households
1.9
Avg Household Size
39
Median Age
44%
College-Educated
97%
High-School Grad
2.2 sq mi
ZIP Area
5,160
Density / Sq Mi
$86,935
Median Household Income
$62,650
Median Earnings
$1,255
Median Rent
$251,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Multifamily property - Freestanding multifamily property with street visibility, on-site parking, and income-producing apartments.
Where is this multifamily property located?
The property is located at 721 S Main St Clawson, MI.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Freestanding 2,979 SF building on a 0.28‑acre lot (45' x 180') at 721 S Main St, Clawson, MI; Zoned BRD‑1 Business Renewal District; Traffic count of 14,018 CPD along S Main Street for strong street visibility
