Freestanding Multifamily
For Sale
Contact for pricing
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 Market95
Property Features for 721 S Main St
General Information
Standard status
Active
Size
2,979 SF
Lot size
0.28 Acres
Property subtype
Retail, Multifamily
Zoning
BRD-1 Business Renewal District
Investment Type
Owner/User
Site & Location
Traffic Count
14,018 vehicles/day
Highway Access
Yes
Building Details
Tenancy
Single
Listing Agency:
Landmark Commercial Real Estate Services
Listed By:
Anthony J. Vitale · License #6505422306
(248) 488-2620
Source:
Crexi
Added: Jun 3
Changed: Aug 31
Last Checked: Sep 4 at 10:18PM
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
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 = 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
$36,541
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
7.31%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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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
