Freestanding Multifamily
721 S Main St Clawson, MI 48017
721 S Main St, Clawson, MI, 48017
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For Sale
Contact for pricing
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 Market49
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
Listing agency
Landmark Commercial Real Estate Services
(248) 488-2620
Listed by
Anthony J. Vitale · License #6505422306
Source
Crexi
Added: Jun 3 Updated: Jul 10 at 1:49PM Checked: Jul 19 at 9:59AM
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
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $69.4k | $23.28 |
| − Vacancy | −$2.9k | −$0.98 |
| EGI | $66.4k | $22.30 |
| − OpEx | −$29.9k | −$10.04 |
| NOI | $36.5k | $12.27 |
2,979 SF · lease $23.28/SF/yr · vacancy 4.20% · expense 45.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Day Care Plus ...
Daycare Center
Similar For Sale Nearby
FAQs
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
