Retail Space with Fenced
New
For Sale
$349,000
8111 Wiloray Drive, Shelby Twp, MI 48317
COM/IND/BUS OPP, Shelby Twp, MI
Property Size2,400 SF
Lot Size0.32 Acres
Price / SF$145.42
Days on Market4
Property Features for 8111 Wiloray Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Professional Office, Commercial
Exterior features
Fenced Yard
Fencing
Fenced
Subdivision
S/P Connors Maple Lane
Standard status
Active
APN
23-07-22-301-006
Size
2,400 SF
Lot size
0.32 Acres
Utilities
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1975
Listing Agency:
Pilot Property Group - Residential LLC
(586) 254-0900
Listed By:
Boyd C. Kraft
(586) 243-3488
Added: Oct 22
Last Checked: Oct 25 at 4:06PM
MLS# 50225694
Copyright © 2026 Multiple Listing Service MiRealSource. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This retail property includes 2,400 square feet of space on a 0.32-acre parcel. A fenced yard provides an outdoor area, while the building has central air conditioning and forced-air heat. Public water serves the property, which was built in 1975.
Located at 8111 Wiloray Drive in Shelby Township, Michigan, the property is identified as retail space.
Located at 8111 Wiloray Drive in Shelby Township, Michigan, the property is identified as retail space.
Key Highlights
- 2,400 square feet of retail space
- 0.32‑acre parcel
- Fenced yard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,741
Cap Rate
5.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$354,820
$354.8K
Cap Rate 7%
$253,443
$253.4K
Cap Rate 9%
$197,122
$197.1K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$28.8K $12.00/SF
− Vacancy
−$3.5K −$1.44/SF
EGI
$25.3K $10.56/SF
− OpEx
−$7.6K −$3.17/SF
NOI
$17.7K $7.39/SF
Area
Macomb County, MI
Vacancy
12.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$354,820
Cap Rate 7%
$253,443
Cap Rate 9%
$197,122
Alternative Uses
Best Use
Retail
$253.4K
$221.8K – $295.7K
NOI $17,741 @ 7.0% cap · market cap 5.08%
Second Best
Office B
$118.0K
$103.3K – $137.7K
NOI $8,262 @ 7.0% cap · market cap 2.37%
Theoretical Best
Specialty Retail
$449.3K
$393.2K – $524.2K
NOI $31,452 @ 7.0% cap · market cap 9.01%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
454
Businesses Nearby
Explore this area
Business Placement
Demographics for 48317, MI
27,864
Population
12,936
Households
2.2
Avg Household Size
39
Median Age
32%
College-Educated
90%
High-School Grad
12.0 sq mi
ZIP Area
2,322
Density / Sq Mi
$72,465
Median Household Income
$41,895
Median Earnings
$1,227
Median Rent
$248,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - Central air, forced-air heat, and a fenced outdoor area serve this commercial property.
Where is this retail space located?
The property is located at 8111 Wiloray Drive Shelby Twp, MI.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: 2,400 square feet of retail space; 0.32‑acre parcel; Fenced yard
