Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    8023 W Grand River Ave Brighton, MI 48114

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Well-maintained retail space in a high-traffic Brighton location.

    Type:Retail
    Added:
    Sep 9, 2022
    Days on Market:
    1307
    Last Refresh:
    Mar 17 at 1:18 pm

    Property Features for 8023 W Grand River Ave

    General Information

    Standard status
    Active
    Property subtype
    Retail

    Building Details

    Year Built
    1987

    We can help!

    Listing Contact
    Brigs Lulaj

    Listing agent Brigs Lulaj License #MI 6501448878

    Listing office KW Commercial

    Listing date Sep 9, 2022

    Source Crexi

    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 KW Commercial

    Overview

    Prominent Strip Center in Brighton

    This well-maintained strip center is situated in a prominent location within Brighton, specifically at the intersection of Grand River and Hacker Road. This location benefits from its position on two main traffic arteries, offering optimal visibility and accessibility. The property is ideally positioned to serve a retail customer base residing west of Hilton Road, south of M-59, and east of Door Road.
    Location Intelligence

    Current Use by Public Records

    Strip malls

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Brighton
    County
    Livingston
    State
    Michigan
    Longitude
    -83.785734
    Latitude
    42.544123

    Nearby Similar for Lease

    • Contact for pricing

      Updated Office Space Near Main

      Updated office space near Main Street with private parking.
      315 W North Street, Brighton, MI 48116
      View Details
    • Contact for pricing

      Brighton, MI Office Space

      Office space in a thriving business hub with modern amenities.
      7743 GRAND RIVER Road, Brighton, MI 48114
      View Details
    • Contact for pricing

      Brighton Office Space For Rent

      Office space available across from Trinity Health Hospital in Brighton.
      2500-2548 Harte Dr. | Brighton, MI 48114, MI 48114
      View Details
    • $12/mo

      Brighton Flex/Warehouse Space Available

      Flex/warehouse space in Eagle Business Center with freeway access.
      10421 Citation Dr, Brighton, MI
      View Details
    • $10/mo

      Industrial Units Near I-96

      Industrial units available from 5,250-17,500 SF with I-96 access.
      8192, 8194, 8196, 8198 Boardwalk Rd, Brighton, MI 48116
      View Details
    • Contact for pricing

      Retail Center with Strong Frontage

      Multi-tenant retail center in Brighton, minutes from I-96.
      2900 Old US Hwy 23, Brighton, MI 48114
      View Details
    • $18/mo

      Retail Center Near Medical Campus

      Retail spaces available in high-visibility location near Genoa Medical Center.
      2300 Genoa Business Park Drive, Brighton, MI
      View Details
    • Contact for pricing

      6,080 SF Flex Building

      Flex building with office/showroom, premier frontage, and centralized location.
      9901 East Grand River Avenue, Brighton, MI 48116
      View Details
    • $16/mo

      Brighton Office Building For Sale

      Office building with vacant floors available in Brighton, MI.
      10559 Citation Dr, Brighton, MI
      View Details
    • Contact for pricing

      Brighton Office Space Available

      Office space available for lease in Brighton, Michigan.
      7600 Grand River Avenue, Brighton, MI, 48114
      View Details
    • $8/mo

      Brighton Warehouse Space for Lease

      Warehouse space available for lease in Kensington Pines Industrial Park.
      7600-7800 Kensington Ct. | Brighton, MI 48116, MI 48116
      View Details
    • Contact for pricing

      Brighton Commercial Building For Rent

      Two-story commercial building available for rent in Brighton, Michigan.
      703 E Grand River, Brighton, MI 48116
      View Details

    FAQs

    What type of property is this?
    Strip mall - Well-maintained retail space in a high-traffic Brighton location.
    Where is this strip mall located?
    The property is located at 8023 W Grand River Ave Brighton, MI.
    What are key features of this property?
    This property features: Prominent location at the intersection of Grand River and Hacker Road; High‑traffic corridor in Brighton; Caters to a large retail customer base west of Hilton Road, south of M‑59, and east of Door Road
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Brigs Lulaj
    Real Estate License ID: MI 6501448878
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!