Retail Building and Residential
For Sale
Contact for pricing
8960 Sashabaw Rd City of the Village of, Clarkston, MI 48348
Retail building with residential lot for sale in Clarkston.
Property Size2,241 SF
Price / SF$245.43
Days on Market902
Property Features for 8960 Sashabaw Rd City of the Village of
General Information
Standard status
Active
Size
2,241 SF
Property subtype
Retail
Zoning
C-1
Listing Agency:
NAI Farbman Southfield
(248) 351-4384
Listed By:
Daniel McCleary · License #MI 6502113479
Source:
Crexi
Added: Feb 19, 2024
Changed: Aug 8
Last Checked: May 12 at 10:01PM
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 NAI Farbman Southfield
Investment Insights
Based on property information with market context.
A 2,241 square foot retail building and residential lot are available for sale in Clarkston, Michigan.
Key Highlights
- Retail building and residential lot included in sale.
- Building square footage: 2,241 SF.
- Property located in Clarkston, MI.
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
$24,114
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
4.38%
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%
$482,280
$482.3K
Cap Rate 7%
$344,486
$344.5K
Cap Rate 9%
$267,933
$267.9K
Market Conditions
NOI Build-Up for 2,241 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
$37.6K $16.80/SF
− Vacancy
−$3.2K −$1.43/SF
EGI
$34.4K $15.37/SF
− OpEx
−$10.3K −$4.61/SF
NOI
$24.1K $10.76/SF
Area
Oakland County, MI
Vacancy
8.50%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
30.00%
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%
$482,280
Cap Rate 7%
$344,486
Cap Rate 9%
$267,933
Alternative Uses
Best Use
Retail
$344.5K
$301.4K – $401.9K
NOI $24,114 @ 7.0% cap · market cap 4.38%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$483.4K
$423.0K – $563.9K
NOI $33,836 @ 7.0% cap · market cap 6.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
29
Businesses Nearby
Explore this area
Business Placement
Demographics for 48348, MI
25,655
Population
9,151
Households
2.8
Avg Household Size
42
Median Age
50%
College-Educated
96%
High-School Grad
33.6 sq mi
ZIP Area
764
Density / Sq Mi
$131,586
Median Household Income
$59,251
Median Earnings
$1,231
Median Rent
$421,300
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Retail building with residential lot for sale in Clarkston.
Where is this retail space located?
The property is located at 8960 Sashabaw Rd City of the Village of Clarkston, MI.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Retail building and residential lot included in sale.; Building square footage: 2,241 SF.; Property located in Clarkston, MI.
