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    1413 Rochester Rd Rochester, MI 48307

    Sponsored
    For Lease
    $38 SF/Yr

    High-traffic retail spaces available.

    Lot size:
    12,917 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    407
    North Hill Shopping Center, located at 1413 N Rochester Rd, Rochester, MI 48307, presents a prime retail leasing opportunity. This Class A, three-building shopping center and new outlot development offers seven available spaces ranging from 1,200 to 2,750 square feet. The property boasts unparalleled visibility and accessibility, situated at a signalized intersection in a high-traffic area of Oakland County. Anchored by a soon-to-open Meijer, the center benefits from a strong presence of affluent residents and a steady flow of visitors. The well-maintained property features professionally landscaped surroundings and ample parking with 639 surface spaces. Its versatile spaces are suitable for a variety of businesses seeking a dynamic and high-traffic location. Less than a mile from Downtown Rochester Hills, this location provides easy access and high visibility within a thriving commercial corridor featuring national and local retailers. This exceptional opportunity allows businesses to tap into a robust consumer base and establish their brand in a coveted location.

    Property Features for 1413 Rochester Rd

    General Information

    Property type
    Lifestyle centers
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    12,917 SF
    Class
    A

    Building Details

    Buildings
    3

    Unit(s) available at that property

    Space
    A4
    Size
    1,528 SF
    Rate per SF
    $38
    Space
    Next to Dollar Tree
    Size
    2,750 SF
    Rate per SF
    $38
    Space
    A6
    Size
    2,263 SF
    Rate per SF
    $38
    Space
    A2
    Size
    2,130 SF
    Rate per SF
    $38
    Space
    A3
    Size
    1,534 SF
    Rate per SF
    $38
    Space
    A5
    Size
    1,512 SF
    Rate per SF
    $38
    Space
    Next to Kendal & Co
    Size
    1,200 SF

    We can help!

    Listing Contact
    Jason Orow
    Jason Orow

    Learn more

    HighLights

    • Newly developed outlot with seven available spaces ranging from 1,200 to 2,750 square feet.
    • Ample parking with 639 surface spaces.
    • Anchored by a soon‑to‑open Meijer.
    • Located at a signalized intersection in a high‑traffic area.
    • Less than a mile from Downtown Rochester Hills.
    Property Profile Location Intelligence

    Current Use by Public Records

    Mezza Mediterranean Grille Mediterranean Restaurant

    Suggested Use

    Law Firm Restaurant Spa & Massage Dental Office Hair Salon Realty agency Nail Salon Clothing Store Building Supply Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Rochester
    County
    Oakland
    State
    Michigan
    Longitude
    -83.134609378916
    Latitude
    42.694042528598

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    FAQs

    What type of property is this?
    Lifestyle center - High-traffic retail spaces available.
    Where is this lifestyle center located?
    The property is located at 1413 Rochester Rd Rochester, MI.
    What is the lease rate?
    The lease rate is $0.00-$38 SF/Yr.
    What are key features of this property?
    This property features: Newly developed outlot with seven available spaces ranging from 1,200 to 2,750 square feet.; Ample parking with 639 surface spaces.; Anchored by a soon-to-open Meijer.
    Request Owner's contact information
    1413 Rochester Rd Rochester, MI 48307
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    Rochester, MI 48307
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    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
    1413 Rochester Rd Rochester, MI 48307
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    We can help!
    Listing Contact
    Jason Orow
    Jason Orow
    Real Estate License ID: 6501379713
    Learn more
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