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    965 Midland Rd Auburn, MI 48611

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    For Lease
    Contact for pricing

    Prime Auburn, MI Retail Opportunity

    Lot size:
    5,198 SF

    Property Features for 965 Midland Rd

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    5,198 SF
    Class
    A
    Total Rate
    5631.17

    Building Details

    Year Built
    1900

    Spaces For Lease

    at 965 Midland Rd, Auburn, MI 48611 Contact us
    Unit 965

    $13 /Mo

    Size
    1,560 SF
    Contact us

    We can help!

    Listing Contact
    Trent Szkutnik
    Trent Szkutnik

    Listing Agency: Legacy Commercial Group Listing Agent: Trent Szkutnik

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Auburn Plaza Shopping Center presents a unique opportunity for retail, restaurant, office, or medical tenants. This Class A property, located at 965 W Midland Rd, Auburn, MI 48611, boasts 5,198 total square feet across eight suites within a 6-acre parcel. Currently, 1,560 square feet of retail space is available for lease, with a minimum divisible space of 1,200 square feet. The building, constructed in 1900 and zoned 201 Commercial (APN: 09-150-023-300-070-02), benefits from ample off-street parking. The property's location in the heart of Auburn offers excellent visibility and accessibility. Previous tenants have enjoyed significant success in this location. The space is ready for occupancy commencing January 2024. This is an ideal opportunity for businesses seeking a well-established location with high foot traffic in a thriving community. The property's multiple suite configuration offers flexibility for various business needs. Don't miss this chance to secure your space in this desirable Auburn shopping center.
    Property Profile Location Intelligence

    Current Use by Public Records

    Purple Palette Art Studio Duo Studio Hair Salon

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Auburn
    County
    Bay
    State
    Michigan
    Longitude
    -84.0879808
    Latitude
    43.60271

    Nearby Similar for Lease

    • Contact for pricing
      1,560 SF

      Retail Space in Auburn Plaza

      1,560 SF retail suite available January 2024.
      985 W Midland Rd, Auburn, MI 48611
      View Details

    FAQs

    What type of property is this?
    Restaurant - Prime Auburn, MI Retail Opportunity
    Where is this restaurant located?
    The property is located at 965 Midland Rd Auburn, MI.
    What is the lease rate?
    The lease rate is $13 SF/Yr.
    What are key features of this property?
    This property features: Two suites available, ideal for retail or medical office use; each includes two private bathrooms and a rear storage room/private office.; High-traffic location at Garfield & W Midland Rd intersection, boasting over 14,000 vehicles per day and multiple access points.; Strong anchor tenants: Rogers Family Foods and United States Postal Service.
    Request Owner's contact information
    965 Midland Rd Auburn, MI 48611
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    Auburn, MI 48611
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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
    965 Midland Rd Auburn, MI 48611
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Trent Szkutnik
    Trent Szkutnik
    Real Estate License ID: 6501431808
    Learn more
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