Freestanding Retail Building on Grand
For Sale
$525,000
56875 Grand River, New Hudson, MI 48165
Retail building with frontage on Grand River available for sale.
Property Size1,972 SF
Price / SF$266.23
Days on Market196
Property Features for 56875 Grand River
General Information
Standard status
Active
Size
1,972 SF
Property subtype
Retail
Building Details
Building Size
1,972 SF
Year Built
1925
Listing Agency:
Thomas A. Duke Company
Listed By:
Mark Szerlag · License #6502342846
(248) 476-3700
Source:
Thomasduke
Added: Mar 26
Changed: Oct 1
Last Checked: Oct 5 at 4:42PM
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 Thomas A. Duke Company
Investment Insights
Based on property information with market context.
This is a freestanding retail building with frontage on Grand River. The property offers a total size of 1972 square feet.
Key Highlights
- Freestanding retail building
- Grand River frontage
- Retail building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,220
Cap Rate
4.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$424,400
$424.4K
Cap Rate 7%
$303,143
$303.1K
Cap Rate 9%
$235,778
$235.8K
Market Conditions
NOI Build-Up for 1,972 SF
Gross rent
$33.1K $16.80/SF
− Vacancy
−$2.8K −$1.43/SF
EGI
$30.3K $15.37/SF
− OpEx
−$9.1K −$4.61/SF
NOI
$21.2K $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 Rate 5%
$424,400
Cap Rate 7%
$303,143
Cap Rate 9%
$235,778
Alternative Uses
Best Use
Retail
$303.1K
$265.3K – $353.7K
NOI $21,220 @ 7.0% cap · market cap 4.04%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$425.3K
$372.2K – $496.2K
NOI $29,774 @ 7.0% cap · market cap 5.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
336
Businesses Nearby
205k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 36%
Dining 24%
Shops & Services 18%
Home Improvements & Furnishings 17%
Walmart
Superstores
73,137 visits/mo
0.3 miles
Lowe's
Home Improvements & Furnishings
23,541 visits/mo
0.4 miles
Mobil
Shops & Services
16,760 visits/mo
0.3 miles
Arby's
Dining
10,979 visits/mo
0.3 miles
Starbucks
Dining
10,937 visits/mo
0.4 miles
Demographics for 48165, MI
8,832
Population
3,587
Households
2.5
Avg Household Size
37
Median Age
51%
College-Educated
95%
High-School Grad
9.9 sq mi
ZIP Area
892
Density / Sq Mi
$105,511
Median Household Income
$59,609
Median Earnings
$1,583
Median Rent
$352,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail building with frontage on Grand River available for sale.
Where is this retail space located?
The property is located at 56875 Grand River New Hudson, MI.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Freestanding retail building; Grand River frontage; Retail building
