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

    23111 W Outer Dr Allen Park, MI 48101

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

    Retail space available at Independence Marketplace in Allen Park.

    Property Features for 23111 W Outer Dr

    General Information

    Standard status
    Active

    We can help!

    Listing Contact
    Brad Rosenberg
    Source: Crexi

    Listing Agency: Mid-America Real Estate - Michigan, Inc. Listing Agent: Brad Rosenberg

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

    Learn more

    Overview

    Retail Space in Allen Park

    Independence Marketplace is a retail center located at the intersection of Southfield Freeway (M-39) and Outer Drive in Allen Park, Michigan. The property benefits from direct access and visibility from both Southfield Freeway and Outer Drive. It is positioned adjacent to approximately 700,000 square feet of retail space at Fairlane Green, establishing it as a significant retail hub within the trade area. Anchor tenants at the center include Lowe’s, Guitar Center, Boot Barn, Petco, DSW, and Aldi.
    Location Intelligence

    Current Use by Public Records

    Independence Marketplace Shopping Center & Mall Lowe's Garden Center Garden Center Lowe's ProServices Building Supply Lowe's Home Improvement Building Supply Minute Key Locksmith

    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.

    Similar Places Nearby

    Independence Marketplace, Fairlane Green

    Location Insight

    • Map
    • Local Demand
    City
    Allen Park
    County
    Wayne
    State
    Michigan
    Longitude
    -83.214994
    Latitude
    42.277749

    Nearby Similar for Lease

    • $2,500 /Mo
      4,453 SF

      Allen Park Medical Building Available

      Renovated medical building with a unit available for lease.
      19100 Goddard Rd, Allen Park, MI 48101
      View Details
    • $2,500 /Mo
      4,453 SF

      Medical Building Unit For Rent

      Renovated medical building unit with reception and exam rooms.
      19100 Goddard Rd, Allen Park, MI 48101
      View Details
    • $1,100 /Mo
      2,632 SF

      Updated Office Suite For Rent

      New office suite with open space and private bathroom.
      19306 Ecorse Rd, Allen Park, MI 48101
      View Details
    • Contact for pricing

      Retail Center Near Ford HQ

      Retail center with restaurant pad site near Ford World HQ.
      16630 Southfield Rd, Allen Park, MI 48101
      View Details
    • New
      Contact for pricing

      Drive-Thru Restaurant Space Available

      605 SF drive-thru in Allen Park, Michigan.
      16006 Southfield Rd, Allen Park, MI 48101
      View Details
    • Contact for pricing
      5,750 SF

      Retail Space in Fairlane Green

      Retail space available in a premier Metro Detroit shopping center.
      3310 Fairlane Dr, Allen Park, MI 48101
      View Details
    • Contact for pricing

      Retail Space Inside Meijer

      Prime retail opportunity within high-traffic Meijer stores in the Midwest.
      3565 Fairlane Dr, Allen Park, MI 48101
      View Details
    • Contact for pricing
      4,650 SF

      Retail Space in Allen Park

      Retail space available in premier Metro Detroit shopping center.
      3424 Fairlane Dr, Allen Park, MI 48101
      View Details
    • $24 SF/Yr

      Office Building on Southfield Road

      Office suites available for medical or general use.
      14551 Southfield Rd, Allen Park, MI 48101
      View Details
    • Contact for pricing

      Allen Park Medical Office Space

      Turn-key medical office space available for lease.
      8338 Allen Rd, Allen Park, MI 48101
      View Details
    • Contact for pricing

      Allen Park Retail/Office Space

      Retail and office spaces available for lease in Allen Park.
      5236 Allen Rd, Allen Park, MI 48101
      View Details
    • Contact for pricing

      Retail Space in Allen Park

      5,500 SF retail space with ample parking.
      19040 Ecorse Rd, Allen Park, MI 48101
      View Details

    FAQs

    What type of property is this?
    Shopping center - Retail space available at Independence Marketplace in Allen Park.
    Where is this shopping center located?
    The property is located at 23111 W Outer Dr Allen Park, MI.
    What are key features of this property?
    This property features: - Located at the intersection of Southfield Freeway (M-39) and Outer Drive, providing excellent access and visibility.; - Anchored by major retailers: Lowe’s, Guitar Center, Boot Barn, Petco, DSW, and Aldi.; - Adjacent to Fairlane Green, a 700,000 SF retail hub, creating a major retail destination.
    Request Owner's contact information
    23111 W Outer Dr Allen Park, MI 48101
    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.
    23111 W Outer Dr
    Allen Park, MI 48101
    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
    23111 W Outer Dr Allen Park, MI 48101
    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

    We can help!
    Listing Contact
    Brad Rosenberg
    Real Estate License ID: 6501204147
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!