Retail Space on Grand
For Sale
Contact for pricing
30924 Grand River Ave, Farmington, MI 48336
Retail space available for sale on Grand River Avenue.
Property Size4,624 SF
Price / SF$324.39
Days on Market703
Property Features for 30924 Grand River Ave
General Information
Standard status
Active
Size
4,624 SF
Property subtype
Retail
Building Details
Year Built
1955
Buildings
1
Stories
1
Units
5
Listing Agency:
Signature Associates
Listed By:
Marvin Petrous · License #6501386692
(248) 359-0647
Source:
Crexi
Added: Nov 2, 2024
Changed: Oct 1
Last Checked: Oct 5 at 7:23PM
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 Signature Associates
Investment Insights
Based on property information with market context.
A 4,624 square foot retail space is available for sale. The property is located on Grand River Avenue in Farmington, Michigan.
Key Highlights
- Established neighborhood (built in 1955)
- Property is for sale
- Property is for sale
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,756
Cap Rate
3.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$995,120
$995.1K
Cap Rate 7%
$710,800
$710.8K
Cap Rate 9%
$552,844
$552.8K
Market Conditions
NOI Build-Up for 4,624 SF
Gross rent
$77.7K $16.80/SF
− Vacancy
−$6.6K −$1.43/SF
EGI
$71.1K $15.37/SF
− OpEx
−$21.3K −$4.61/SF
NOI
$49.8K $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%
$995,120
Cap Rate 7%
$710,800
Cap Rate 9%
$552,844
Alternative Uses
Best Use
Retail
$710.8K
$622.0K – $829.3K
NOI $49,756 @ 7.0% cap · market cap 3.32%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$997.4K
$872.7K – $1.16M
NOI $69,815 @ 7.0% cap · market cap 4.65%
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
482
Businesses Nearby
Explore this area
Business Placement
Demographics for 48336, MI
26,802
Population
12,296
Households
2.2
Avg Household Size
42
Median Age
44%
College-Educated
92%
High-School Grad
9.3 sq mi
ZIP Area
2,882
Density / Sq Mi
$85,325
Median Household Income
$54,077
Median Earnings
$1,141
Median Rent
$247,600
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
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Frequently Asked Questions
What type of property is this?
Retail space - Retail space available for sale on Grand River Avenue.
Where is this retail space located?
The property is located at 30924 Grand River Ave Farmington, MI.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Established neighborhood (built in 1955); Property is for sale; Property is for sale
