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    35103 Grand River Ave Farmington, MI 48335

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    For Lease
    Contact for pricing

    Grand River Ave. Shopping Center - 6 Spaces Available

    Lot size:
    10,000 SF

    Property Features for 35103 Grand River Ave

    General Information

    Property type
    Lifestyle centers
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    10,000 SF
    Class
    B

    Building Details

    Year Built/Renovated
    1998/2013
    Buildings
    3
    Stories
    1

    Spaces For Lease

    at 35103 Grand River Ave, Farmington, MI 48335 Contact us
    Unit Space 35233

    $16 /Mo

    Size
    1,600 SF
    Contact us
    Unit Space 35159

    $16 /Mo

    Size
    1,400 SF
    Contact us
    Unit Space 35163

    $16 /Mo

    Size
    1,400 SF
    Contact us
    Unit Space 35107

    $16 /Mo

    Size
    1,200 SF
    Contact us
    Unit Space 35227

    $16 /Mo

    Size
    2,800 SF
    Contact us
    Unit Space 35167

    $16 /Mo

    Size
    1,600 SF
    Contact us
    Show more

    We can help!

    Listing Contact
    Mark Lusky
    Mark Lusky

    Listing Agency: Winston-Traitel Realty Listing Agent: Mark Lusky

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

    Learn more

    Property Insight Report

    Overview

    Drakeshire Plaza, a well-maintained Class B shopping center, presents a prime retail investment opportunity on Grand River Avenue in Oakland County. This established center boasts three single-story buildings, totaling multiple spaces available for lease, ranging from 1,200 to 2,800 square feet. Built in 1998 and extensively renovated in 2013, the property benefits from a high-traffic location at the intersection of Grand River Avenue and Drake Road, experiencing a daily traffic count of 20,300 vehicles. The zoning is COMMERCIAL, ensuring flexibility for a variety of retail and restaurant uses. The property's multiple tenancy structure provides a diverse tenant mix, contributing to a stable and attractive investment. This is an excellent chance to secure space in a well-established center with significant foot traffic and visibility in a thriving commercial area. The property's recent renovations ensure modern amenities and a visually appealing environment for tenants and customers alike. The convenient location and established presence make this an ideal opportunity for businesses seeking high visibility and accessibility. Interested parties should inquire about available space and lease terms.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Hungry Howie's Pizza Take-out & Catering

    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.

    Location Insight

    • Map
    • Local Demand
    City
    Farmington
    County
    Oakland
    State
    Michigan
    Longitude
    -83.393969
    Latitude
    42.468604

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    FAQs

    What type of property is this?
    Lifestyle center - Grand River Ave. Shopping Center - 6 Spaces Available
    Where is this lifestyle center located?
    The property is located at 35103 Grand River Ave Farmington, MI.
    What is the lease rate?
    The lease rate is $16 SF/Yr.
    What are key features of this property?
    This property features: Retail/Restaurant Shopping Center in Oakland County.; Multiple tenancy, Class B property.; Three one-story buildings totaling approximately 1,200 - 2,800 sq. ft. per space, six spaces available.
    (248) 624-7200 Call to check price and availability
    Request Owner's contact information
    35103 Grand River Ave Farmington, MI 48335
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    Farmington, MI 48335
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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
    35103 Grand River Ave Farmington, MI 48335
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Mark Lusky
    Mark Lusky
    (248) 624-7200
    Learn more
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