Multi-Tenant Strip
938 N Pontiac Trail Walled Lake, MI 48390
938 N Pontiac Trail, Walled Lake, MI, 48390
$1,500,000
For Sale
$1,500,000
Well-maintained strip center with ample parking and a current lease in place to Hungry Howie’s Pizza.
Property Size8,691 SF
Price / SF$172.59
Days on Market155
Property Features for 938 N Pontiac Trail
General Information
- Standard status
- Active
- Size
- 8,691 SF
- Property subtype
- Retail
Listing agency
Thomas A. Duke Company
(248) 567-8007
Listed by
Mark T. Schafer · License #6501271064
(248) 567-8007
Source
Cpix.resimplifi
Added: Feb 18 Updated: Jul 23 at 12:53AM Checked: Jul 23 at 2:45AM
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 well-maintained multi-tenant strip center is offered for sale and includes ample parking to support everyday customer access. The property is currently leased, with Hungry Howie’s Pizza included within the center.
The center is situated along a commercial corridor described as high traffic, with strong visibility for storefront exposure.
Also included in the strip center is a well-known, successful owner-operated business; the remarks note that this business is not included in the center’s sale price and can be purchased separately, creating an option for buyers seeking both real estate and business ownership.
The center is situated along a commercial corridor described as high traffic, with strong visibility for storefront exposure.
Also included in the strip center is a well-known, successful owner-operated business; the remarks note that this business is not included in the center’s sale price and can be purchased separately, creating an option for buyers seeking both real estate and business ownership.
Key Highlights
- Well‑maintained multi‑tenant strip center on a high‑traffic commercial corridor
- Lease in place with Hungry Howie’s Pizza
- Ample on‑site parking
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $146.0k | $16.80 |
| − Vacancy | −$12.4k | −$1.43 |
| EGI | $133.6k | $15.37 |
| − OpEx | −$40.1k | −$4.61 |
| NOI | $93.5k | $10.76 |
8,691 SF · lease $16.80/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.34M
$1.17M – $1.56M
NOI $93,519 @ 7.0% cap · market cap 6.23%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.87M
$1.64M – $2.19M
NOI $131,220 @ 7.0% cap · market cap 8.75%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
NAPA Auto Parts ...
Auto Parts Store
Similar For Sale Nearby
Similar Off Market Nearby
- Maple Plaza — 1192 E West Maple Rd, Walled Lake, MI 48390
FAQs
What type of property is this?
Shopping center - Well-maintained strip center with ample parking and a current lease in place to Hungry Howie’s Pizza.
Where is this shopping center located?
The property is located at 938 N Pontiac Trail Walled Lake, 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: Well‑maintained multi‑tenant strip center on a high‑traffic commercial corridor; Lease in place with Hungry Howie’s Pizza; Ample on‑site parking
