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

    23500 Allen Rd Woodhaven, MI 48183

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

    Prime 4,200 SF retail space in thriving center.

    Lot size:
    4,200 SF

    Property Features for 23500 Allen Rd

    General Information

    Property type
    Retail properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    4,200 SF

    Spaces For Lease

    at 23500 Allen Rd, Woodhaven, MI 48183 Contact us
    Unit

    $16 /Mo

    Size
    4,200 SF
    Contact us

    We can help!

    Listing Contact
    Kathleen Garmo
    Kathleen Garmo

    Listing Agent: Kathleen Garmo

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

    Learn more

    Overview

    This exceptional 4,200 square foot end cap retail space is available for lease in the bustling Woodhaven Village Square shopping center, located at 23500 Allen Rd, Woodhaven, MI 48183, within Wayne County. The property offers unparalleled visibility and accessibility, situated within a high-traffic power center anchored by a strong lineup of national retailers. These established co-tenants include Home Depot, Walmart, Office Depot, PetSmart, Michaels, and Five Below, ensuring consistent customer flow and brand synergy. The single-tenancy space presents a unique opportunity for businesses seeking a prominent location in a well-established and highly visible retail environment. The property's strategic placement within this successful shopping center guarantees exposure to a large and diverse customer base. This end-cap location provides excellent visibility and ample parking for customers. The space is ideal for a variety of retail uses, offering a significant opportunity for growth and success. Interested parties should inquire for lease terms and conditions.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Woodhaven
    County
    Wayne
    State
    Michigan
    Longitude
    -83.229061543167
    Latitude
    42.136922017806

    Nearby Similar for Lease

    • $12,000 /Mo

      Industrial Building with Fenced Yard

      Move-in ready industrial building with fenced yard near I-75.
      26401 Hall Rd, Woodhaven, MI 48183
      View Details
    • Contact for pricing
      10,953 SF

      Office Building in Business District

      10,953 SF office building in a busy district.
      22601 Allen Rd, Woodhaven, MI
      View Details
    • Contact for pricing
      1,210 SF

      Retail Space in West Allen

      Retail space available in a busy Woodhaven shopping center.
      19555 Rd West, Woodhaven, MI
      View Details
    • Contact for pricing

      Woodhaven Commercial Property for Lease

      Commercial property available for rent in Woodhaven, Michigan.
      22051-22169 Rd West, Woodhaven, MI 48183
      View Details
    • Contact for pricing

      Woodhaven Commercial Property For Lease

      Commercial property available for lease in Woodhaven, Michigan.
      22051-22169 Rd West, Woodhaven, MI 48183
      View Details
    • $15 SF/Yr
      8,000 SF

      Executive Office Suites in Woodhaven

      Modern Office Space, Multiple Suites Available
      22673 Allen Rd, Woodhaven, MI 48183
      View Details
    • Contact for pricing
      10,953 SF

      Executive Office Space Woodhaven, MI

      Modern Office Suites Available Now
      22601 Allen Rd, Woodhaven, MI 48183
      View Details
    • $35 SF/Yr
      12,000 SF

      Shoppes of Woodhaven Medical Office Space

      Prime Medical Office Space in Woodhaven, MI. Large footprint available.
      21595 Allen Rd, Woodhaven, MI 48183
      View Details

    FAQs

    What type of property is this?
    Retail property - Prime 4,200 SF retail space in thriving center.
    Where is this retail property located?
    The property is located at 23500 Allen Rd Woodhaven, MI.
    What is the lease rate?
    The lease rate is $16 SF/Yr.
    What are key features of this property?
    This property features: 4,200 SF endcap retail space available for lease in a Home Depot & Walmart-anchored center at Allen & West Road.; Strong tenant mix including Home Depot, Walmart, Office Depot, PetSmart, Michaels, and Five Below.; Excellent location with nearby CVS, Planet Fitness, Ashley Furniture, Target, and Meijer.
    (248) 406-1761 Call to check price and availability
    Request Owner's contact information
    23500 Allen Rd Woodhaven, MI 48183
    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.
    23500 Allen Rd
    Woodhaven, MI 48183
    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
    23500 Allen Rd Woodhaven, MI 48183
    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!
    Contact for Pricing
    Please call us for current price
    and status of this listing Kathleen Garmo
    Kathleen Garmo
    (248) 406-1761
    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!