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    1156 Huron St Waterford, MI 48328

    Sponsored
    For Sale
    $1,748,400

    Vacant CVS, strong leasehold, high cap rate.

    Property size:
    10,922 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a 10,922 square foot, single-tenant, free-standing retail building situated on a 1.11-acre lot in Waterford, Michigan. The property, built in 1995 and zoned C2 - Small Business, boasts a prominent location on W Huron Street, experiencing high traffic counts exceeding 18,000 vehicles daily. Currently vacant, the property benefits from a remaining lease term of approximately 2.4 years (expiring March 31, 2027), offering an attractive absolute NNN net lease structure with no landlord responsibilities. The asking price is $1,748,400, representing a compelling cap rate of 9.80% and a price per square foot of $160.08. The property's strong location is further enhanced by its proximity to a new 75,000 square foot DTE Customer Service Center employing 200 workers, and a dense population base of over 161,000 residents within a 5-mile radius. The lease includes four five-year renewal options. This property offers a unique dual opportunity: collect the remaining rent until lease expiration or immediately occupy the space after lease termination. The property can be delivered free and clear of the lease. The Net Operating Income (NOI) is $171,342. The lease commenced on March 13, 1997.

    Property Features for 1156 Huron St

    General Information

    Property type
    Individual retail properties
    Square Feet
    10,922 SF
    Lot Size
    48,352 SF

    Building Details

    Year Built
    1995
    Buildings
    1

    HighLights

    • 10,922 SF single‑tenant freestanding retail building on a 1.11‑acre lot in Waterford, MI.
    • Vacant building with lease expiring March 2027; opportunity to collect remaining rent or immediately occupy.
    • Absolute NNN lease; no landlord responsibilities.
    • Dense demographics: 161,000+ residents within 5 miles; high traffic counts (18,000+ vehicles daily) on W. Huron St.
    • Located near a new 75,000 SF DTE Customer Service Center.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Waterford
    County
    Oakland
    State
    Michigan
    Longitude
    -83.335145667181
    Latitude
    42.635178934961

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    FAQs

    What type of property is this?
    Individual retail property - Vacant CVS, strong leasehold, high cap rate.
    Where is this individual retail property located?
    The property is located at 1156 Huron St Waterford, MI.
    What is the asking price?
    The asking price for this property is $1,748,400.
    What are key features of this property?
    This property features: 10,922 SF single-tenant freestanding retail building on a 1.11-acre lot in Waterford, MI.; Vacant building with lease expiring March 2027; opportunity to collect remaining rent or immediately occupy.; Absolute NNN lease; no landlord responsibilities.
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    Waterford, MI 48328
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    Realmo Value Estimation

    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.

    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.

    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
    1156 Huron St Waterford, MI 48328
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