Freestanding Building on 1.11
For Sale
Contact for pricing
1156 W Huron St, Waterford, MI 48328
10,922 SF building on 1.11 acres available for sale.
Property Size10,922 SF
Lot Size1.11 Acres
Price / SF$116.74
Days on Market668
Property Features for 1156 W Huron St
General Information
Standard status
Active
Size
10,922 SF
Lot size
1.11 Acres
Property subtype
Mixed Use, Office, Retail, Self Storage
Zoning
C2 - Small Business
Investment Type
Net Lease
Building Details
Year Built
1995
Buildings
1
Listing Agency:
Encore Real Estate Investment Services
(248) 702-0289
Listed By:
Deno Bistolarides · License #6502378067
Source:
Crexi
Added: Oct 22, 2024
Changed: Aug 18
Last Checked: Aug 20 at 12:04PM
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 Encore Real Estate Investment Services
Investment Insights
Based on property information with market context.
The property features a 10,922-square-foot freestanding building situated on a 1.11-acre lot. This commercial real estate is suitable for mixed-use, office, retail, self-storage, and industrial purposes.
Key Highlights
- Freestanding building
- 10,922 SF building size
- 1.11 acre lot size
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$110,585
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.67%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,211,700
$2.2M
Cap Rate 7%
$1,579,786
$1.6M
Cap Rate 9%
$1,228,722
$1.2M
Market Conditions
NOI Build-Up for 10,922 SF
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.
Gross rent
$196.6K $18.00/SF
− Vacancy
−$19.7K −$1.80/SF
EGI
$176.9K $16.20/SF
− OpEx
−$66.4K −$6.07/SF
NOI
$110.6K $10.13/SF
Area
Oakland County, MI
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,211,700
Cap Rate 7%
$1,579,786
Cap Rate 9%
$1,228,722
Alternative Uses
Best Use
Retail
$1.68M
$1.47M – $1.96M
NOI $117,525 @ 7.0% cap · market cap 9.22%
Second Best
Mixed Use
$1.58M
$1.38M – $1.84M
NOI $110,585 @ 7.0% cap · market cap 8.67%
Theoretical Best
Specialty Retail
$2.36M
$2.06M – $2.75M
NOI $164,905 @ 7.0% cap · market cap 12.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
502
Businesses Nearby
Explore this area
Business Placement
Demographics for 48328, MI
24,178
Population
11,938
Households
2
Avg Household Size
43
Median Age
27%
College-Educated
93%
High-School Grad
8.9 sq mi
ZIP Area
2,717
Density / Sq Mi
$69,788
Median Household Income
$42,084
Median Earnings
$1,041
Median Rent
$210,800
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - 10,922 SF building on 1.11 acres available for sale.
Where is this mixed-use property located?
The property is located at 1156 W Huron St Waterford, MI.
What is the asking price?
The asking price for this property is $1,275,000.
What are key features of this property?
This property features: Freestanding building; 10,922 SF building size; 1.11 acre lot size
