Four-Unit Waterfront Retail
9861 DIXIE HIWY Clarkston, MI 48348
9861 DIXIE HIWY, Clarkston, MI, 48348
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For Sale
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Four retail units feature separate entrances and extensive recent interior reconstruction, plus over 300 feet of waterfront.
Property Size10,407 SF
Price / SF$124.92
Days on Market132
Property Features for 9861 DIXIE HIWY
General Information
- Standard status
- Active
- Size
- 10,407 SF
- Property subtype
- Special Purpose
Building Details
- Year Built
- 1981
Listing agency
Keller Williams Premier
Listed by
Darlene Goodwin · License #327839
Source
Crexi
Added: Mar 13 Updated: Jul 22 at 1:52AM Checked: Jul 22 at 1:52AM
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 Keller Williams Premier
Investment Insights
Based on property information with market context.
This four-unit retail property has been transformed into an upscale, separately entered retail enterprise, with interior reconstruction and new finishes throughout. The remodel includes a new roof and updated plumbing and electrical (220/440v), along with multiple heating systems (two furnaces and seven high-efficiency wall units) and a water heater. Interior improvements reported include new custom flooring, ceilings, walls, recessed lighting, windows, and doors, plus exterior and interior paint. The property also includes extensive concrete work and perimeter fencing, and it is described as having 16-camera security infrastructure with nine cameras installed. Additional features noted are three overhead doors and a custom kitchen with granite finishes, dual sinks, custom cabinetry, and stainless-steel Whirlpool appliances, along with lavatory and office finishes for unit A.
The property is situated on All Sports Dixie Lake with over 300 feet of waterfront and includes a seawall and dock. Lake access is noted as adding operational flexibility for the next user or tenant.
The property is situated on All Sports Dixie Lake with over 300 feet of waterfront and includes a seawall and dock. Lake access is noted as adding operational flexibility for the next user or tenant.
Key Highlights
- 10,000+ SF four‑unit upscale retail building built in 1981 with separate entrances for each unit
- Over 300 ft of waterfront on All‑Sports Dixie Lake, plus a seawall and dock
- Extensive remodel with new roof, plumbing, and electrical service (220/440V)
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 | $174.8k | $16.80 |
| − Vacancy | −$14.9k | −$1.43 |
| EGI | $160.0k | $15.37 |
| − OpEx | −$48.0k | −$4.61 |
| NOI | $112.0k | $10.76 |
10,407 SF · lease $16.80/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.60M
$1.40M – $1.87M
NOI $111,983 @ 7.0% cap · market cap 8.61%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.24M
$1.96M – $2.62M
NOI $157,129 @ 7.0% cap · market cap 12.09%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Iron Raven Metalworks
Metal Fabrication Plant
Similar For Sale Nearby
FAQs
What type of property is this?
Strip mall - Four retail units feature separate entrances and extensive recent interior reconstruction, plus over 300 feet of waterfront.
Where is this strip mall located?
The property is located at 9861 DIXIE HIWY Clarkston, MI.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 10,000+ SF four‑unit upscale retail building built in 1981 with separate entrances for each unit; Over 300 ft of waterfront on All‑Sports Dixie Lake, plus a seawall and dock; Extensive remodel with new roof, plumbing, and electrical service (220/440V)
