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    15191-15231 Holly Rd Holly, MI 48442
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    15191-15231 Holly Rd Holly, MI 48442

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    • Neighborhood centers
    • 90,146 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Neighborhood centers

    Property Details for 15191-15231 Holly Rd

    Year built
    1966
    Property size
    90,146 SF
    Property type
    Neighborhood centers
    Property subtype
    Retail properties & Spaces

    Description

    Holly Plaza, located at 15191-15231 North Holly Rd in Holly, Michigan 48442, presents a significant retail investment opportunity. This 90,146 square foot strip center, built in 1966, offers abundant parking and currently has 45,341 square feet of vacant space available for lease. The property is ideally suited for a variety of retail uses, with flexible space options ranging from a minimum of 2,323 square feet to a maximum contiguous space of 14,509 square feet. Its location in Oakland County provides excellent access to a thriving consumer base. The property's substantial size and ample parking make it an attractive option for businesses seeking high visibility and convenient customer access. The existing infrastructure is well-maintained, providing a solid foundation for new tenants. This is a rare opportunity to secure prime retail space in a desirable location with significant potential for growth and profitability. The property's multiple tenancy allows for diverse business combinations, creating a vibrant and attractive shopping destination. Interested parties are encouraged to explore the possibilities offered by this exceptional retail center. The property is situated at 42.8085809 latitude and -83.6267785 longitude.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Holly
    County
    Oakland
    State
    Michigan
    Longitude
    -83.6268
    Latitude
    42.8086

    Comparable in this City

    • Value Estimation by Request
      1,256 SF

      10451 Holly Rd

      Retail properties & Spaces • 1,256 SF
      10451 Holly Rd, Holly, MI 48442
      View Details
    • Value Estimation
      $3,920,000
      92,658 SF

      15191 Holly Rd

      REGIONAL SHOPPING CENTER, MALL • 92,658 SF
      15191 Holly Rd, Holly, MI 48442-1140
      View Details
    • Value Estimation
      $1,065,000
      15,000 SF

      15146 Holly Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 15,000 SF
      15146 Holly Rd, Holly, MI 48442-1139
      View Details
    • Value Estimation
      $735,000
      12,814 SF

      15217 Apollo Dr

      REGIONAL SHOPPING CENTER, MALL • 12,814 SF
      15217 Apollo Dr, Holly, MI 48442-1167
      View Details
    • Value Estimation
      $1,045,000
      19,225 SF

      3045 Grange Hall Rd

      REGIONAL SHOPPING CENTER, MALL • 19,225 SF
      3045 Grange Hall Rd, Holly, MI 48442-1020
      View Details
    • Value Estimation by Request
      7,391 SF

      1016 Saginaw St

      REGIONAL SHOPPING CENTER, MALL • 7,391 SF
      1016 Saginaw St, Holly, MI 48442-1379
      View Details

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      Industrial Property With New Lease

      Industrial property featuring a new five-year lease with Consumers Energy.
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      Land For Sale

      Land available for sale.
      7220 Perryville Rd, Holly, MI 48442
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    Similar Nearby for Lease

    • Contact for pricing
      4,500 SF

      Retail Space in Busy Center

      Retail spaces available in a busy Holly shopping center.
      15191 N Holly Rd, Holly, MI 48442
      View Details
    • Contact for pricing

      Retail Space in Holly Plaza

      Retail spaces available in busy Holly shopping center.
      15191-15231 North Holly Rd, Holly, MI 48442
      View Details
    • $3,500 /Mo
      3,288 SF

      Office Space on Dixie Highway

      3,288 SF office space for lease in Holly, Michigan.
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      View Details
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    Holly, MI 48442
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    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
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