Property profile

1026 Main St Royal Oak, MI 48067

OFF-MARKET
Commercial real estate
Property ID
US43-0867032
11,520 SF 0.87 ac lot Built 1988
Entity Owned 13-yr Hold Absentee Owner ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional 11,564-square-foot retail space is ideally situated at 1026 N Main Street in Royal Oak, Oakland County, Michigan. The property boasts a highly visible corner location at the southeast intersection of Main Street and Gardenia Avenue, ensuring excellent exposure to a substantial customer base. Built in 1989, this single-tenant building sits on a 0.75-acre lot and is zoned BI, offering flexibility for a variety of retail uses. The property includes ample parking with 44 spaces available for customers and employees. The building itself is well-maintained and presents a fantastic opportunity for a business seeking a prominent location in a thriving area. With a total of 11,564 square feet currently vacant, this space is ready for immediate occupancy. The strong demographics of the area, with a population exceeding 342,000 within a five-mile radius, provide a significant potential customer pool. This property presents a unique opportunity for ground lease or redevelopment, making it an attractive investment for long-term growth. The property's prime location and substantial size make it an exceptional opportunity for a business seeking high visibility and a strong presence in the Royal Oak submarket.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1988
Total area 11,520 SF
Lot 0.87 ac (37,941 SF)
Zoning code NBHD BUS
APN 72-25-15-151-002
UPID US43-0867032

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Atm
  • Pharmacy
  • Pharmacy
  • Physician
  • Grocery & Convenience Store

Location

1026 Main St Royal Oak, MI 48067-1317
Royal Oak metro Census 183900 DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$2.25M
Blend (final) Blend
$1.46M

Owner & transaction history

since 2012
3 recorded transactions
2012
$1.5M
1969
Price N/A
1969
Price N/A

Zoning & alternative use

NBHD BUS · Royal Oak, MI

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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