1156 W Huron St Waterford, MI 48328
Drug stores
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Entity Owned
3-yr Hold
Absentee Owner
Free & Clear
For Lease
1 / 9
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1156 W Huron St, Waterford, MI 48328
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Estimated value (blended)
$350k
Range $315k – $385k (±10%)
Property ID
US43-1501933
Property summary
AI-generated overview
This exceptional 10,922 square foot retail space is available for lease at 1156 W Huron St, Waterford, MI 48328. Located in Oakland County, this single-tenant building boasts a prime location with excellent visibility and accessibility. Built in 1995, the property features a single story design and ample parking with 58 spaces available. The building is zoned C-2 Small Business, offering a wide range of potential uses. The entire 10,922 square feet is currently vacant, presenting a unique opportunity for a business seeking a substantial and adaptable space. The property's address is 1156 W Huron St, with a cross street of Lynn. Its convenient location and substantial size make it an ideal space for a variety of retail businesses. The property's APN is 1325451035. This is a rare opportunity to secure a significant retail presence in a thriving Waterford community. The building's single-story design offers ease of access and efficient use of space. The ample parking ensures convenient access for customers and employees. The C-2 zoning provides flexibility for a range of business types. Don't miss this chance to establish your business in this highly visible and accessible location.
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
1995
Total area
10,733 SF
Lot
0.37 ac (16,117 SF)
Zoning code
BI
APN
W -13-25-451-035
UPID
US43-1501933
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.38M
Blend (final)
Blend
$350k
Owner & transaction history
since 2023
2 recorded transactions
Zoning & alternative use
BI · Waterford, MI
Top alternative use upside
Commercial (general)
$1.9M
+71.6%
Restaurant
$1.9M
+69.3%
Medical building
$1.7M
+54.4%
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
17% off on annual
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 6 comparables with addresses
7 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$350k
Value range
$315k – $385k
±10% around blend
Estimated value / SF
$33 / SF
Confidence
High
6 county-verified comps
Property data
88
Market benchmarks
67
Comparable evidence
60
Income certainty
100
$315k
blend $350k
$385k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
10,733 SF
Lot area
0.37 ac
Year built
1995
Stories
1
APN
W -13-25-451-035
Assessed value
$566,110
Annual tax
$21,907
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$21,907
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$1.04M
Weighted, 6 comps · high confidence
Evidence
6 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
13.9 mi away · 9,891 SF
15.0 mi away · 9,875 SF
15.3 mi away · 7,797 SF
16.8 mi away · 8,400 SF
23.3 mi away · 11,448 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$350k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 30 sales
$102
-68%
County 385 sales
$169
-81%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $33/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Commercial (general)
Gross theoretical uplift
+72%
vs current-use indication
Restaurant
Medical Building
Retail Stores · current use
Auto Repair, Garage
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Modeled
Market rent
Market benchmark
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 6 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Selected market yield
839,464.29%
Selected cap rate for this drug stores
Derived from the Waterford market rent, vacancy and expense benchmarks for this use type.
NOI (est.)
$118k *
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$13
Move the market yield to see immediate price impact.
Value / SF
$0
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
839,463.79%839,464.29%839,464.79%
$106k
$12
$12
$12
$118k
$14
$13
$13
$129k
$15
$15
$15
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
6 found
High confidence · county-verified
Closest comparable
$1.35M
2.3 mi · Sep 2025 · $162/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$21,907
Tax year 2023
Assessed value
$566,110
Assessed 2024
Previous assessed
$502,380
+12.7% YoY
Effective rate
3.87%
On assessed value
Total market value
$1,132,220
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Status
For Lease
Year built
1995
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
10,733 SF
Lot
0.37 ac (16,117 SF)
Zoning code
BI
APN
W -13-25-451-035
UPID
US43-1501933
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
BI · Waterford, MIZoning BI · permitted uses
BI · Waterford, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1995
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
0.37 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
BI
Jurisdiction
Waterford, MI
Recorded code
BI
Ownership Intelligence
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Owner identityResolved entity and name variants
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Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
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