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    2060 Dixie Hwy, Unit 100 Waterford, MI 48328-1874
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    Property profile & analytics

    2060 Dixie Hwy, Unit 100 Waterford, MI 48328-1874

    View on Map
    • Grocery and convenience stores
    • 15,822 SF
    • 2.80 lot acres
    Off-Market
    Last Sale Apr 23, 2021
    Property ID
    US43-0427610
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $1,560,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Grocery and convenience stores

    Property Details for 2060 Dixie Hwy

    Year built
    1996
    Lot size
    2.80 lot acres
    Property size
    15,822 SF
    Zone code
    BI
    Property type
    Grocery and convenience stores
    APN
    W -13-13-426-023
    APU
    W1313426023

    Description

    This exceptional 2-acre commercial land parcel presents a unique build-to-suit opportunity in the thriving Waterford Township, Michigan market. Located at the hard corner of Dixie Highway and Telegraph Road, this property boasts an unparalleled location within an extensive business district. The site offers 320 feet of frontage on Telegraph Road and 310 feet on Dixie Highway, ensuring maximum visibility and accessibility. With over 60,000 vehicles passing daily, this signalized intersection guarantees high traffic volume. The C-4 zoning allows for a wide range of commercial development options. The property is ideally suited for retail development, with five adjacent units available for lease, ranging from 2,000 to 10,000 square feet, providing potential for synergistic business ventures. Existing curb cuts on both Telegraph Road and Dixie Highway simplify access and development. The asking price is $1,400,000. Facade upgrades are possible, enhancing the aesthetic appeal and potential return on investment. This prime location and flexible development potential make this an exceptional investment opportunity. The property's address is 2060 Dixie Highway, Waterford Township, MI 48328, situated in Oakland County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,560,000
      Market price range: $1.08M - $2.59M
      AI Estimate
      $1,560,000
      Market price range: $1.08M - $2.68M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,615,000
      Current use
      MEDICAL BUILDING
      $2,500,000
      Change: +54% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $1,530,000
      Change: -5% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $1,475,000
      Change: -9% Conversion: Moderate
      OFFICE BUILDING
      $1,380,000
      Change: -15% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Waterford
    County
    Oakland
    State
    Michigan
    Longitude
    -83.3287
    Latitude
    42.6664
    CBSA code
    19820
    CBSA name
    DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $30,457
    $0.00
    $0.00
    $640,690
    -
    $0.00
    $0.00
    $1,281,380

    Comparable in this City

    • Value Estimation
      $3,370,000
      38,438 SF

      1104 Huron St

      GROCERY, SUPERMARKET • 38,438 SF
      1104 Huron St, Waterford, MI 48328-3734
      View Details
    • Value Estimation by Request
      2,550 SF

      1795 Scott Lk Rd

      GROCERY, SUPERMARKET • 2,550 SF
      1795 Scott Lk Rd, Waterford, MI 48328-1653
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    • Value Estimation by Request
      3,024 SF

      990 Cass Lk Rd

      GROCERY, SUPERMARKET • 3,024 SF
      990 Cass Lk Rd, Waterford, MI 48328-4121
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    • Value Estimation by Request
      3,050 SF

      2685 Elizabeth Lk Rd

      GROCERY, SUPERMARKET • 3,050 SF
      2685 Elizabeth Lk Rd, Waterford, MI 48328-3211
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    • Value Estimation
      $665,000
      2,194 SF

      3480 Elizabeth Lk Rd

      GROCERY, SUPERMARKET • 2,194 SF
      3480 Elizabeth Lk Rd, Waterford, MI 48328-3008
      View Details
    • Value Estimation
      $515,000
      3,628 SF

      2510 Dixie Hwy

      GROCERY, SUPERMARKET • 3,628 SF
      2510 Dixie Hwy, Waterford, MI 48328-1704
      View Details

    Similar Nearby for Sale

    • $120,000
      3,628 SF

      Asian Grocery & Restaurant Opportunity

      Turnkey Asian grocery and restaurant in prime Waterford location.
      2510 Dixie Hwy, Waterford, MI 48328
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    • Contact for pricing
      6,500 SF

      Waterford Retail/Restaurant Redevelopment Opportunity

      6,500 SF building on 3.38 acres, prime Telegraph Road location.
      513 N Telegraph Rd, Waterford, MI 48328
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    • $450,000
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      Bar and Restaurant with License

      Bar and restaurant with liquor license on 0.71 acres.
      2661 Dixie Hwy, Waterford, MI 48328
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    • $649,000
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      Commercial Building on Corner Lot

      Four-unit commercial building with high visibility and income potential.
      1362 Huron St, Waterford, MI 48328
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    • $640,000
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      Unique Commercial Space with Garage

      Renovated commercial space with garage, ideal for office or service.
      2580 Dixie Hwy, Waterford, MI 48328
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    • Contact for pricing

      Pad Ready Sites For Sale

      Four pad-ready commercial sites at a prominent corner location.
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    Similar Nearby for Lease

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      1,452 SF

      Summit Mall Retail Space Available

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      25,454 SF

      Summit Mall Retail Space Available

      Retail spaces available in Summit Mall Development District.
      225-279 Summit Dr, Waterford, MI 48328
      View Details
    • Contact for pricing
      2,976 SF

      Versatile Retail/Medical/Office Space Available

      2,976 SF space suitable for retail, medical, or office use.
      1187 W Huron St, Waterford, MI 48328
      View Details
    • Contact for pricing
      110,000 SF

      Summit Drive Retail Opportunity

      110,000 SF retail space with ample parking.
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    • $6,500 /Mo
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      Waterford Commercial Space For Lease

      13,000 sq ft commercial space ideal for various businesses.
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      View Details
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    Waterford, MI 48328-1874
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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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