3273 Huron St Waterford, MI 48328-3638
Entity Owned
1-yr Hold
~
Est. High Equity
Estimated value (blended)
$765k
Range $689k – $842k (±10%)
Property ID
US43-3745207
Property summary
AI-generated overview
This exceptional 12,228-square-foot retail property, formerly a Rite Aid, presents a remarkable investment opportunity. Situated on a prominent 4-acre lot at the hard corner of West Huron Street (M-59) and Elizabeth Lake Road in Waterford, Michigan, this location boasts exceptional visibility and accessibility. Built in 2007, the single-unit building is zoned C-4, offering considerable flexibility for a variety of uses. The property's prime location makes it ideal for a wide range of retail businesses, including fast food restaurants, car washes, and other high-traffic ventures. The substantial lot size provides ample space for expansion or additional development. This property is available for both sale and lease, providing options to suit diverse investment strategies. The address is 3273 W Huron St, Waterford, MI 48328, within Oakland County. This is a rare opportunity to acquire a well-located, sizable retail space in a thriving Michigan community. The property's history as a successful pharmacy demonstrates its strong potential for continued success under new ownership or tenancy. Serious inquiries are encouraged to explore this compelling investment prospect.
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2007
Total area
11,119 SF
Lot
4 ac (174,240 SF)
Zoning code
BI
APN
W -13-26-401-040
UPID
US43-3745207
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
$1.82M
Blend (final)
Blend
$765k
Owner & transaction history
since 2024
4 recorded transactions
Zoning & alternative use
BI · Waterford, MI
Top alternative use upside
Commercial (general)
$2.0M
+71.6%
Restaurant
$1.9M
+69.3%
Medical building
$1.8M
+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.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 6 comparables with addresses
4 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
$765k
Value range
$689k – $842k
±10% around blend
Estimated value / SF
$69 / SF
Confidence
High
6 county-verified comps
Property data
88
Market benchmarks
67
Comparable evidence
60
$689k
blend $765k
$842k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
11,119 SF
Lot area
4 ac
Year built
2007
Stories
1
APN
W -13-26-401-040
Assessed value
$759,770
Annual tax
$32,221
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
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
13.1 mi away · 9,891 SF
15.8 mi away · 9,875 SF
16.1 mi away · 7,797 SF
17.4 mi away · 8,400 SF
24.2 mi away · 11,448 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$765k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 30 sales
$102
-33%
County 385 sales
$169
-59%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $69/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
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
Not available
Market rent
Not available
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
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$760k
Move the market yield to see immediate price impact.
Value / SF
$68
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
5.00%7.00%9.00%
$48k
$957k
$684k
$532k
$53k
$1.06M
$760k
$591k
$59k
$1.17M
$836k
$650k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
6 found
High confidence · county-verified
Closest comparable
$1.35M
2.9 mi · Sep 2025 · $162/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$32,221
Tax year 2023
Assessed value
$759,770
Assessed 2024
Previous assessed
$759,770
+0.0% YoY
Effective rate
4.24%
On assessed value
Total market value
$1,519,540
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
Off-Market
Year built
2007
Heating
YES
Stories
1
Units
1
Total area
11,119 SF
Lot
4 ac (174,240 SF)
Zoning code
BI
APN
W -13-26-401-040
UPID
US43-3745207
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
2007
Heating
YES
Stories
1
Units
1
Lot
4 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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Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
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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