5983 Highland Rd Waterford, MI 48327-1868
- Drug stores
- 14,496 SF
- 2.20 lot acres
Current Use by Public Records
- Drug stores
Property Details for 5983 Highland Rd
- Year built
- 2008
- Lot size
- 2.20 lot acres
- Property size
- 14,496 SF
- Zone code
- BI
- Property type
- Drug stores
- APN
- W -13-21-101-023
- APU
- W1321101023
Description
This exceptional retail property presents a unique investment opportunity in the thriving Waterford, Michigan market. The former Rite Aid building, boasting 14,564 square feet, sits on a generous 2.20-acre lot. Its strategic location at a signalized intersection of Highland Road and Airport Road ensures maximum visibility and accessibility, benefiting from a combined daily traffic count of 61,922 vehicles. This high-traffic area guarantees significant exposure for any business. The property is surrounded by a robust retail environment, with established national brands such as Meijer, Walmart, Kroger, Aldi, Starbucks, and Panera Bread in close proximity, creating a synergistic and desirable retail cluster. The strong demographics further enhance the property's appeal, with a population of 53,153 residents within a 3-mile radius, providing a substantial customer base. This former pharmacy offers ample space and a proven track record, making it an ideal location for a variety of retail ventures. The property's size and location in Oakland County, Michigan, combined with the high traffic counts and established retail neighbors, make this a compelling opportunity for investors and businesses seeking a prominent presence in a busy and successful retail corridor. The 48327 zip code offers easy access to major transportation routes, further enhancing its appeal.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $6,045,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $5,945,000
- 6.5%
- $6,135,000
- 7%
- $5,780,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $5,450,000
- Geo Method
- $6,800,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $5,575,000
- Retail
- $5,265,000
- Mixed-Use
- $5,385,000
- Hospitality
- $4,975,000
- Educational
- $5,785,000
- Residential Income
- $5,315,000
- Energy
- $5,880,000
- Income-Based Land
- $4,750,000
- Food Service
- $5,190,000
Location Insight
- Map
- Local Demand
- City
- Waterford
- County
- Oakland
- State
- Michigan
- Longitude
- -83.4052
- Latitude
- 42.6592
- CBSA code
- 19820
- CBSA name
- DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
