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    6123 Highland Rd Waterford, MI 48327-1878
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    Property profile & analytics

    6123 Highland Rd Waterford, MI 48327-1878

    View on Map
    • Super regional malls
    • 93,347 SF
    • 5.26 lot acres
    Off-Market
    Property ID
    US43-0178938
    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
    $4,310,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Super regional malls

    Property Details for 6123 Highland Rd

    Year built
    2006
    Lot size
    5.26 lot acres
    Property size
    93,347 SF
    Zone code
    II
    Property type
    Super regional malls
    Property subtype
    Shopping centers
    APN
    W -13-20-276-071
    APU
    W1320276071

    Description

    This exceptional retail opportunity is located at 6123 Highland Road in Waterford Township, Michigan, 48327. The property features two contiguous inline spaces totaling 3,200 square feet, with 1,600 square feet currently available in each. Each space is in excellent, move-in ready condition, offering a "white-boxed" interior, ready for tenant build-out. The property boasts ample parking for customer convenience and high visibility due to its excellent frontage on Highland Road (M-59), a major thoroughfare. The strategic location offers easy access and high traffic volume, placing the property directly across from the Oakland County International Airport. This prime retail space is ideal for a variety of businesses seeking a high-traffic location with excellent visibility and ample parking. The property is classified as a shopping center with multiple tenancies. A total of 3,600 square feet is currently vacant, offering flexibility for businesses of various sizes. The property's well-maintained condition ensures a positive and productive environment for tenants. This is a rare opportunity to secure a highly visible and accessible retail space in a thriving Michigan community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,774,000
      Market price range: $5.22M - $13.0M
      AI Estimate
      $2,842,000
      Market price range: $2.19M - $6.63M

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

    Location Insight

    • Map
    • Local Demand
    City
    Waterford
    County
    Oakland
    State
    Michigan
    Longitude
    -83.4077
    Latitude
    42.6589
    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
    $95,205
    $0.00
    $0.00
    $2,751,060
    -
    $0.00
    $0.00
    $5,502,120

    Comparable in this City

    • Value Estimation
      $1,205,000
      17,318 SF

      7140 Cooley Lk Rd

      REGIONAL SHOPPING CENTER, MALL • 17,318 SF
      7140 Cooley Lk Rd, Waterford, MI 48327-4113
      View Details
    • Value Estimation
      $1,750,000
      26,034 SF

      6650 Highland Rd

      REGIONAL SHOPPING CENTER, MALL • 26,034 SF
      6650 Highland Rd, Waterford, MI 48327-1660
      View Details
    • Value Estimation
      $870,000
      12,510 SF

      7150 Cooley Lk Rd

      REGIONAL SHOPPING CENTER, MALL • 12,510 SF
      7150 Cooley Lk Rd, Waterford, MI 48327-4113
      View Details
    • Value Estimation
      $770,000
      14,820 SF

      5144 Highland Rd

      REGIONAL SHOPPING CENTER, MALL • 14,820 SF
      5144 Highland Rd, Waterford, MI 48327-1912
      View Details
    • Value Estimation
      $595,000
      7,010 SF

      6640 Cooley Lk Rd

      REGIONAL SHOPPING CENTER, MALL • 7,010 SF
      6640 Cooley Lk Rd, Waterford, MI 48327-4205
      View Details
    • Value Estimation
      $765,000
      10,070 SF

      6600 Cooley Lk Rd

      REGIONAL SHOPPING CENTER, MALL • 10,070 SF
      6600 Cooley Lk Rd, Waterford, MI 48327-4239
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      12,000 SF

      12,000 SF Retail Center For Sale

      Fully occupied retail center with high visibility on M-59.
      5302 Highland Rd, Waterford, MI 48327
      View Details
    • $4,500,000
      49,434 SF

      Renovated Commercial Building on Highland

      49,434 SF building on 7.5 acres, renovated in 2023.
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      View Details
    • $1,300,000

      Versatile Commercial Building on Cooley Lake

      Adaptable commercial asset in a thriving growth market.
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      View Details
    • $899,000

      Retail Building with High Visibility

      12,500 SF building with 9.5% cap rate and escalations.
      Waterford, Waterford, MI 48327
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,455 SF

      Retail Space in Waterford Plaza

      Retail space available in Waterford Plaza at M-59 & Crescent.
      5038 Highland Rd, Waterford, MI 48327
      View Details
    • $1,700 /Mo
      1,200 SF

      Retail Space in Lakeview Plaza

      1,200 SF retail suite available for lease in Waterford.
      5574 Cooley Lake Rd, Waterford, MI 48327
      View Details
    • Contact for pricing
      1,000 SF

      Redeveloped Retail Center Space

      Retail spaces available in a redeveloped shopping center.
      5733 Elizabeth Lake Rd, Waterford, MI 48327
      View Details
    • Contact for pricing

      Retail Space in Cooley Lake

      Well-positioned shopping center with high visibility and traffic.
      7710-7726 Cooley Lake Rd, Waterford, MI 48327
      View Details
    • $20 SF/Yr
      4,537 SF

      Waterford Twp Restaurant - 4,537 SF

      Prime Restaurant Space, 1.43 Acres
      5834 Highland Rd, Waterford Township, MI 48327
      View Details
    • Contact for pricing

      Retail and Office Spaces Available

      Retail and office spaces for rent, 840-2,330 SqFt.
      5790-5832 Highland Rd, Waterford, MI 48327
      View Details
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    Waterford, MI 48327-1878
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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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