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    7362 Highland Rd Waterford, MI 48327
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    7362 Highland Rd Waterford, MI 48327

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    • Drug stores
    • 2,010 SF
    • 0.53 lot acres
    For Lease
    View Listing →
    Retail Space with Leasing Incentives For Lease
    Contact for pricing

    Retail Space with Leasing Incentives

    Retail space available with leasing incentives and pylon signage.

    7362 Highland Rd, Waterford, MI 48327
    View Listing
    Property ID
    US43-1669365
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Drug stores

    Property Details for 7362 Highland Rd

    Year built
    2002
    Lot size
    0.53 lot acres
    Property size
    2,010 SF
    Zone code
    BI
    Property type
    Drug stores
    APN
    W -13-18-401-008
    APU
    W1318401008

    Description

    M-59 Plaza, located at 7362 Highland Rd in Waterford Township, Michigan 48327, presents a fantastic opportunity for retail or restaurant businesses. This multi-tenant commercial property boasts a total of 20,000 square feet, with 8,000 square feet currently available for lease. The property offers excellent visibility and accessibility, situated on a major thoroughfare. Current tenants include established businesses such as Dollar Tree, Genisys Credit Union, and Michigan Works!, creating a strong and diverse tenant mix. The available space is highly adaptable, ranging from 3,400 to 8,000 square feet, allowing for flexibility in tenant needs. This prime location offers significant foot traffic and high visibility, making it an ideal space for businesses seeking to establish or expand their presence in the Waterford Township market. Attractive leasing incentives and pylon sign advertisement opportunities are available to enhance tenant visibility and marketing efforts. This is a rare opportunity to join a thriving retail center in a desirable location. Contact us today to learn more about leasing options and to schedule a viewing.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Waterford
    County
    Oakland
    State
    Michigan
    Longitude
    -83.4332
    Latitude
    42.6614
    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
    $2,770
    $0.00
    $0.00
    $131,600
    -
    $0.00
    $0.00
    $263,200

    Comparable in this City

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      $1,860,000
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      7960 Cooley Lk Rd

      DRUG STORE, PHARMACY • 12,937 SF
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    • Value Estimation
      $4,120,000
      14,496 SF

      5983 Highland Rd

      DRUG STORE, PHARMACY • 14,496 SF
      5983 Highland Rd, Waterford, MI 48327-1868
      View Details
    • Value Estimation by Request
      3,050 SF

      6381 Elizabeth Lk Rd

      GROCERY, SUPERMARKET • 3,050 SF
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    • Value Estimation by Request
      6,686 SF

      6377 Elizabeth Lk Rd

      RETAIL STORES (PERSONAL SERVICES) • 6,686 SF
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      View Details
    • Value Estimation
      $4,850,000
      2,315 SF

      5990 Highland Rd

      GROCERY, SUPERMARKET • 2,315 SF
      5990 Highland Rd, Waterford, MI 48327-1829
      View Details
    • Value Estimation
      $675,000
      2,257 SF

      7000 Cooley Lk Rd

      GROCERY, SUPERMARKET • 2,257 SF
      7000 Cooley Lk Rd, Waterford, MI 48327-4111
      View Details

    Similar Nearby for Sale

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      Retail, Office, Medical Space Available

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      Retail and Office Spaces Available

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    7362 Highland Rd
    Waterford, MI 48327
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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.

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