For Sale
$4,800,000

5900 Highland Rd Waterford, MI 48327

49,434 SF Storefront, Owner/User Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
127
This exceptional 49,434-square-foot storefront property, located at 5900 Highland Rd, Waterford, MI 48327, is offered at $4,800,000. Built in 1993 and extensively renovated in 2023, this Class B retail building sits on approximately 7.5 acres and features a single story. Currently, the property has a 20% occupancy rate with a multi-tenant lease in place, expiring June 30, 2029, with a remaining term of 4.6 years. The lease commenced July 1, 2024, and includes a gross lease structure. The existing tenant occupies a portion of the building, and the lease is transferable to the new owner. The property's zoning is BI, making it suitable for a variety of retail uses. The front portion is ideal for retail sales or client services, with private offices available. The property is comprised of two parcels: 1316352020 (6.359 acres) and 1316352029 (.918 acres). The seller may consider a NNN lease instead of a fee simple sale. This presents a unique owner-user opportunity or an attractive investment prospect in a prime Oakland County location. The property is currently partially occupied, with an occupancy date of November 4, 2024. This is a single-building property with one tenant.

Highlights

  • $4,800,000 asking price for a 49,434 square foot retail storefront in Waterford, MI.
  • Class B, single-story building on ~7.5 acres, built in 1993 and fully renovated in 2023.
  • Currently 20% occupied with a gross lease in place until 6/30/2029, with two five-year renewal options.
  • Suitable for various retail uses, including automotive sales and service; includes private offices.
  • Zoned BI; Owner will consider a triple-net (NNN) lease instead of a sale.

Property Details for 5900 Highland Rd

Property type
Retail properties, Retail space
Square Feet
49,434 SF
Class
B
Year Built/Renovated
1993/2023
Buildings
1
Stories
1

Location Insight

City
Waterford
County
Oakland
State
Michigan
Latitude
42.66017799975
Longitude
-83.4043714283
5900 Highland Rd, Waterford, Michigan

FAQs

What type of property is this?
Retail property - 49,434 SF Storefront, Owner/User Opportunity
Where is the retail property located?
The property is located at 5900 Highland Rd Waterford, MI.
What is the asking price?
The asking price for this property is $4,800,000.
What are key features of this property?
This property features: $4,800,000 asking price for a 49,434 square foot retail storefront in Waterford, MI.; Class B, single-story building on ~7.5 acres, built in 1993 and fully renovated in 2023.; Currently 20% occupied with a gross lease in place until 6/30/2029, with two five-year renewal options.
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5900 Highland Rd
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