Retail Properties in Farmington Hills offer a unique investment opportunity, with the city's strong economy and high quality of life making it an attractive location for businesses and residents alike. Retail Properties can represent a variety of investments, from small strip malls to large shopping centers, and can provide a steady stream of income through rental properties. Farmington Hills' amenities, infrastructure, location, education, and geography make it an ideal place to invest in a Retail Property. For example, the city is home to Oakland Community College and Wayne State University, and has a diverse economy with major companies such as Nissan, Hitachi Automotive Systems Americas, Inc., and Panasonic Automotive Systems. The city's location, approximately 22 miles from downtown Detroit, also makes it an attractive location for businesses and residents. Additionally, Farmington Hills is known for being one of the safest cities in the United States, with a population of around 83,986 residents, making it an attractive location for families and businesses.
Farmington Hills is home to 10 Retail Properties for sale, with an average price per square foot of $227 USD and an average size of 6,476 square feet. The largest Retail Property available is 14,210 square feet. In addition to Retail Properties, Farmington Hills also offers Shopping Centers, Restaurants, Office Properties, and Hotels for sale. Shopping Centers in Farmington Hills offer a variety of retail spaces, from small boutiques to large anchor stores. Restaurants in the city offer a range of dining options, from casual eateries to fine dining establishments. Office Properties in Farmington Hills provide a range of spaces for businesses, from small startups to large corporations. Hotels in the city offer a range of accommodations for visitors, from budget-friendly options to luxury hotels. Overall, Farmington Hills offers a range of investment opportunities, with its strong economy, high quality of life, and diverse range of properties making it an attractive location for businesses and residents alike.
What is the average cap rate for retail properties in Farmington Hills?
When it comes to retail properties in Farmington Hills, investors can expect an average cap rate of 6.2%, which is a key metric to consider when evaluating the potential return on investment. For those new to commercial real estate investing, it's essential to understand what a cap rate is and how it's calculated, which is why we recommend checking out our article on what is a cap rate to get a better grasp of this important concept.
How do location and foot traffic affect retail property values?
In Farmington Hills, a city with a population of around 84,000 residents, the location and foot traffic of retail properties significantly impact their values. For instance, retail properties situated near major thoroughfares like M-5, Orchard Lake Road, and 12 Mile Road, which connect to interstates I-696 and I-275, tend to have higher values due to increased visibility and accessibility, attracting more customers and businesses, such as Nissan, Hitachi Automotive Systems Americas, Inc., and Panasonic Automotive Systems.
