West Market Square Shopping Center

Off-Market

47950 Grand River Avenue, Novi, MI 48374

This property is off-market. Unlock in-depth property data and market insights by signing up to CommercialEdge.

  • Property Type Retail - Community Center
  • Property Size 197,568 SF
  • Lot Size 34.32 Acre
  • Property Tenancy Multi-Tenant
  • Year Built 2000

Contacts

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Owner

  • True Owner

Brokers

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Documents

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Sales

  • Purchase Price
  • Arm's Length True
  • Buyer Name

Mortgages

  • Current Lender
  • Loan Origination Date
  • Loan Maturity Date

Market Trends

Average Actual Rents in Novi

Average rents use actual signed leases, aggregated for your specific search area and asset type with Yardi Market Insight. Be confident your price is competitive, with CommercialEdge.

Current Average Rent
Net Rent
$44.3/SF/YR
Recoverables Show detailsHide details
$16.7/SF/YR
CAM
$3.54/SF/YR
Insurance
$0.59/SF/YR
Taxes
$9.52/SF/YR
Utilities
$1.76/SF/YR
Management Fees
$1.3/SF/YR
Total Rent
$61/SF/YR
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Occupancy & Leasing Activity
Occupancy
83.5%
Lease Spread
-20.5%
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Asking Rents in Novi Office Market

Office rental rates are based on aggregated data of asking rates.

  • 2022 Avg. Asking Rent $29.74
  • 2022 Office Vacancy Rate 16.74%
  • 2022 Office Completions (SF)
View more Novi market trends

Location

Getting Around

  • Walk Score ®

    26/100 Car-Dependent
  • Bike Score ®

    40/100 Somewhat Bikeable
Powered by Walk Score ®
  • City Novi, MI
  • Neighborhood Novi
  • Zip Code 48374
  • Market Detroit

Points of Interest

  • Shell

    0.33 miles

  • Mobil

    0.73 miles

  • Sam's Club

    0.73 miles

  • Valero

    0.81 miles

  • Exxon

    0.84 miles

  • Shell

    0.97 miles

  • Meijer

    0.98 miles

  • Marathon

    1.22 miles

  • Speedway

    2.19 miles

  • Kroger

    2.20 miles

  • MDOT Public Carpool Parking

    0.39 miles

  • Lakeshore Park Skills Area Parking Lot

    2.06 miles

  • MTB Tralhead Parking

    2.16 miles

  • ShearWater Trailhead Parking Lot for M.A.L.T.

    2.86 miles

  • Wixom Habitat Parking

    3.24 miles

  • North Parking Lot

    3.27 miles

  • Michigan Air Line Trailhead Parking Lot

    3.83 miles

  • MDOT Park and Ride

    5.30 miles

  • Trailhead

    5.64 miles

  • MDOT Carpool Lot

    5.72 miles

  • The Grand Diner

    0.50 miles

  • Tropical Smoothie Cafe

    0.58 miles

  • Taco Bell

    0.74 miles

  • Dunkin' Donuts

    0.75 miles

  • McDonald's

    0.82 miles

  • Burger King

    0.82 miles

  • KFC

    0.90 miles

  • Red Olive Family Restaurants

    0.90 miles

  • Arby's

    0.93 miles

  • Culver's

    0.94 miles

  • Kroger

    0.15 miles

  • Target

    0.75 miles

  • ALDI

    1.08 miles

  • Meijer

    1.10 miles

  • Twelve Mile Crossing at Fountain Walk

    1.86 miles

  • Sears Outlet

    1.93 miles

  • Gordon Food Service

    1.94 miles

  • Kohl's

    2.02 miles

  • West Oaks II

    2.08 miles

  • Rent-a-Center

    2.08 miles

Frequently Asked Questions

What is the total square footage of West Market Square Shopping Center?

West Market Square Shopping Center totals 197,568 square feet.

When was this property built?

West Market Square Shopping Center was built in 2000.

What is the market value for West Market Square Shopping Center?

The market value* for West Market Square Shopping Center in 2023 was $14,576,980.

*This represents the market value determined by the appropriate local tax/financial authority, and not the latest sale price or current market value based on recent sales.

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