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West Market Square Shopping Center

Off-Market

47950 Grand River Avenue, Novi, MI 48374

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

Location

  • Walk Score ® Car-Dependent (37)
  • Bike Score ® Somewhat Bikeable (40)
Powered by Walk Score ®
  • City Novi, MI
  • Neighborhood Novi
  • Zip Code 48374
  • Market Detroit

Points of Interest

Meijer

0.98 miles

BP

2.32 miles

Marathon

4.24 miles

Shell

7.08 miles

2 stations

7.53 miles

Shell

7.56 miles

Speedway

7.68 miles

Speedway

8.23 miles

BP

9.02 miles

Mobil

9.34 miles

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

2.86 miles

North Parking Lot

3.27 miles

Lot 8

7.41 miles

Public Parking

7.58 miles

Lot 5

7.76 miles

Lot 2

7.89 miles

Lot 1C

7.96 miles

Public Car Pool Parking

8.67 miles

Parking Lot - Central Convent

9.28 miles

Lot B - Employee Parking

9.89 miles

Buddy's Pizza

1.81 miles

Wixom station

2.25 miles

Boston Market

2.44 miles

Diamond Jim Brady's Bistro Bar

2.49 miles

Yeung's Lotus Express

2.63 miles

Lifestyle Cafés

2.64 miles

Burger King

3.81 miles

Table 5

4.72 miles

Rao Gari Vindu Indian Cuisine, Bar & Banquet

5.70 miles

J. Alexander's

6.47 miles

Twelve Mile Crossing at Fountain Walk

1.86 miles

Kohl's

2.02 miles

West Oaks II

2.08 miles

Rent-a-Center

2.08 miles

West Oaks I

2.09 miles

Macy's

2.51 miles

Twelve Oaks Mall

2.62 miles

TJ Maxx

2.64 miles

Nordstrom

2.74 miles

Mirai

2.92 miles

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 Amount
  • 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
Unlock on CommercialEdge
Occupancy & Leasing Activity
Occupancy
83.5%
Lease Spread
-20.5%
Unlock on CommercialEdge

Asking Rents in Novi Office Market

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

  • 2021 Avg. Asking Rent $22.78
  • 2021 Office Vacancy Rate 14.93%
  • 2021 Office Completions (SF)
View more Novi market trends

Tax

  • Market Value* $14,186,420
  • Assessed Value $14,186,420

Find more tax info, including assessment history and abatements, on CommercialEdge

*The displayed market value represents the assessed value determined by the appropriate local tax/financial authority. It is not the property’s latest sale price or a current market value based on recent area sales.

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 2022 was $14,186,420.
*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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