12 & Campbell Neighborhood Retail Center — Sale in Madison Heights, MI

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Madison Heights, MI 48071
  • Year built: 1979

Photos

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Investment Figures

Cap rate
7.88%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present Royal Madison Plaza, a fully occupied neighborhood retail center located at 29048–29098 North Campbell Road in Madison Heights, Michigan. The 38,000-square-foot property is situated at a signalized hard corner along one of the city’s primary commercial corridors, offering visibility to nearly 39,000 vehicles per day. While the asset is located in Madison Heights, it sits directly kitty-corner from Royal Oak—one of Metro Detroit’s most desirable and supply-constrained infill markets—allowing the center to draw traffic and demand from multiple established communities. Within a five-mile radius, the property is positioned within approximately 27.7 million square feet of existing retail inventory, forming one of the region’s most dense and mature retail trade areas. This concentration of retail, restaurant and service uses supports strong cross-shopping behavior, consistent customer traffic and long-term tenant demand. Royal Madison Plaza is anchored by Family Dollar, which occupies approximately 29 percent of the gross leasable area and has maintained its tenancy for more than 16 years, underscoring the property’s stability and long-term tenant appeal. The center is further supported by a diverse mix of neighborhood-serving tenants including Irish Tavern, Charlie’s Restaurant, LC’s Asian Kitchen, Northern Lights Supplies, A-1 Tobacco, Annie’s Nails and Madison Division Cannabis. The property benefits from prominent pylon signage, and Hollywood Market as a shadow-anchor, driving consistent traffic and reinforcing the center’s role as a neighborhood-serving retail destination. The surrounding trade area features a significant presence of national and regional retailers including Kroger, BJ’s Wholesale Club, Costco, Meijer, Home Depot, Lowe’s, Target, Best Buy, Walmart, Kohl’s and others. This established retail base—combined with limited new construction and strong occupancy levels—reinforces the corridor’s long-term viability and

Market Context

This retail in Madison Heights, MI is listed for sale. It is offered at an approximate 7.9% capitalization rate, a key benchmark for income-producing retail assets. The building dates to 1979. Compare it against other retail listings for sale in Madison Heights, MI — view the full market.

As of Q1 2026, the Detroit retail market showed a 1.3% vacancy rate, average asking rents near $17.00/SF/yr, and rents up 1.3% year over year. Source: Cushman & Wakefield Q1 2026 market report.

Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Retail market FAQ

Is the Detroit retail market tightening or softening?
Vacancy is around 1.3%, with asking rents rising year over year (Q1 2026).

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