Troy, Michigan, is a prime location for investing in Retail Properties, offering a strong business presence and a diverse demographic makeup. With a median household income above the national average, Troy is an attractive destination for businesses and individuals alike. Retail Properties in Troy can represent a wide range of investments, from strip centers to freestanding buildings, each offering unique opportunities for entrepreneurs and investors. The city's infrastructure, including Oakland-Troy Airport and Interstate 75, provides easy access to major transportation routes, making it an ideal location for businesses that rely on logistics and distribution. Additionally, Troy is home to several major companies, including Altair Engineering, Behr America, and Flagstar Bank, which contribute to the city's strong economic landscape. The city's amenities, such as the Troy Historic Village and various parks, also make it an attractive place to live and work.
With 11 Retail Properties for sale in Troy, investors have a wide range of options to choose from. The average price per square foot for Retail Properties in Troy is $339 USD, with an average size of 7,746 square feet. The largest Retail Property available is 40,350 square feet. In addition to Retail Properties, Troy also offers a range of other property types, including Shopping Centers, Restaurants, Office Properties, and Hotels. Shopping Centers in Troy offer a variety of retail spaces, while Restaurants provide opportunities for entrepreneurs to establish a presence in the city's culinary scene. Office Properties in Troy are ideal for businesses looking to establish a professional presence, and Hotels cater to the city's visitors and travelers. With its strong business presence and diverse range of property types, Troy is an attractive destination for investors and entrepreneurs alike.
What is the average cap rate for retail properties in Troy?
When it comes to retail properties in Troy, investors can expect an average cap rate of 5%, which is a key metric to consider when evaluating potential investments. To better understand the significance of this rate, it's essential to know what is a cap rate, which is a measure of a property's potential return on investment, and you can learn more about it in our article at what is a cap rate.
How do location and foot traffic affect retail property values?
In Troy, Michigan, location and foot traffic play a significant role in determining retail property values. Properties situated near major transportation hubs, such as Interstate 75, and in close proximity to popular shopping destinations like the Somerset Collection mall, tend to command higher values due to increased visibility and accessibility, which can attract more customers and drive sales.
