Strong Demographics & Long Term Tenancy 29048-29098 N Campbell Rd 38,000 SF 100% Leased Retail Building Madison Heights, MI 48071 $5,500,000 ($144.74/SF) 7.80% Cap Rate

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 resilience.
Madison Heights is situated within one of Southeast Michigan’s most established employment corridors, characterized by a high concentration of manufacturing, engineering, logistics and technology-oriented businesses. The city alone is home to more than 1,300 businesses within 7.2 square miles, contributing to a five-mile daytime population exceeding 415,000. Nearby institutional employers—including Corewell Health, Henry Ford Health and Ascension—further support employment density, daytime traffic and sustained demand for surrounding retail and service uses.
Strategically positioned as an inner-ring suburb bordering Royal Oak, Troy, Hazel Park and Clawson, Madison Heights offers direct access to the broader Detroit metropolitan area via I-75 and I-696. Oakland County’s strong economic fundamentals—including its AAA bond rating and status as one of the nation’s wealthiest counties of its size—underscore the long-term investment appeal of the submarket.
Royal Madison Plaza offers investors a fully stabilized retail asset with strong in-place income, a diverse tenant mix and embedded upside through future renewals and rental growth. Its high-visibility location, proximity to infill demand and positioning within a dense five-mile retail trade area make the property a compelling opportunity within one of Southeast Michigan’s most durable retail environments