On July 27, 1993, about 2230 central daylight time, a Piper, PA28; N40023 sustained substantial damage when it ran off the end of the runway, through a parking lot, and struck a van during landing at Big Beaver Airport, Troy, Michigan. The private pilot and two passengers reported no injuries. The pleasure flight originated from Grosse Ile, Michigan. The 14 CFR Part 91 flight was operating in visual meteorological conditions with no flight plan on file. The pilot remembered his final approach to Runway 09 as "slightly high," and said he considered a go-around, but decided to land instead. Upon flaring, about on the numbers of the runway, the aircraft "ballooned up.' The pilot reported that he "bled off the airspeed and touched down approximately 600 feet down (the runway)." He also reported that brakes were ineffective in stopping the aircraft. The aircraft rolled off the runway into a parking lot and collided with a parked van. Postaccident investigation revealed no evidence of pre-impact mechanical malfunction with the airframe, engine or accessories.