NNN Restaurant Property with
For Sale
$450,000
159 Chartier Street, Marine City, MI 48040
COM/IND/BUS OPP, Marine City, MI
Property Size1,800 SF
Lot Size0.41 Acres
Price / SF$250
Days on Market156
Property Features for 159 Chartier Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Lot features
Corner Lot
Subdivision
Marine City (74027)
Standard status
Active
APN
02-900-0004-000
Size
1,800 SF
Lot size
0.41 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9728
Utilities
Water source
Public
Building Details
Year built
2016
Listing Agency:
Berkshire Hathaway HomeServices Kee Realty SCS
(586) 774-2300
Listed By:
Mario Como · License #6506045071
(248) 651-1200
Added: Apr 3
Changed: Aug 19
Last Checked: Sep 5 at 6:06PM
MLS# 50203283
Copyright © 2026 Multiple Listing Service MiRealSource. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,800-square-foot restaurant property was completed in 2016 and includes a drive-through, on-site parking, and ADA-compliant design with two ADA bathrooms serving employees and customers. The sale includes the real estate only. Public water serves the property, which occupies 0.41 acres at 159 Chartier Street in Marine City, Michigan.
The existing tenant has a 10-year track record, and the current triple-net lease extends through spring 2027. The site also includes a portion of land identified for development of a second income-producing building. The property may continue with the current tenant or be redeveloped for another food-service business.
The existing tenant has a 10-year track record, and the current triple-net lease extends through spring 2027. The site also includes a portion of land identified for development of a second income-producing building. The property may continue with the current tenant or be redeveloped for another food-service business.
Key Highlights
- 1,800‑square‑foot restaurant property completed in 2016
- Existing tenant with a 10‑year track record and lease through spring 2027
- Triple‑net lease structure; sale includes the real estate only
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$24,931
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.54%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$498,620
$498.6K
Cap Rate 7%
$356,157
$356.2K
Cap Rate 9%
$277,011
$277.0K
Market Conditions
NOI Build-Up for 1,800 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$34.1K $18.96/SF
− Vacancy
−$887 −$0.49/SF
EGI
$33.2K $18.47/SF
− OpEx
−$8.3K −$4.62/SF
NOI
$24.9K $13.85/SF
Area
St. Clair County, MI
Vacancy
2.60%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$498,620
Cap Rate 7%
$356,157
Cap Rate 9%
$277,011
Alternative Uses
Best Use
Specialty Retail
$356.2K
$311.6K – $415.5K
NOI $24,931 @ 7.0% cap · market cap 5.54%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.35M
$1.18M – $1.58M
NOI $94,723 @ 7.0% cap · market cap 21.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
300
Businesses Nearby
11k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 87%
Dining 13%
Dollar General
Shops & Services
5,544 visits/mo
0.1 miles
Sunoco
Shops & Services
3,659 visits/mo
0.5 miles
Jet's Pizza
Dining
1,344 visits/mo
0.1 miles
Demographics for 48040, MI
9,994
Population
4,588
Households
2.2
Avg Household Size
44
Median Age
24%
College-Educated
93%
High-School Grad
6.9 sq mi
ZIP Area
1,448
Density / Sq Mi
$69,661
Median Household Income
$45,365
Median Earnings
$955
Median Rent
$185,500
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - 2016-built restaurant property with an existing tenant, triple-net lease, drive-through, and additional development area.
Where is this nnn property located?
The property is located at 159 Chartier Street Marine City, MI.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 1,800‑square‑foot restaurant property completed in 2016; Existing tenant with a 10‑year track record and lease through spring 2027; Triple‑net lease structure; sale includes the real estate only
