Laundromat Retail
For Sale
$1,200,000
2247 S Center Road, Burton, MI 48519
COM/IND/BUS OPP, Burton, MI
Property Size7,330 SF
Lot Size1.47 Acres
Price / SF$163.71
Days on Market357
Property Features for 2247 S Center Road
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Burton (25018)
Standard status
Active
APN
59-22-100-014
Size
7,330 SF
Lot size
1.47 Acres
Utilities
Water source
Public
Building Details
Year built
1987
Listing Agency:
American Associates REALTORS
(810) 579-3333
Listed By:
Denny Chinonis · License #6505196328
(810) 394-0934
Added: Sep 8, 2025
Changed: Aug 19
Last Checked: Aug 30 at 4:06PM
MLS# 50187680
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 for-sale laundromat retail property at 2247 S Center Road in Burton, Michigan offers an owner the opportunity to operate a well-established business in a dedicated retail setting. The property includes 7,330 square feet on a 1.47-acre lot, providing room for the laundromat use within a standalone site configuration.
The location is described as minutes from major highways, which can support convenient access for customers and provide visibility from the surrounding area. The property is also presented as being surrounded by residential neighborhoods, intended to support steady walk-in traffic driven by local customers.
For an owner-operator or investor seeking a retail-oriented laundromat asset, this property may fit well as a hands-on operation or a business acquisition. Prospective buyers should review the existing operation details and the physical condition of the premises as part of their due diligence, and confirm all business-related considerations during the transaction process.
The location is described as minutes from major highways, which can support convenient access for customers and provide visibility from the surrounding area. The property is also presented as being surrounded by residential neighborhoods, intended to support steady walk-in traffic driven by local customers.
For an owner-operator or investor seeking a retail-oriented laundromat asset, this property may fit well as a hands-on operation or a business acquisition. Prospective buyers should review the existing operation details and the physical condition of the premises as part of their due diligence, and confirm all business-related considerations during the transaction process.
Key Highlights
- Laundromat built in 1987
- Public water service
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
$76,092
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
6.34%
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%
$1,521,840
$1.5M
Cap Rate 7%
$1,087,029
$1.1M
Cap Rate 9%
$845,467
$845.5K
Market Conditions
NOI Build-Up for 7,330 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
$113.5K $15.48/SF
− Vacancy
−$4.8K −$0.65/SF
EGI
$108.7K $14.83/SF
− OpEx
−$32.6K −$4.45/SF
NOI
$76.1K $10.38/SF
Area
Genesee County, MI
Vacancy
4.20%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
30.00%
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%
$1,521,840
Cap Rate 7%
$1,087,029
Cap Rate 9%
$845,467
Alternative Uses
Best Use
Retail
$1.09M
$951.2K – $1.27M
NOI $76,092 @ 7.0% cap · market cap 6.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.54M
$1.35M – $1.80M
NOI $107,970 @ 7.0% cap · market cap 9.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
233
Businesses Nearby
Explore this area
Business Placement
Demographics for 48519, MI
7,825
Population
3,356
Households
2.3
Avg Household Size
42
Median Age
16%
College-Educated
88%
High-School Grad
7.8 sq mi
ZIP Area
1,003
Density / Sq Mi
$60,625
Median Household Income
$36,924
Median Earnings
$890
Median Rent
$157,800
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - For-sale laundromat near major highways, offering accessible visibility for walk-in and pass-by customers.
Where is this retail space located?
The property is located at 2247 S Center Road Burton, MI.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Laundromat built in 1987; Public water service
