Corner Convenience Store
For Sale
$324,900
2821 S Hill Road, Gladstone, MI 49837
COMMERCIAL - Gladstone, MI
Property Size2,584 SF
Lot Size0.26 Acres
Price / SF$125.74
Days on Market79
Property Features for 2821 S Hill Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Zoning description
Commercial
Parking features
Parking Lot
Subdivision
MASHEK BUCKBEE ADDITION OF CITY OF GLADSTONE
Lot features
Subdivision, Cleared
Standard status
Active
Size
2,584 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Year
2022
Tax Annual Amount
4849
Utilities
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1997
Roof type
Asphalt
Listing Agency:
PREMIER REAL ESTATE, INC.
(906) 786-5030
Listed By:
LORI RYMKOS · License #UPAR
(906) 280-3165
Added: May 15
Changed: Jul 11
Last Checked: Aug 1 at 12:06AM
MLS# 50207974
Copyright © 2026 Upper Peninsula Association of Realtors. 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 well-known former grocery, liquor, and convenience store includes a large cooler space and a separate kitchen or prep area suited for prepared food uses. A separate entrance serves the kitchen/prep area, supporting independent back-of-house access for food service operations. The property also includes a storage/bathroom area and an office.
The site is located on a corner of two busy roads in Gladstone, MI, with off-street parking provided in the on-site parking lot. The sellers are currently cleaning out all inventory, and photos are not current.
The property is zoned Commercial and has a listed size of 2,584 square feet on a 0.26-acre lot.
The site is located on a corner of two busy roads in Gladstone, MI, with off-street parking provided in the on-site parking lot. The sellers are currently cleaning out all inventory, and photos are not current.
The property is zoned Commercial and has a listed size of 2,584 square feet on a 0.26-acre lot.
Key Highlights
- Proven location with a long‑standing community presence and loyal customer base.
- Multiple income opportunities from beer, wine, liquor, lottery, groceries, and convenience items.
- Separate kitchen/prep area with a separate entrance ideal for expanded food service.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $38.8k | $15.00 |
| − Vacancy | −$6.9k | −$2.69 |
| EGI | $31.8k | $12.32 |
| − OpEx | −$9.5k | −$3.69 |
| NOI | $22.3k | $8.62 |
2,584 SF · lease $15.00/SF/yr · vacancy 17.90% · expense 30.00%
Alternative Uses
Best Use
Specialty Retail
$485.4K
$424.7K – $566.3K
NOI $33,977 @ 7.0% cap · market cap 10.46%
Second Best
Retail
$318.2K
$278.4K – $371.3K
NOI $22,275 @ 7.0% cap · market cap 6.86%
Theoretical Best
Office A
$505.8K
$442.6K – $590.2K
NOI $35,409 @ 7.0% cap · market cap 10.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
41
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 49837, MI
10,086
Population
4,488
Households
2.2
Avg Household Size
48
Median Age
24%
College-Educated
95%
High-School Grad
69.0 sq mi
ZIP Area
146
Density / Sq Mi
$65,905
Median Household Income
$35,156
Median Earnings
$782
Median Rent
$145,300
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?
Grocery and convenience store - Corner storefront with off-street parking, large cooler space, and a separate kitchen/prep area with its own entrance.
Where is this grocery and convenience store located?
The property is located at 2821 S Hill Road Gladstone, MI.
What is the asking price?
The asking price for this property is $324,900.
What are key features of this property?
This property features: Proven location with a long‑standing community presence and loyal customer base.; Multiple income opportunities from beer, wine, liquor, lottery, groceries, and convenience items.; Separate kitchen/prep area with a separate entrance ideal for expanded food service.
