Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    5054 Gratiot Ave Saint Clair, MI 48079

    Sponsored
    For Sale
    Under Contract
    $268,000

    Multi-Family, 2 Story - Saint Clair, MI

    Property size:
    3,000 SF
    Lot size:
    0.55 Acres
    Days on Market:
    13
    Last Refresh:
    Jan 26 at 1:06 pm

    Property Features for 5054 Gratiot Ave

    General Information

    Property type
    Residential Multi Family
    Standard status
    Active Under Contract
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Bedrooms
    6
    Bathrooms
    5
    APN
    30-002-2021-000
    Parking features
    Garage, Garage - Detached
    Patio and Porch features
    Patio
    Exterior features
    Patio, Sidewalks
    Appliances
    Range, Refrigerator
    Size
    3,000 SF
    Lot size
    0.55 Acres

    Utilities

    Heating system
    Forced Air, Wall Furnace
    Cooling system
    Wall/Window Unit(s)

    Building Details

    Year built
    1960
    Floors in Building
    2
    Number of units
    5
    Building materials
    Vinyl Siding
    Architectural style
    Other

    We can help!

    Listing Contact
    Renee Bacon

    Keller Williams Realty Macomb-St. Clair Market Center (586) 949-0200

    Listing agent Renee Bacon (586) 949-0200 License #6501422754

    Listing date Jan 14, 2026

    MLS# 50185537 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Updated Multi-Family Investment Opportunity

    This updated, income-generating 5-unit apartment building is situated on a 0.55-acre lot and includes a large garage. The property features three 1-bed/1-bath units, one 1+/1 unit, and one 2-bed/1-bath unit. Unit updates include some flooring, paint, closets, and bathroom upgrades. Recent major improvements include two 50-gallon hot water tanks and roof work completed in 2024, a new well pump & pressure regulator, and a septic system that's professionally serviced annually. The property has some deferred maintenance and is in need of some upgrades, presenting a value-add opportunity for investors or entrepreneurs. The property includes a spacious 2.5-car garage with ample parking. The property generates $3,650 in monthly rental income. Natural gas is used only for the furnace and hot water tanks. Five separate electric meters add convenience and ease of management. Additional permitted uses expand the potential of this property even further: consider operating a daycare center, bed & breakfast, senior day care facility, or even running your own business from this property. Located minutes from the expressway and downtown Marysville, within the desirable Marysville School District (St. Clair Township mailing address), this property offers privacy, accessibility, and multiple income opportunities. A well & septic inspection have already been done.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Realty agency Building Supply Wholesale Shop Auto Repair Shop Kitchen & Bath HVAC Service Electrical Service Storage Facility Garden Center Wine and Liquor Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Saint Clair
    County
    St. Clair
    State
    Michigan
    Longitude
    -82.521249
    Latitude
    42.900856

    Nearby Similar for Sale

    • $399,900
      4,885 SF

      Riverfront Commercial Unit in Plaza

      Spacious commercial unit in Riverview Plaza with river frontage.
      201 N Riverside Ave, Saint Clair, MI 48079
      View Details
    • $399,000
      3,500 SF

      Updated Space in Saint Clair

      Two-story commercial building with open layout suitable for retail or office.
      1306 S Carney Dr, Saint Clair, MI 48079
      View Details
    • New
      $350,000
      2,582 SF

      Prime Corner Lot in St. Clair

      Commercially zoned property in downtown St. Clair with high visibility.
      102 S 3Rd St, Saint Clair, MI 48079
      View Details
    • $599,900

      Gas Station/Truck Stop Opportunity

      3.5-acre site suitable for gas station or truck stop.
      1480 Wadhams Rd, Saint Clair, MI 48079
      View Details
    • $420,000
      3,500 SF

      Saint Clair Office Building - $420K

      Versatile Office/Retail Space, Excellent Condition
      1306 Carney Dr, Saint Clair, MI 48079
      View Details
    • Contact for pricing
      76,300 SF

      Riverview East High School Redevelopment

      Historic School Building, Huge Potential
      301 6Th St, Saint Clair, MI 48079
      View Details

    FAQs

    What type of property is this?
    Apartment building - Income-generating 5-unit apartment building with updates and value-add potential.
    Where is this apartment building located?
    The property is located at 5054 Gratiot Ave Saint Clair, MI.
    What is the asking price?
    The asking price for this property is $268,000.
    What are key features of this property?
    This property features: - Income-generating 5-unit apartment building with $3,650 monthly rental income.; - Large 2.5-car garage and ample parking.; - Recent major improvements include roof work (2024), new well pump & pressure regulator, and septic system professionally serviced annually.
    (810) 357-9495
    Request Owner's contact information
    5054 Gratiot Ave Saint Clair, MI 48079
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    5054 Gratiot Ave
    Saint Clair, MI 48079
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    5054 Gratiot Ave Saint Clair, MI 48079
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Renee Bacon
    Real Estate License ID: 6501422754
    (810) 357-9495
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.