2018 Retail Storefront with Optical
For Sale
$1,099,999
Pending
900 E Michigan Avenue, Saline, MI 48176
COMMERCIAL - Saline, MI
Property Size2,548 SF
Lot Size0.58 Acres
Days on Market83
Property Features for 900 E Michigan Avenue
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
SPA-1
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Interior features
Broadband
Elementary school district
Saline
Middle school district
Saline
High school district
Saline
Standard status
Pending
APN
18-12-31-490-005
Size
2,548 SF
Lot size
0.58 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
AMENDED PLAT MD L 5213 P 134 UNIT 5, SALINE PLAZA CONDOMINIUM SPLIT ON 08/07/2017 FROM 18-12-31-470-039;
Tax Annual Amount
22058
Legal Description
AMENDED PLAT MD L 5213 P 134 UNIT 5, SALINE PLAZA CONDOMINIUM SPLIT ON 08/07/2017 FROM 18-12-31-470-039;
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
2018
Number of units
1
Building materials
Stucco
Roof type
Composition
Listing Agency:
Berkshire Hathaway HomeServices MI
(269) 344-8599
Listed By:
Ryan Rider · License #6501273398
(269) 344-8599
Added: Jun 5
Changed: Aug 4
Last Checked: Aug 26 at 1:06PM
MLS# 26027758
Copyright © 2026 Michigan Regional Information Center, LLC. 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 2018-built retail storefront features a current optical retailer tenant in place. The property is sized at 2,548 square feet on a 0.58-acre lot and is positioned for investors seeking a hands-off ownership experience, with the landlord responsibilities described as very limited.
The asset is located at 900 E Michigan Avenue in Saline, Michigan (Washtenaw County). The ongoing tenancy is supported by a corporate tenant with over 900 locations across 34 states.
As currently configured and operating as an optical retail use, the storefront provides a straightforward, single-purpose retail setting for a long-term tenant relationship.
The asset is located at 900 E Michigan Avenue in Saline, Michigan (Washtenaw County). The ongoing tenancy is supported by a corporate tenant with over 900 locations across 34 states.
As currently configured and operating as an optical retail use, the storefront provides a straightforward, single-purpose retail setting for a long-term tenant relationship.
Key Highlights
- Built in 2018
- Central air conditioning and forced‑air heating
- Stucco exterior with composition roof
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
$34,646
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
3.15%
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%
$692,920
$692.9K
Cap Rate 7%
$494,943
$494.9K
Cap Rate 9%
$384,956
$385.0K
Market Conditions
NOI Build-Up for 2,548 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
$53.5K $21.00/SF
− Vacancy
−$4.0K −$1.58/SF
EGI
$49.5K $19.43/SF
− OpEx
−$14.8K −$5.83/SF
NOI
$34.6K $13.60/SF
Area
Washtenaw County, MI
Vacancy
7.50%
Lease Rate
$21.00 /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%
$692,920
Cap Rate 7%
$494,943
Cap Rate 9%
$384,956
Alternative Uses
Best Use
Retail
$494.9K
$433.1K – $577.4K
NOI $34,646 @ 7.0% cap · market cap 3.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$748.7K
$655.1K – $873.5K
NOI $52,407 @ 7.0% cap · market cap 4.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
394
Businesses Nearby
148k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 45%
Shops & Services 22%
Groceries 16%
Home Improvements & Furnishings 12%
McDonald's
Dining
26,195 visits/mo
0.1 miles
Busch's Fresh Food Market
Groceries
23,993 visits/mo
0.2 miles
Tim Hortons
Dining
14,932 visits/mo
0.3 miles
BP
Shops & Services
12,120 visits/mo
0.1 miles
Wendy's
Dining
10,062 visits/mo
0.0 miles
Demographics for 48176, MI
22,833
Population
9,076
Households
2.5
Avg Household Size
44
Median Age
58%
College-Educated
96%
High-School Grad
70.8 sq mi
ZIP Area
323
Density / Sq Mi
$110,987
Median Household Income
$53,263
Median Earnings
$1,161
Median Rent
$384,700
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Saline Flowerland — 7370 E Michigan Ave, Saline, MI 48176
Frequently Asked Questions
What type of property is this?
Storefront property - Built in 2018 and leased to an optical retailer, offering long-term occupancy with limited landlord responsibilities.
Where is this storefront property located?
The property is located at 900 E Michigan Avenue Saline, MI.
What is the asking price?
The asking price for this property is $1,099,999.
What are key features of this property?
This property features: Built in 2018; Central air conditioning and forced‑air heating; Stucco exterior with composition roof
