For Sale
$350,000
10691 W Grand River Road, Fowlerville, MI 48836
Conventional restaurants
Property Size2,939 SF
Price / SF$119.09
Days on Market40
Property Features for 10691 W Grand River Road
General Information
Standard status
Active
Size
2,939 SF
Property subtype
Industrial
Amenities
3
139100
Building Details
Year Built
19
Listing Agency:
KW Realty Livingston
(586) 443-1618
Listed By:
Brigel Lulaj · License #6501448878
(586) 443-1618
Source:
Xome
Added: Jul 1
Changed: Aug 8
Last Checked: Aug 9 at 5:19AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of KW Realty Livingston
Investment Insights
Based on property information with market context.
Key Highlights
- Standalone retail building currently set up as a restaurant
- Guest facilities: 3
- Year built: 19
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
$32,204
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
9.20%
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%
$644,080
$644.1K
Cap Rate 7%
$460,057
$460.1K
Cap Rate 9%
$357,822
$357.8K
Market Conditions
NOI Build-Up for 2,939 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
$44.1K $15.00/SF
− Vacancy
−$1.1K −$0.39/SF
EGI
$42.9K $14.61/SF
− OpEx
−$10.7K −$3.65/SF
NOI
$32.2K $10.96/SF
Area
Livingston County, MI
Vacancy
2.60%
Lease Rate
$15.00 /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%
$644,080
Cap Rate 7%
$460,057
Cap Rate 9%
$357,822
Alternative Uses
Best Use
Specialty Retail
$460.1K
$402.6K – $536.7K
NOI $32,204 @ 7.0% cap · market cap 9.20%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$468.1K
$409.6K – $546.2K
NOI $32,770 @ 7.0% cap · market cap 9.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
17
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48836, MI
14,183
Population
5,614
Households
2.5
Avg Household Size
39
Median Age
21%
College-Educated
94%
High-School Grad
94.0 sq mi
ZIP Area
151
Density / Sq Mi
$86,317
Median Household Income
$47,510
Median Earnings
$1,068
Median Rent
$262,700
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
Where is this conventional restaurant located?
The property is located at 10691 W Grand River Road Fowlerville, MI.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Standalone retail building currently set up as a restaurant; Guest facilities: 3; Year built: 19
