Building Details

Year built 1955

Roof type Shingle, Asphalt

Listing Agency: KW Platinum · Keller Williams Realty k***@kw.com Show Phone

Listed By: Kevin Malinowski Show Phone

Added: Aug 4, 2020 Changed: Oct 16 Last Checked: Oct 20 at 8:06AM

Report an Issue

MLS# 50019496

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.

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

Located at 10973 Gratiot Street in Casco, Michigan, this mixed-use property contains 2,600 square feet on a 0.22-acre parcel. The configuration supports commercial activity on the lower level with living space above, creating a combined work-and-residential arrangement within one building.

Built in 1955, the property is equipped with forced-air heating, central air conditioning, public water, and an asphalt shingle roof. A dedicated parking lot serves the building. The improvements require updates and minor repairs, offering a buyer the opportunity to address the property’s condition as part of a future repositioning or owner-user plan.

Key Highlights

• 2,600‑square‑foot mixed‑use building on a 0.22‑acre parcel
• Commercial area below with living space upstairs
• Dedicated on‑site parking lot

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$17,940

Cap Rate

6.08%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$358,800 $358.8K

Cap Rate 7%

$256,286 $256.3K

Cap Rate 9%

$199,333 $199.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,600 SF

Gross rent

$31.2K $12.00/SF

− Vacancy

−$2.5K −$0.96/SF

EGI

$28.7K $11.04/SF

− OpEx

−$10.8K −$4.14/SF

NOI

$17.9K $6.90/SF

Area

St. Clair County, MI

Vacancy

8.00%

Lease Rate

$12.00 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$358,800

Cap Rate 7%

$256,286

Cap Rate 9%

$199,333

Alternative Uses

Best Use

Retail

$480.1K

$420.1K – $560.2K (±1% cap)

NOI $33,610 @ 7.0% cap · market cap 11.39%

Second Best

Mixed Use

$256.3K

$224.3K – $299.0K (±1% cap)

NOI $17,940 @ 7.0% cap · market cap 6.08%

Theoretical Best

Multifamily LT 5

$1.95M

$1.71M – $2.28M (±1% cap)

NOI $136,821 @ 7.0% cap · market cap 46.38%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Live-work space

Location Intelligence

Trade Area within ½ mile

281

Businesses Nearby

Explore this area Business Placement

Demographics for 48064, MI

3,993

Population

1,457

Households

2.7

Avg Household Size

44

Median Age

19%

College-Educated

94%

High-School Grad

37.0 sq mi

ZIP Area

108

Density / Sq Mi

$79,375

Median Household Income

$40,778

Median Earnings

$845

Median Rent

$280,400

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Frequently Asked Questions

What type of property is this?

Mixed-use property - Two-level configuration pairs commercial space with an upstairs living area.

Where is this mixed-use property located?

The property is located at 10973 Gratiot Street Casco, MI.

What is the asking price?

The asking price for this property is $295,000.

What are key features of this property?

This property features: 2,600‑square‑foot mixed‑use building on a 0.22‑acre parcel; Commercial area below with living space upstairs; Dedicated on‑site parking lot