Freestanding Catering Kitchen in Mount
1120 Southbound Gratiot Ave, Mount Clemens, MI
For Sale
Contact for pricing
Single-tenant catering kitchen in Mount Clemens, Detroit MSA.
Property Size2,301 SF
Lot Size0.33 Acres
Price / SF$206
Days on Market1213
Property Features for 1120 Southbound Gratiot Ave
General Information
Standard status
Size
Lot size
Property subtype
Listing Agency:
Legacy Real Estate Advisors
(248) 450-3257
Listed By:
Dominic Shamany · License ##6506047766
(248) 450-3259
Source:
Moodyscre
Added: Jul 14, 2023
Changed: Oct 26
Last Checked: Nov 6 at 9:37AM
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 Legacy Real Estate Advisors
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This single-tenant, freestanding catering kitchen is located in Mount Clemens, Michigan, within the Detroit MSA, which is ranked among the top 15 in the U.S.A. The surrounding area has a dense population, with over 90,000 residents within a 3-mile radius. Daytime employment exceeds 33,000 people within the same radius, and the average household income surpasses $69,000. Population growth is projected at +0.35% and household growth at +0.41% through 2027 within a 1-mile radius. The property is strategically situated along southbound Gratiot Avenue, which experiences a daily traffic volume of over 59,000 vehicles. It is located a 30-minute commute to downtown Detroit, MI. The property is 2,301 square feet.
Key Highlights
- Freestanding building with single tenant angels catering kitchen.
- High traffic location: Over 59,000+ vehicles pass the site daily on Gratiot Ave.
- Dense demographics: Over 90,000+ people reside within a 3‑mile radius.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,155
Cap Rate
6.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$603,100
$603.1K
Cap Rate 7%
$430,786
$430.8K
Cap Rate 9%
$335,056
$335.1K
Market Conditions
NOI Build-Up for 2,301 SF
Gross rent
$45.6K $19.80/SF
− Vacancy
−$5.4K −$2.33/SF
EGI
$40.2K $17.47/SF
− OpEx
−$10.1K −$4.37/SF
NOI
$30.2K $13.11/SF
Area
Macomb County, MI
Vacancy
11.75%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$603,100
Cap Rate 7%
$430,786
Cap Rate 9%
$335,056
Alternative Uses
Best Use
Specialty Retail
$430.8K
$376.9K – $502.6K
NOI $30,155 @ 7.0% cap · market cap 6.36%
Second Best
Retail
$243.0K
$212.6K – $283.5K
NOI $17,009 @ 7.0% cap · market cap 3.59%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
359
Businesses Nearby
44k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 78%
Shops & Services 22%
McDonald's
Dining
18,209 visits/mo
0.3 miles
Popeyes Louisiana Kitchen
Dining
7,194 visits/mo
0.4 miles
Wendy's
Dining
7,105 visits/mo
0.5 miles
Sunoco
Shops & Services
4,950 visits/mo
0.0 miles
Huntington Bank
Shops & Services
2,482 visits/mo
0.1 miles
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Commercial kitchen - Single-tenant catering kitchen in Mount Clemens, Detroit MSA.
Where is this commercial kitchen located?
The property is located at 1120 Southbound Gratiot Ave Mount Clemens, MI.
What is the asking price?
The asking price for this property is $474,006.
What are key features of this property?
This property features: Freestanding building with single tenant angels catering kitchen.; High traffic location: Over 59,000+ vehicles pass the site daily on Gratiot Ave.; Dense demographics: Over 90,000+ people reside within a 3‑mile radius.
