Building Details

Year Built 2004

Buildings 1

Units 1

Listing Agency: Keller Williams Professionals

Listed By: Jeff Glover · License #MI 6501317808 Show Phone

Source: Crexi

Added: Jun 13 Changed: Sep 16 Last Checked: Sep 20 at 8:02AM

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Investment Insights

Based on property information with market context.

This fully operational, turn-key retail lounge includes the existing in-place retail setup and inventory required to open immediately. The storefront features modern glass windows and ample display space, complemented by dedicated rear exit access for day-to-day operations. The offering is described as a diversified retail mix, with stocked shelves that include specialty accessories, glassware, and a selection of daily groceries.

The business is located within Skylar Plaza, positioned along a busy commercial corridor just moments from the Interstate 96 interchange. Customer access is supported by a massive, shared asphalt parking lot. Prominent pylon signage is visible from the main roadway, designed to capture attention from passing highway and local traffic.

This listing is for the business opportunity only and does not include the real estate. The buyer assumes the lease and becomes responsible for utilities under a triple net lease structure. Financials, lease terms, and a full asset inventory are available upon signing an NDA. Please note that the property tax amount is described as pending verification and will be updated once confirmed.

Key Highlights

• Fully operational retail lounge/business opportunity at 1136 W Randall St in Coopersville, MI (Year built: 2004).
• Located in Skylar Plaza with storefront glass windows, ample retail display space, and dedicated rear exit access.
• Prominent pylon signage provides visibility from the main roadway.

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

$11,419

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

3.81%

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%

$228,380 $228.4K

Cap Rate 7%

$163,129 $163.1K

Cap Rate 9%

$126,878 $126.9K

Market Conditions

NOI Build-Up for 1,100 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

$17.0K $15.48/SF

− Vacancy

−$715 −$0.65/SF

EGI

$16.3K $14.83/SF

− OpEx

−$4.9K −$4.45/SF

NOI

$11.4K $10.38/SF

Area

Ottawa County, MI

Vacancy

4.20%

Lease Rate

$15.48 /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%

$228,380

Cap Rate 7%

$163,129

Cap Rate 9%

$126,878

Alternative Uses

Best Use

Retail

$163.1K

$142.7K – $190.3K (±1% cap)

NOI $11,419 @ 7.0% cap · market cap 3.81%

Second Best

—

—

no second resolved use

Theoretical Best

Multifamily LT 5

$13.68M

$11.97M – $15.96M (±1% cap)

NOI $957,516 @ 7.0% cap · market cap 319.17%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Storefront properties

Suggested Use

Top Pick HVAC Service Electrical Service Furniture & Home Goods Parking Lot & Garage Law Firm Nail Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Turnkey business

Opportunity

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

223

Businesses Nearby

142k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 43% Shops & Services 35% Groceries 13% Home Improvements & Furnishings 6%

McDonald's Dining

29,253 visits/mo 0.1 miles

Speedway Shops & Services

19,560 visits/mo 0.1 miles

Family Fare Groceries

17,913 visits/mo 0.1 miles

Citgo Shops & Services

12,433 visits/mo

Arby's Dining

11,275 visits/mo 0.1 miles

Demographics for 49404, MI

8,913

Population

3,369

Households

2.6

Avg Household Size

36

Median Age

25%

College-Educated

93%

High-School Grad

62.4 sq mi

ZIP Area

143

Density / Sq Mi

$77,970

Median Household Income

$41,755

Median Earnings

$1,041

Median Rent

$271,200

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Storefront property - Fully operational lounge with retail display space, storefront glass, and dedicated rear exit in a busy plaza setting.

Where is this storefront property located?

The property is located at 1136 W Randall Street G Coopersville, MI.

What is the asking price?

The asking price for this property is $300,000.

What are key features of this property?

This property features: Fully operational retail lounge/business opportunity at 1136 W Randall St in Coopersville, MI (Year built: 2004).; Located in Skylar Plaza with storefront glass windows, ample retail display space, and dedicated rear exit access.; Prominent pylon signage provides visibility from the main roadway.