Grocery and Convenience
11515 E Pleasant Lake Road, Manchester, MI 48158
For Sale
$209,000
Commercial Sale, Manchester, MI
Property Size1,414 SF
Lot Size1.28 Acres
Price / SF$147.81
Days on Market11
Property Features for 11515 E Pleasant Lake Road
General Information
Property type
Property subtype
Bathrooms
Full bathrooms
Rooms
Elementary school district
Middle school district
High school district
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Utilities
Sewer type
Heating system
Cooling system
Water source
Building Details
Year built
Number of units
Building materials
Roof type
Listing Agency:
Done Right Real Estate
(734) 408-4460
Listed By:
Gene DeRossett · License #6501101403
(734) 395-2337
Added: Oct 28
Last Checked: Nov 7 at 2:06AM
MLS# 26057343
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.
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Investment Insights
Based on property information with market context.
Fredonia Grocery is a 1,414-square-foot grocery and convenience store on a 1.28-acre parcel at 11515 E. Pleasant Lake Road in Manchester. The building dates to 1972 and has metal siding, a metal and rubber roof, one bathroom, central air conditioning, and forced-air heating.
The store offers beer, wine, liquor, and lottery sales. Site utilities include cable availability, a private water source, and septic service.
The store offers beer, wine, liquor, and lottery sales. Site utilities include cable availability, a private water source, and septic service.
Key Highlights
- 1.28‑acre parcel with a 1,414‑square‑foot building
- Store offerings include beer, wine, liquor, and lottery sales
- Built in 1972, with metal siding and a metal and rubber roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,227
Cap Rate
9.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$384,540
$384.5K
Cap Rate 7%
$274,671
$274.7K
Cap Rate 9%
$213,633
$213.6K
Market Conditions
NOI Build-Up for 1,414 SF
Gross rent
$29.7K $21.00/SF
− Vacancy
−$2.2K −$1.58/SF
EGI
$27.5K $19.43/SF
− OpEx
−$8.2K −$5.83/SF
NOI
$19.2K $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 Rate 5%
$384,540
Cap Rate 7%
$274,671
Cap Rate 9%
$213,633
Alternative Uses
Best Use
Specialty Retail
$280.4K
$245.4K – $327.2K
NOI $19,631 @ 7.0% cap · market cap 9.39%
Second Best
Retail
$274.7K
$240.3K – $320.5K
NOI $19,227 @ 7.0% cap · market cap 9.20%
Theoretical Best
Office A
$415.5K
$363.5K – $484.7K
NOI $29,083 @ 7.0% cap · market cap 13.92%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
11
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48158, MI
7,362
Population
3,348
Households
2.2
Avg Household Size
49
Median Age
38%
College-Educated
97%
High-School Grad
95.1 sq mi
ZIP Area
77
Density / Sq Mi
$97,692
Median Household Income
$56,926
Median Earnings
$900
Median Rent
$298,100
Median Home Value
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?
Grocery and convenience store - The building has central air conditioning and forced-air heat.
Where is this grocery and convenience store located?
The property is located at 11515 E Pleasant Lake Road Manchester, MI.
What is the asking price?
The asking price for this property is $209,000.
What are key features of this property?
This property features: 1.28‑acre parcel with a 1,414‑square‑foot building; Store offerings include beer, wine, liquor, and lottery sales; Built in 1972, with metal siding and a metal and rubber roof
