Restaurant Pad in Sterling
For Sale
Contact for pricing
33785 Van Dyke Ave, Sterling Heights, MI
Restaurant pad located in Sterling Ponds Shopping Center.
Property Size4,997 SF
Lot Size39.44 Acres
Price / SF$160.10
Days on Market1194
Property Features for 33785 Van Dyke Ave
General Information
Standard status
Active
Size
4,997 SF
Lot size
39.44 Acres
Property subtype
RETAIL
Listing Agency:
Transwestern | Detroit
(248) 440-1447
Listed By:
Charles (Chuck) Howard · License #6506044836
(248) 440-1447
Source:
Moodyscre
Added: May 4, 2023
Changed: Jul 6
Last Checked: Aug 9 at 12:48PM
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 Transwestern | Detroit
Investment Insights
Based on property information with market context.
This restaurant pad is located on the west side of Van Dyke Avenue, north of 14 Mile Road, within the Sterling Ponds Shopping Center, which is anchored by Walmart. The property has a size of 4997 square feet. The site is surrounded by numerous commercial businesses and is in close proximity to the GM Tech Center, Chrysler, Beaumont Hospital, and Macomb Community College. The property is suitable for restaurant and retail use, and is located within a shopping center.
Key Highlights
- Anchored by Walmart in Sterling Ponds Shopping Center
- Located on the West Side of Van Dyke Avenue, North of 14 Mile Road
- Restaurant pad site
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
$64,341
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
8.04%
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%
$1,286,820
$1.3M
Cap Rate 7%
$919,157
$919.2K
Cap Rate 9%
$714,900
$714.9K
Market Conditions
NOI Build-Up for 4,997 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
$92.9K $18.60/SF
− Vacancy
−$7.2K −$1.43/SF
EGI
$85.8K $17.17/SF
− OpEx
−$21.4K −$4.29/SF
NOI
$64.3K $12.88/SF
Area
Sterling Heights, MI
Vacancy
7.70%
Lease Rate
$18.60 /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%
$1,286,820
Cap Rate 7%
$919,157
Cap Rate 9%
$714,900
Alternative Uses
Best Use
Specialty Retail
$919.2K
$804.3K – $1.07M
NOI $64,341 @ 7.0% cap · market cap 8.04%
Second Best
Retail
$857.9K
$750.6K – $1.00M
NOI $60,051 @ 7.0% cap · market cap 7.51%
Theoretical Best
Office A
$1.10M
$964.6K – $1.29M
NOI $77,165 @ 7.0% cap · market cap 9.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
356
Businesses Nearby
286k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 48%
Home Improvements & Furnishings 17%
Dining 16%
Shops & Services 10%
Walmart
Superstores
136,501 visits/mo
0.3 miles
Menards
Home Improvements & Furnishings
47,089 visits/mo
0.3 miles
Speedway
Shops & Services
16,047 visits/mo
0.4 miles
Gordon Food Service
Groceries
14,707 visits/mo
0.4 miles
McDonald's
Dining
14,005 visits/mo
0.4 miles
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- C S & T — 6566 Sterling Dr S, Sterling Heights, MI 48312
- Great American Foods — 6566 Sterling Dr S, Sterling Heights, MI 48312
Frequently Asked Questions
What type of property is this?
Restaurant - Restaurant pad located in Sterling Ponds Shopping Center.
Where is this restaurant located?
The property is located at 33785 Van Dyke Ave Sterling Heights, MI.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Anchored by Walmart in Sterling Ponds Shopping Center; Located on the West Side of Van Dyke Avenue, North of 14 Mile Road; Restaurant pad site
