Open-Layout Grocery and Convenience
For Sale
Contact for pricing
12207 W Grand River Ave, Detroit, MI 48204
Large open interior within a commercially zoned Detroit property.
Property Size8,000 SF
Price / SF$152.50
Days on Market293
Property Features for 12207 W Grand River Ave
General Information
Standard status
Active
Size
8,000 SF
Property subtype
Business for Sale
Zoning
C
Net Operating Income
$109,800
Building Details
Year Built
2005
Stories
1
Listing Agency:
My Realty
Listed By:
Joe Manuel · License #6502433177
Source:
Crexi
Added: Nov 13, 2025
Changed: Aug 30
Last Checked: Sep 1 at 11:43AM
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 My Realty
Investment Insights
Based on property information with market context.
This 8,000-square-foot grocery and convenience property occupies a .75-acre parcel in Detroit. The building dates to 2005 and offers a large open interior that can support flexible retail configuration. Zoning is designated C.
The property is located at 12207 W Grand River Ave, Detroit, MI 48204, with 307' of frontage along W Grand River Avenue. Its combination of building area, site size, and road exposure provides a clear physical profile for retail-oriented consideration.
The property is located at 12207 W Grand River Ave, Detroit, MI 48204, with 307' of frontage along W Grand River Avenue. Its combination of building area, site size, and road exposure provides a clear physical profile for retail-oriented consideration.
Key Highlights
- 8,000 SF building on a .75‑acre parcel
- 307' frontage along W Grand River Avenue
- Large open interior layout
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
$105,574
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
8.65%
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%
$2,111,480
$2.1M
Cap Rate 7%
$1,508,200
$1.5M
Cap Rate 9%
$1,173,044
$1.2M
Market Conditions
NOI Build-Up for 8,000 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
$148.8K $18.60/SF
− Vacancy
−$8.0K −$1.00/SF
EGI
$140.8K $17.60/SF
− OpEx
−$35.2K −$4.40/SF
NOI
$105.6K $13.20/SF
Area
Detroit, MI
Vacancy
5.40%
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%
$2,111,480
Cap Rate 7%
$1,508,200
Cap Rate 9%
$1,173,044
Alternative Uses
Best Use
Specialty Retail
$1.51M
$1.32M – $1.76M
NOI $105,574 @ 7.0% cap · market cap 8.65%
Second Best
Retail
$1.41M
$1.23M – $1.64M
NOI $98,535 @ 7.0% cap · market cap 8.08%
Theoretical Best
Office A
$1.76M
$1.54M – $2.06M
NOI $123,538 @ 7.0% cap · market cap 10.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
253
Businesses Nearby
38k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 76%
Dining 13%
Electronics 10%
Dollar General
Shops & Services
7,870 visits/mo
0.2 miles
Shell
Shops & Services
6,799 visits/mo
0.3 miles
Family Dollar
Shops & Services
4,978 visits/mo
0.1 miles
Metro by T-Mobile
Electronics
3,828 visits/mo
0.3 miles
BP
Shops & Services
3,620 visits/mo
0.4 miles
Demographics for 48204, MI
21,738
Population
13,691
Households
1.6
Avg Household Size
37
Median Age
10%
College-Educated
83%
High-School Grad
5.0 sq mi
ZIP Area
4,348
Density / Sq Mi
$32,875
Median Household Income
$26,701
Median Earnings
$970
Median Rent
$53,600
Median Home Value
Market
Vacancy Rate% for Retail in Detroit, MI
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Large open interior within a commercially zoned Detroit property.
Where is this grocery and convenience store located?
The property is located at 12207 W Grand River Ave Detroit, MI.
What is the asking price?
The asking price for this property is $1,220,000.
What are key features of this property?
This property features: 8,000 SF building on a .75‑acre parcel; 307' frontage along W Grand River Avenue; Large open interior layout
