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    La Salle Convenience Store Opportunity Title is generated by Realmo AI

    12240 S Dixie Highway, La Salle, MI 48145

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    Claim this Listing
    Pending
    $399,900

    COMMERCIAL - La Salle, MI

    Property size:
    2,800 SF
    Lot size:
    1.47 Acres
    Added:
    Feb 18, 2026
    Days on Market:
    98
    Last Refresh:
    May 27 at 12:06 am

    Property Features for 12240 S Dixie Highway

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Pending
    Size
    2,800 SF
    Lot size
    1.47 Acres

    Taxes and HOA fees

    Tax Annual Amount
    3043

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1950

    We can help!

    Listing Contact
    Theresa Barton
    Theresa Barton

    Listing agent Theresa Barton License #6501328287

    Listing office Key Realty One LLC - S. Dixie 15366 S Dixie Hwy, Lambertville, MI

    Listing date Feb 18, 2026

    MLS# 50199698

    Copyright © 2026 Southeastern Border Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • High traffic location with excellent visibility (6,312 vehicles daily per MDOT).
    • Multiple revenue streams including lotto, tobacco, beer/wine, groceries, pizza/subs.
    • Turnkey operation: sale includes essential equipment like pizza ovens, freezers and beverage coolers.
    • Recent major updates: new furnace/AC (2025), blacktop, kitchen equipment, and roof/ceiling/flooring (replaced ~4 years ago with 25‑year warranty).
    • Prime location near marinas generates strong seasonal traffic.
    • Potential to add fuel service and/or a 3‑bedroom apartment above the market.

    Overview

    This established neighborhood convenience store is located in La Salle, MI, and benefits from significant traffic exposure. According to MDOT, the property sees an average of 6,312 vehicles passing by daily. Its location near local marinas generates seasonal traffic from boaters and lake visitors. The store has multiple revenue streams, including lotto, tobacco, beer and wine sales, grocery essentials, firewood, and propane. The current owner prepares pizza and subs for carry-out, which creates repeat business and steady local traffic. Updates include a new furnace and A/C (2025), redone blacktop, and updated kitchen equipment. The roof, ceiling, and flooring were replaced approximately 4 years ago and have a 25-year warranty. Included in the sale are 2 pizza ovens, 1 bread oven, 1 freezer, 1 fridge, a deli case, meat slicer, 9 beverage coolers on one side and 8 on the other. The location offers the potential to add fuel service, subject to approvals, as there are no gas stations between Monroe and Toledo along this corridor. There is also the option to build or finish a 3-bedroom, 1-bathroom apartment above the market. The property size is 2,800 square feet and the lot size is 1.47 acres.

    Financial Insights

    Value Estimation Calculated for Specialty Retail

    Conservative
    $303.0K
    NOI $27,273 @ 9.00% cap · cautious / downside scenario
    Moderate
    $389.6K
    NOI $27,273 @ 7.00% cap · market / base-case scenario
    Aggressive
    $545.5K
    NOI $27,273 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Specialty Retail

    Component $ $/SF
    Gross rent $39.3k $14.04
    − Vacancy −$2.9k −$1.05
    EGI $36.4k $12.99
    − OpEx −$9.1k −$3.25
    NOI $27.3k $9.74
    2,800 SF · lease $14.04/SF/yr · vacancy 7.50% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Specialty Retail
    $389.6K
    $340.9K – $454.6K (±1% cap)
    NOI $27,273 @ 7.0% cap · market cap 6.82%
    Second Best
    Retail
    $384.3K
    $336.3K – $448.4K (±1% cap)
    NOI $26,901 @ 7.0% cap · market cap 6.73%
    Theoretical Best
    Warehouse
    $2.89M
    $2.53M – $3.37M (±1% cap)
    NOI $202,149 @ 7.0% cap · market cap 50.55%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Grocery and convenience stores

    Suggested Use

    Building Supply Bar & Pub HVAC Service Electrical Service Coworking & Hybrid Office

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    La Salle
    County
    Monroe
    State
    Michigan
    Longitude
    -83.470224
    Latitude
    41.840709

    FAQs

    What type of property is this?
    Grocery and convenience store - Established store with high traffic, expansion potential, and multiple revenue streams.
    Where is this grocery and convenience store located?
    The property is located at 12240 S Dixie Highway La Salle, MI.
    What is the asking price?
    The asking price for this property is $399,900.
    What are key features of this property?
    This property features: High traffic location with excellent visibility (6,312 vehicles daily per MDOT).; Multiple revenue streams including lotto, tobacco, beer/wine, groceries, pizza/subs.; Turnkey operation: sale includes essential equipment like pizza ovens, freezers and beverage coolers.
    (734) 735-5228
    We can help!
    Listing Contact
    Theresa Barton
    Theresa Barton
    Real Estate License ID: 6501328287
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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