Land for Gas
For Sale
$599,800
Pending
1480 WADHAMS Rd, Saint Clair, MI 48079
3.5 acres suitable for gas station or truck stop.
Property Size4,000 SF
Lot Size3.43 Acres
Days on Market164
Property Features for 1480 WADHAMS Rd
General Information
Standard status
Pending
Size
4,000 SF
Lot size
3.43 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$3,205
Building Details
Building Size
4,000 SF
Year Built
1970
Listing Agency:
Got Key'D Realty
(313) 228-5710
Listed By:
Ali Abdallah · License #6501421572
(313) 228-5710
Source:
Elliman
Added: Mar 11
Changed: Aug 11
Last Checked: Aug 11 at 12:42PM
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 Got Key'D Realty
Investment Insights
Based on property information with market context.
This property, situated on approximately 3.5 acres at the corner of I 94 and Wadhams Road, presents an opportunity for development. The site is suitable for a gas station, truck stop, or plaza. Existing underground tanks are present and undergo yearly maintenance. The property is currently vacant.
Key Highlights
- Approximately 3.5‑acre property suitable for gas station/truck stop or plaza.
- Located on the corner of I‑94 and Wadhams.
- Existing underground tanks with yearly maintenance.
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
$51,708
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
8.62%
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%
$1,034,160
$1.0M
Cap Rate 7%
$738,686
$738.7K
Cap Rate 9%
$574,533
$574.5K
Market Conditions
NOI Build-Up for 4,000 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
$75.8K $18.96/SF
− Vacancy
−$2.0K −$0.49/SF
EGI
$73.9K $18.47/SF
− OpEx
−$22.2K −$5.54/SF
NOI
$51.7K $12.93/SF
Area
St. Clair County, MI
Vacancy
2.60%
Lease Rate
$18.96 /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%
$1,034,160
Cap Rate 7%
$738,686
Cap Rate 9%
$574,533
Alternative Uses
Best Use
Specialty Retail
$791.4K
$692.5K – $923.4K
NOI $55,401 @ 7.0% cap · market cap 9.24%
Second Best
Retail
$738.7K
$646.4K – $861.8K
NOI $51,708 @ 7.0% cap · market cap 8.62%
Theoretical Best
Multifamily LT 5
$3.01M
$2.63M – $3.51M
NOI $210,495 @ 7.0% cap · market cap 35.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
11
Businesses Nearby
Explore this area
Business Placement
Demographics for 48079, MI
12,553
Population
5,403
Households
2.3
Avg Household Size
45
Median Age
25%
College-Educated
95%
High-School Grad
41.9 sq mi
ZIP Area
300
Density / Sq Mi
$80,313
Median Household Income
$46,643
Median Earnings
$1,090
Median Rent
$276,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Truck stop - 3.5 acres suitable for gas station or truck stop.
Where is this truck stop located?
The property is located at 1480 WADHAMS Rd Saint Clair, MI.
What is the asking price?
The asking price for this property is $599,800.
What are key features of this property?
This property features: Approximately 3.5‑acre property suitable for gas station/truck stop or plaza.; Located on the corner of I‑94 and Wadhams.; Existing underground tanks with yearly maintenance.
