Gratiot Avenue Multi-Property
For Sale
Contact for pricing
28640 GRATIOT AVE, Roseville, MI 48066
Two commercial buildings in high-traffic area, excellent exposure.
Property Size3,190 SF
Price / SF$83.04
Days on Market470
Property Features for 28640 GRATIOT AVE
General Information
Standard status
Active
Size
3,190 SF
Property subtype
Land
Zoning
B1
Building Details
Year Built
1960
Buildings
2
Stories
2
Listing Agency:
Keller Williams Professionals
(734) 459-4700
Listed By:
Jeff Glover · License #MI 6501317808
Source:
Crexi
Added: Apr 29, 2025
Changed: Aug 8
Last Checked: Aug 10 at 1:44PM
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 Keller Williams Professionals
Investment Insights
Based on property information with market context.
This multi-property sale on Gratiot Avenue includes two commercial buildings situated in a high-traffic area, with approximately 31,174 vehicles passing by daily. The location provides maximum exposure and is just minutes away from highways, shopping centers, and established neighborhoods. One building, located at 28640 Gratiot Ave, is a two-story structure with 3,190 square feet. The second building, located at 28628 Gratiot Ave (Parcel ID 1417232004), is a single-story building with 621 square feet and is included in the sale. Currently zoned B1, the city is open to changing the zoning, subject to final approval. This property is suitable for various commercial uses.
Key Highlights
- Multi‑property sale: Includes two commercial buildings.
- High‑traffic location: Approximately 31,174 vehicles pass daily, ensuring maximum business exposure.
- Ideal location: Minutes from highways, shopping centers, and established neighborhoods.
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
$23,580
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
8.90%
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%
$471,600
$471.6K
Cap Rate 7%
$336,857
$336.9K
Cap Rate 9%
$262,000
$262.0K
Market Conditions
NOI Build-Up for 3,190 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
$38.3K $12.00/SF
− Vacancy
−$4.6K −$1.44/SF
EGI
$33.7K $10.56/SF
− OpEx
−$10.1K −$3.17/SF
NOI
$23.6K $7.39/SF
Area
Macomb County, MI
Vacancy
12.00%
Lease Rate
$12.00 /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%
$471,600
Cap Rate 7%
$336,857
Cap Rate 9%
$262,000
Alternative Uses
Best Use
Mixed Use
$541.4K
$473.7K – $631.6K
NOI $37,897 @ 7.0% cap · market cap 14.31%
Second Best
Retail
$336.9K
$294.8K – $393.0K
NOI $23,580 @ 7.0% cap · market cap 8.90%
Theoretical Best
Specialty Retail
$597.2K
$522.6K – $696.8K
NOI $41,805 @ 7.0% cap · market cap 15.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
581
Businesses Nearby
Explore this area
Business Placement
Demographics for 48066, MI
47,789
Population
22,116
Households
2.2
Avg Household Size
39
Median Age
15%
College-Educated
90%
High-School Grad
9.9 sq mi
ZIP Area
4,827
Density / Sq Mi
$61,222
Median Household Income
$38,978
Median Earnings
$1,175
Median Rent
$142,700
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two commercial buildings in high-traffic area, excellent exposure.
Where is this mixed-use property located?
The property is located at 28640 GRATIOT AVE Roseville, MI.
What is the asking price?
The asking price for this property is $264,900.
What are key features of this property?
This property features: Multi‑property sale: Includes two commercial buildings.; High‑traffic location: Approximately 31,174 vehicles pass daily, ensuring maximum business exposure.; Ideal location: Minutes from highways, shopping centers, and established neighborhoods.
