Downtown Corner Property with
For Sale
$674,900
11522 Davis St, Grand Blanc, MI 48439
Corner property in downtown Grand Blanc with apartment and parking.
Property Size3,294 SF
Days on Market122
Property Features for 11522 Davis St
General Information
Standard status
Active
Size
3,294 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$8,467
Building Details
Building Size
3,294 SF
Year Built
1920
Units
2
Listing Agency:
(810) 252-6749
Listed By:
John T Sedlarik · License #6501387823
(810) 252-6749
Source:
Elliman
Added: Apr 24
Changed: Aug 16
Last Checked: Aug 23 at 5:54AM
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 John T Sedlarik
Investment Insights
Based on property information with market context.
This property, situated on the corner of Davis Street and Grand Blanc Road in the heart of downtown Grand Blanc, presents numerous opportunities. The location, just one street off the main light in town, combines two parcels into one. The building, previously a salon for decades, is ready for a new venture. Potential uses include a 4-6 unit multi-family apartment building. The large, open floor plan features different levels and ample storage. Two middle walls in the lower level are non-load bearing and can be removed. Additional bathrooms are plumbed under the northeast corner. The building is equipped with two newer furnaces, along with a 2-year-old furnace and AC unit dedicated to the upstairs apartment. It also includes two AC units and three hot water heaters. The property has two separate basements, one partially finished, both with new drain tiles and sump pumps. A large 2-bedroom apartment is located above the salon, featuring one full bath, private side entrances, vaulted ceilings, and balconies off both bedroom sliding doors. This apartment is currently leased to a long-term tenant. A large parking lot is in good condition, and a handicap ramp leads to the front door. The property has a walk score of 70, indicating it is very walkable, and a bike score of 50, making it bikeable. Projected incomes and rent are based on 6 units at $1200-$1500 a month. Financials are based off of just the 2 bedroom apartment on the 2nd floor.
Key Highlights
- Prime downtown location: Corner lot, one street off main street, offering high visibility and accessibility.
- Development potential: Suitable for a 4‑6 unit multi‑family apartment building or other business ventures.
- Income‑generating apartment: Includes a leased 2‑bedroom apartment with vaulted ceilings and balconies, providing immediate rental income.
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
$34,195
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
5.07%
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%
$683,900
$683.9K
Cap Rate 7%
$488,500
$488.5K
Cap Rate 9%
$379,944
$379.9K
Market Conditions
NOI Build-Up for 3,294 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
$51.0K $15.48/SF
− Vacancy
−$2.1K −$0.65/SF
EGI
$48.8K $14.83/SF
− OpEx
−$14.7K −$4.45/SF
NOI
$34.2K $10.38/SF
Area
Genesee County, MI
Vacancy
4.20%
Lease Rate
$15.48 /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%
$683,900
Cap Rate 7%
$488,500
Cap Rate 9%
$379,944
Alternative Uses
Best Use
Retail
$488.5K
$427.4K – $569.9K
NOI $34,195 @ 7.0% cap · market cap 5.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$693.1K
$606.5K – $808.7K
NOI $48,520 @ 7.0% cap · market cap 7.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
516
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48439, MI
51,719
Population
22,101
Households
2.3
Avg Household Size
41
Median Age
43%
College-Educated
96%
High-School Grad
54.5 sq mi
ZIP Area
949
Density / Sq Mi
$88,505
Median Household Income
$47,506
Median Earnings
$1,035
Median Rent
$250,800
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.
Similar Off Market Nearby
- Royal Gardens — 214 McFarland St, Grand Blanc, MI 48439
- Kroger Floral Department — 12731 S Saginaw St, Grand Blanc, MI 48439
Frequently Asked Questions
What type of property is this?
Storefront property - Corner property in downtown Grand Blanc with apartment and parking.
Where is this storefront property located?
The property is located at 11522 Davis St Grand Blanc, MI.
What is the asking price?
The asking price for this property is $674,900.
What are key features of this property?
This property features: Prime downtown location: Corner lot, one street off main street, offering high visibility and accessibility.; Development potential: Suitable for a 4‑6 unit multi‑family apartment building or other business ventures.; Income‑generating apartment: Includes a leased 2‑bedroom apartment with vaulted ceilings and balconies, providing immediate rental income.
