Grocery and Convenience
For Sale
Contact for pricing
13016 MACK AVE, Detroit, MI 48215
For sale storefront grocery and convenience operation with lottery sales and a long-standing local presence.
Property Size4,124 SF
Price / SF$193.74
Days on Market1141
Property Features for 13016 MACK AVE
General Information
Standard status
Active
Size
4,124 SF
Property subtype
Business for Sale, Retail
Additional Details
Business Included
Yes
Building Details
Year Built
1940
Listing Agency:
Home Negotiators LLC
Listed By:
Phillip VanBuren · License #6501335319
Source:
Crexi
Added: Jun 24, 2023
Changed: Jul 10
Last Checked: Aug 6 at 10:48AM
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 Home Negotiators LLC
Investment Insights
Based on property information with market context.
AW Food Center is a for-sale grocery and convenience store featuring a long-running retail presence. The offering includes an established store operation with reported lottery-related revenue performance over recent years, along with lender financing availability noted for this listing.
The property is located at 13016 Mack Ave in Detroit, MI 48215, and has been part of the Mack avenue business district for more than 50 years. The business is described as maintaining community relationships, with closure timing referenced in the public remarks.
For buyers evaluating an operating grocery and convenience storefront, this asset may appeal due to its established community footprint and the reported consistency of lottery profits over the past three years, which are described as being tied to an 8pm closing time regardless of weekends and holidays. Interested parties should review the offering details and financial documentation provided through the lender-financing process to confirm all operating terms and performance.
The property is located at 13016 Mack Ave in Detroit, MI 48215, and has been part of the Mack avenue business district for more than 50 years. The business is described as maintaining community relationships, with closure timing referenced in the public remarks.
For buyers evaluating an operating grocery and convenience storefront, this asset may appeal due to its established community footprint and the reported consistency of lottery profits over the past three years, which are described as being tied to an 8pm closing time regardless of weekends and holidays. Interested parties should review the offering details and financial documentation provided through the lender-financing process to confirm all operating terms and performance.
Key Highlights
- Year built: 1940
- Storefront grocery and convenience operation with lottery sales
- Property has been part of the Mack Avenue business district for over 50 years
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
$54,423
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
6.81%
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%
$1,088,460
$1.1M
Cap Rate 7%
$777,471
$777.5K
Cap Rate 9%
$604,700
$604.7K
Market Conditions
NOI Build-Up for 4,124 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
$76.7K $18.60/SF
− Vacancy
−$4.1K −$1.00/SF
EGI
$72.6K $17.60/SF
− OpEx
−$18.1K −$4.40/SF
NOI
$54.4K $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%
$1,088,460
Cap Rate 7%
$777,471
Cap Rate 9%
$604,700
Alternative Uses
Best Use
Specialty Retail
$777.5K
$680.3K – $907.1K
NOI $54,423 @ 7.0% cap · market cap 6.81%
Second Best
Retail
$725.6K
$634.9K – $846.6K
NOI $50,795 @ 7.0% cap · market cap 6.36%
Theoretical Best
Office A
$909.8K
$796.1K – $1.06M
NOI $63,684 @ 7.0% cap · market cap 7.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
248
Businesses Nearby
17k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Citgo
Shops & Services
11,725 visits/mo
0.2 miles
Marathon
Shops & Services
4,989 visits/mo
0.3 miles
Demographics for 48215, MI
10,520
Population
6,044
Households
1.7
Avg Household Size
41
Median Age
19%
College-Educated
85%
High-School Grad
3.9 sq mi
ZIP Area
2,697
Density / Sq Mi
$33,741
Median Household Income
$36,728
Median Earnings
$897
Median Rent
$105,400
Median Home Value
Market
Vacancy Rate% for Retail in Detroit, MI
Questions? Ask Rey
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Similar Off Market Nearby
- Save A Lot — 4703 Conner St, Detroit, MI 48215
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - For sale storefront grocery and convenience operation with lottery sales and a long-standing local presence.
Where is this grocery and convenience store located?
The property is located at 13016 MACK AVE Detroit, MI.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Year built: 1940; Storefront grocery and convenience operation with lottery sales; Property has been part of the Mack Avenue business district for over 50 years
