13016 MACK AVE, Detroit, MI 48215
For sale storefront grocery and convenience operation with lottery sales and a long-standing local presence.
- Added:
- Jun 24, 2023
- Days on Market:
- 1094
- Last Refresh:
- Jun 20 at 9:12 am
Property Features for 13016 MACK AVE
General Information
- Standard status
- Active
- Size
- 4,124 SF
- Property subtype
- Business for Sale, Retail
Building Details
- Year Built
- 1940
Listing agent Phillip VanBuren License #6501335319
Listing office Home Negotiators LLC
Listing date Jun 24, 2023
Source Crexi
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
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
- Revenues reported as consistent with over $100,000 in annual lottery profits for the past 3 years
- Lender financing available
Overview
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.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $76.7k | $18.60 |
| − Vacancy | −$4.1k | −$1.00 |
| EGI | $72.6k | $17.60 |
| − OpEx | −$18.1k | −$4.40 |
| NOI | $54.4k | $13.20 |
Alternative Uses
Current Use by Public Records
Similar Places Nearby
- Save A Lot — 4703 Conner St, Detroit, MI 48215
Location Insight
- Map
- Local Demand
- City
- Detroit
- County
- Wayne
- State
- Michigan
- Longitude
- -82.9613631
- Latitude
- 42.3844671
