Remodeled Storefront Retail
For Sale
$379,000
9947 Brooklyn Road Unit SourceFi, Brooklyn, MI 49230
Remodeled commercial storefront building on a 0.80-acre lot with ample parking and high visibility on M-50.
Property Size3,360 SF
Lot Size0.80 Acres
Price / SF$112.80
Days on Market1775
Property Features for 9947 Brooklyn Road Unit SourceFi
General Information
Standard status
Active
Size
3,360 SF
Lot size
0.80 Acres
Property subtype
Industrial
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
newer furnace
central air conditioning
updated windows
functional garage bay with overhead door
Central Air
3
Tile
Shingle
Building Details
Year Built
1950
Buildings
1
Listing Agency:
Howard Hanna Real Estate Services-Adrian
(517) 403-4930
Listed By:
Kathy Zmijewski · License #BRKP.2024001978
(517) 403-4930
Source:
Xome
Added: Oct 14, 2021
Changed: Aug 23
Last Checked: Aug 23 at 2:45AM
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 Howard Hanna Real Estate Services-Adrian
Investment Insights
Based on property information with market context.
This remodeled storefront retail commercial building totals approximately 3,477+/- SF on a 0.80+/- acre lot with ample parking. The property includes a functional garage bay with an overhead door, supporting flexible back-of-house and service access. Recent upgrades include a newer furnace, central air conditioning, and updated windows.
The building is located just outside Brooklyn, Michigan, directly on M-50. It offers high visibility and is described as being only 10 minutes from the Michigan International Speedway.
The structure presents a practical setup for a business seeking street-front presence along M-50, with parking on site and a garage bay for operations or storage.
The building is located just outside Brooklyn, Michigan, directly on M-50. It offers high visibility and is described as being only 10 minutes from the Michigan International Speedway.
The structure presents a practical setup for a business seeking street-front presence along M-50, with parking on site and a garage bay for operations or storage.
Key Highlights
- Approximately 3,477+/- SF remodeled commercial building
- 0.80+/- acre lot with ample parking
- Directly on M‑50 with high visibility
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
$23,172
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
6.11%
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%
$463,440
$463.4K
Cap Rate 7%
$331,029
$331.0K
Cap Rate 9%
$257,467
$257.5K
Market Conditions
NOI Build-Up for 3,360 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
$40.3K $12.00/SF
− Vacancy
−$7.2K −$2.15/SF
EGI
$33.1K $9.85/SF
− OpEx
−$9.9K −$2.96/SF
NOI
$23.2K $6.90/SF
Area
Jackson County, MI
Vacancy
17.90%
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%
$463,440
Cap Rate 7%
$331,029
Cap Rate 9%
$257,467
Alternative Uses
Best Use
Retail
$331.0K
$289.7K – $386.2K
NOI $23,172 @ 7.0% cap · market cap 6.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$536.4K
$469.3K – $625.8K
NOI $37,546 @ 7.0% cap · market cap 9.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
42
Businesses Nearby
18k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Wesco
Shops & Services
18,435 visits/mo
0.3 miles
Demographics for 49230, MI
10,364
Population
6,108
Households
1.7
Avg Household Size
52
Median Age
27%
College-Educated
96%
High-School Grad
64.0 sq mi
ZIP Area
162
Density / Sq Mi
$81,052
Median Household Income
$52,448
Median Earnings
$1,116
Median Rent
$252,800
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Remodeled commercial storefront building on a 0.80-acre lot with ample parking and high visibility on M-50.
Where is this storefront property located?
The property is located at 9947 Brooklyn Road Unit SourceFi Brooklyn, MI.
What is the asking price?
The asking price for this property is $379,000.
What are key features of this property?
This property features: Approximately 3,477+/- SF remodeled commercial building; 0.80+/- acre lot with ample parking; Directly on M‑50 with high visibility
