Liquor and Grocery Store with Real
For Sale
Contact for pricing
131 E GRAND RIVER AVE, Fowlerville, MI 48836
Operate an established liquor and grocery store with retail frontage on a primary downtown corridor.
Property Size4,222 SF
Price / SF$343.44
Days on Market54
Property Features for 131 E GRAND RIVER AVE
General Information
Standard status
Active
Size
4,222 SF
Property subtype
Retail
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$122,002
Building Details
Year Built
1932
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Ellsbury Group
(260) 615-9248
Listed By:
Lane Moser · License #MI 6501433695
Source:
Crexi
Added: Jun 18
Changed: Aug 8
Last Checked: Aug 9 at 5:39AM
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 Ellsbury Group
Investment Insights
Based on property information with market context.
The property at 131 E Grand River Ave includes 1,262 square feet of retail building space and 48 feet of frontage along Grand River Avenue. It is currently operating as Save-On Family Foods, an established liquor and grocery store serving the Fowlerville community for more than 90 years. The sale is structured to include the operating business and the real estate, with existing in-store inventory (approximately $300,000) included at additional cost separate from the asking price. Reported financial results include $1,144,916 in total revenues for FY 2025, reflecting 34% year-over-year growth, and net income of $122,049. The listing also cites an 8.42% cap rate on the asking price, with revenue sources including retail sales, lottery commissions, ATM services, and ancillary income.
The location is in the heart of downtown Fowlerville and positioned along the area’s primary retail corridor. The property is described as having strong daily traffic exposure and visibility on Grand River Avenue, with access noted as minutes from I-96 (Exit 129) and M-52. The downtown corridor is supported by the Fowlerville Downtown Development Authority (FDDA).
This offering is well suited for buyers seeking an operating convenience-minded retail business with real estate included. With long-standing community presence, multiple revenue streams, and dedicated retail frontage along a downtown shopping line, the property provides a practical platform for an owner-operator or qualified retail investor looking to acquire an established storefront operation.
The location is in the heart of downtown Fowlerville and positioned along the area’s primary retail corridor. The property is described as having strong daily traffic exposure and visibility on Grand River Avenue, with access noted as minutes from I-96 (Exit 129) and M-52. The downtown corridor is supported by the Fowlerville Downtown Development Authority (FDDA).
This offering is well suited for buyers seeking an operating convenience-minded retail business with real estate included. With long-standing community presence, multiple revenue streams, and dedicated retail frontage along a downtown shopping line, the property provides a practical platform for an owner-operator or qualified retail investor looking to acquire an established storefront operation.
Key Highlights
- Established Save‑On Family Foods liquor and grocery store in downtown Fowlerville, MI, serving the community for 90+ years
- 1,262 SF building with 48 ft of frontage along Grand River Avenue (primary retail corridor)
- FY 2025 revenues of $1,144,916 and net income of $122,049; 8.42% cap rate on the asking price
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
$46,263
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
3.19%
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%
$925,260
$925.3K
Cap Rate 7%
$660,900
$660.9K
Cap Rate 9%
$514,033
$514.0K
Market Conditions
NOI Build-Up for 4,222 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
$63.3K $15.00/SF
− Vacancy
−$1.6K −$0.39/SF
EGI
$61.7K $14.61/SF
− OpEx
−$15.4K −$3.65/SF
NOI
$46.3K $10.96/SF
Area
Livingston County, MI
Vacancy
2.60%
Lease Rate
$15.00 /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%
$925,260
Cap Rate 7%
$660,900
Cap Rate 9%
$514,033
Alternative Uses
Best Use
Specialty Retail
$660.9K
$578.3K – $771.1K
NOI $46,263 @ 7.0% cap · market cap 3.19%
Second Best
Retail
$623.9K
$545.9K – $727.9K
NOI $43,675 @ 7.0% cap · market cap 3.01%
Theoretical Best
Healthcare Medical
$672.5K
$588.4K – $784.6K
NOI $47,075 @ 7.0% cap · market cap 3.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
119
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 48836, MI
14,183
Population
5,614
Households
2.5
Avg Household Size
39
Median Age
21%
College-Educated
94%
High-School Grad
94.0 sq mi
ZIP Area
151
Density / Sq Mi
$86,317
Median Household Income
$47,510
Median Earnings
$1,068
Median Rent
$262,700
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?
Grocery and convenience store - Operate an established liquor and grocery store with retail frontage on a primary downtown corridor.
Where is this grocery and convenience store located?
The property is located at 131 E GRAND RIVER AVE Fowlerville, MI.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Established Save‑On Family Foods liquor and grocery store in downtown Fowlerville, MI, serving the community for 90+ years; 1,262 SF building with 48 ft of frontage along Grand River Avenue (primary retail corridor); FY 2025 revenues of $1,144,916 and net income of $122,049; 8.42% cap rate on the asking price
