Freestanding Corner Retail
For Sale
$1,148,233
6026 Lapeer Road, Burton, MI 48509
C-2 commercial zoning, a drive-up window, and signalized-intersection access are in place.
Property Size8,456 SF
Lot Size1.70 Acres
Price / SF$135.79
Days on Market90
Property Features for 6026 Lapeer Road
General Information
Standard status
Active
Size
8,456 SF
Total Parking Spaces
90
Lot size
1.70 Acres
Property subtype
Retail
Zoning
C-2
Site & Location
Corner Location
Yes
Drive-Thru
Yes
Building Details
Year Built
1999
Buildings
1
Listing Agency:
(248) 351-2051
Listed By:
Dave Long
(248) 351-2051
Source:
Cbre
Added: Jun 2
Changed: Aug 30
Last Checked: Aug 30 at 12:49AM
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 Dave Long
Investment Insights
Based on property information with market context.
This freestanding storefront property was constructed in 1999 and includes a drive-up window. The building occupies a corner parcel within a 1.7-acre site and is associated with C-2 Commercial zoning.
The property is positioned at a signalized intersection in Burton, Michigan, with street exposure from its corner setting. On-site parking includes 90 spaces, providing substantial customer and employee parking capacity for a range of retail configurations.
The property is positioned at a signalized intersection in Burton, Michigan, with street exposure from its corner setting. On-site parking includes 90 spaces, providing substantial customer and employee parking capacity for a range of retail configurations.
Key Highlights
- Freestanding storefront building constructed in 1999
- 1.7‑acre corner parcel
- 90 parking spaces
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
$87,781
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
7.64%
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%
$1,755,620
$1.8M
Cap Rate 7%
$1,254,014
$1.3M
Cap Rate 9%
$975,344
$975.3K
Market Conditions
NOI Build-Up for 8,456 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
$130.9K $15.48/SF
− Vacancy
−$5.5K −$0.65/SF
EGI
$125.4K $14.83/SF
− OpEx
−$37.6K −$4.45/SF
NOI
$87.8K $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%
$1,755,620
Cap Rate 7%
$1,254,014
Cap Rate 9%
$975,344
Alternative Uses
Best Use
Retail
$1.25M
$1.10M – $1.46M
NOI $87,781 @ 7.0% cap · market cap 7.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.78M
$1.56M – $2.08M
NOI $124,556 @ 7.0% cap · market cap 10.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
146
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48509, MI
9,568
Population
4,166
Households
2.3
Avg Household Size
44
Median Age
16%
College-Educated
91%
High-School Grad
8.8 sq mi
ZIP Area
1,087
Density / Sq Mi
$64,385
Median Household Income
$35,417
Median Earnings
$1,061
Median Rent
$127,700
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.
Frequently Asked Questions
What type of property is this?
Storefront property - C-2 commercial zoning, a drive-up window, and signalized-intersection access are in place.
Where is this storefront property located?
The property is located at 6026 Lapeer Road Burton, MI.
What is the asking price?
The asking price for this property is $1,148,233.
What are key features of this property?
This property features: Freestanding storefront building constructed in 1999; 1.7‑acre corner parcel; 90 parking spaces
