Commercial Land with B-1
For Sale
$450,000
610 E Grand Blanc Road, Grand Blanc, MI 48439
Commercially zoned land with city water and sewer hookups, plus access through a circle driveway.
Property Size2,692 SF
Days on Market41
Property Features for 610 E Grand Blanc Road
General Information
Standard status
Active
Size
2,692 SF
Property subtype
Commercial
Zoning
Commercial
Taxes and HOA fees
Annual Taxes
$9,757
Building Details
Building Size
2,692 SF
Year Built
1964
Listing Agency:
America's Premiere Realty Inc
(810) 715-2390
Listed By:
Karen Cooper Green · License #6501330634
Source:
Erareardonrealty
Added: Jul 21
Changed: Aug 30
Last Checked: Aug 30 at 7:28AM
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 America's Premiere Realty Inc
Investment Insights
Based on property information with market context.
This commercial land offering includes 2.66 acres across two parcels, with existing city water and sewer hookups. The property is designated B-1 Neighborhood Business District, a commercial zoning classification that permits medical offices, funeral homes, florists, banks, and other listed uses. On-site parking and a circle driveway support access and circulation.
Located at 610 E Grand Blanc Road in Grand Blanc, the property is near I-75 and US 23, with access to surrounding amenities. Detroit, Lansing, and Saginaw are each described as approximately one hour away. The site’s commercial zoning and existing municipal utility connections support consideration for a range of business or redevelopment applications allowed under the applicable district regulations.
Located at 610 E Grand Blanc Road in Grand Blanc, the property is near I-75 and US 23, with access to surrounding amenities. Detroit, Lansing, and Saginaw are each described as approximately one hour away. The site’s commercial zoning and existing municipal utility connections support consideration for a range of business or redevelopment applications allowed under the applicable district regulations.
Key Highlights
- 2.66 acres across two commercial parcels
- B‑1 Neighborhood Business District zoning
- Existing city water and sewer hookups
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
$29,656
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
6.59%
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%
$593,120
$593.1K
Cap Rate 7%
$423,657
$423.7K
Cap Rate 9%
$329,511
$329.5K
Market Conditions
NOI Build-Up for 2,692 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
$45.9K $17.04/SF
− Vacancy
−$6.3K −$2.35/SF
EGI
$39.5K $14.69/SF
− OpEx
−$9.9K −$3.67/SF
NOI
$29.7K $11.02/SF
Area
Genesee County, MI
Vacancy
13.80%
Lease Rate
$17.04 /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%
$593,120
Cap Rate 7%
$423,657
Cap Rate 9%
$329,511
Alternative Uses
Best Use
Office B
$423.7K
$370.7K – $494.3K
NOI $29,656 @ 7.0% cap · market cap 6.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$566.5K
$495.7K – $660.9K
NOI $39,653 @ 7.0% cap · market cap 8.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
434
Businesses Nearby
Explore this area
Business Placement
Demographics for 48439, MI
51,719
Population
22,101
Households
2.3
Avg Household Size
41
Median Age
43%
College-Educated
96%
High-School Grad
54.5 sq mi
ZIP Area
949
Density / Sq Mi
$88,505
Median Household Income
$47,506
Median Earnings
$1,035
Median Rent
$250,800
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Commercially zoned land with city water and sewer hookups, plus access through a circle driveway.
Where is this commercial land located?
The property is located at 610 E Grand Blanc Road Grand Blanc, MI.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 2.66 acres across two commercial parcels; B‑1 Neighborhood Business District zoning; Existing city water and sewer hookups
