Masonry Flex/Light Industrial
For Sale
$325,000
1357 S Gratiot Ave, Clinton Township, MI 48036
Standalone flex building with updated office, overhead doors, and Gratiot frontage for a range of light industrial and service uses.
Property Size3,471 SF
Lot Size0.50 Acres
Price / SF$93.63
Days on Market47
Property Features for 1357 S Gratiot Ave
General Information
Standard status
Active
Size
3,471 SF
Lot size
0.50 Acres
Property subtype
Commercial
Zoning
B-3
Site & Location
Traffic Count
16,000 vehicles/day
Road Access
Yes
Additional Details
Drive-In Doors
2
Building Details
Year Built
1963
Listing Agency:
M77 LLC
(586) 876-1140
Listed By:
Brock Bean · License #6501372650
(586) 876-1140
Source:
Elliman
Added: Jun 21
Changed: Jul 10
Last Checked: Aug 6 at 7:46AM
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 M77 LLC
Investment Insights
Based on property information with market context.
1357 S Gratiot Avenue is a stand-alone masonry flex/light industrial building on approximately 0.50 acres. The property includes an updated office area totaling approximately 1,271 SF, along with shop/flex space designed to support day-to-day operations. Two overhead doors provide loading or service access, and the site includes surface parking.
The building is positioned along Gratiot Avenue in Clinton Township with direct frontage on a well-traveled commercial corridor. Public remarks note nearby traffic counts ranging from approximately 15,700 to 16,000+ vehicles per day depending on collection point. The half-acre site also offers space that may accommodate additional parking, yard storage, or future expansion, subject to municipal approval.
Zoned B-3 General Business District, the property may support a variety of commercial, service, contractor, automotive, showroom, storage, and light industrial uses, subject to buyer verification with Clinton Township. The real estate-only sale makes it well-suited for owner-users and investors seeking a functional flex setup with visibility along Gratiot. Buyers should verify all building measurements, zoning and permitted uses, taxes, parcel information, utilities, and property condition.
The building is positioned along Gratiot Avenue in Clinton Township with direct frontage on a well-traveled commercial corridor. Public remarks note nearby traffic counts ranging from approximately 15,700 to 16,000+ vehicles per day depending on collection point. The half-acre site also offers space that may accommodate additional parking, yard storage, or future expansion, subject to municipal approval.
Zoned B-3 General Business District, the property may support a variety of commercial, service, contractor, automotive, showroom, storage, and light industrial uses, subject to buyer verification with Clinton Township. The real estate-only sale makes it well-suited for owner-users and investors seeking a functional flex setup with visibility along Gratiot. Buyers should verify all building measurements, zoning and permitted uses, taxes, parcel information, utilities, and property condition.
Key Highlights
- 3,471 SF stand‑alone masonry flex/light industrial building on approx. 0.50 acres (built in 1963)
- Updated office area approx. 1,271 SF plus shop/flex space
- Two overhead doors for flex and light industrial access
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
$18,716
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
5.76%
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%
$374,320
$374.3K
Cap Rate 7%
$267,371
$267.4K
Cap Rate 9%
$207,956
$208.0K
Market Conditions
NOI Build-Up for 3,471 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
$28.3K $8.16/SF
− Vacancy
−$1.6K −$0.46/SF
EGI
$26.7K $7.70/SF
− OpEx
−$8.0K −$2.31/SF
NOI
$18.7K $5.39/SF
Area
Macomb County, MI
Vacancy
5.60%
Lease Rate
$8.16 /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%
$374,320
Cap Rate 7%
$267,371
Cap Rate 9%
$207,956
Alternative Uses
Best Use
Flex RnD
$563.2K
$492.8K – $657.1K
NOI $39,423 @ 7.0% cap · market cap 12.13%
Second Best
Industrial
$267.4K
$234.0K – $311.9K
NOI $18,716 @ 7.0% cap · market cap 5.76%
Theoretical Best
Specialty Retail
$649.8K
$568.6K – $758.1K
NOI $45,488 @ 7.0% cap · market cap 14.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
16,000 VPD
Traffic count
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
318
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48036, MI
22,517
Population
9,855
Households
2.3
Avg Household Size
41
Median Age
22%
College-Educated
93%
High-School Grad
8.3 sq mi
ZIP Area
2,713
Density / Sq Mi
$65,109
Median Household Income
$36,730
Median Earnings
$1,018
Median Rent
$201,000
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?
Flex space - Standalone flex building with updated office, overhead doors, and Gratiot frontage for a range of light industrial and service uses.
Where is this flex space located?
The property is located at 1357 S Gratiot Ave Clinton Township, MI.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 3,471 SF stand‑alone masonry flex/light industrial building on approx. 0.50 acres (built in 1963); Updated office area approx. 1,271 SF plus shop/flex space; Two overhead doors for flex and light industrial access
