Freestanding Building on Main
For Sale
$749,999
1385 W MAIN St, Gaylord, MI 49735
Freestanding building with parking, suitable for retail or cannabis.
Property Size5,037 SF
Lot Size0.69 Acres
Days on Market164
Property Features for 1385 W MAIN St
General Information
Standard status
Active
Size
5,037 SF
Lot size
0.69 Acres
Property subtype
Commercial
Building Details
Building Size
5,037 SF
Year Built
2023
Listing Agency:
C3 CRE, LLC
(248) 220-1110
Listed By:
Corbin Yaldoo · License #6502431997
(248) 220-1110
Source:
Elliman
Added: Mar 10
Changed: Aug 16
Last Checked: Aug 20 at 9:36AM
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 C3 CRE, LLC
Investment Insights
Based on property information with market context.
This freestanding building is available for sale and features a curb cut along the main road, accompanied by 29 parking spaces. Situated on heavily traveled Main Street, the location benefits from approximately 16,980+ vehicles per day, offering significant brand exposure and consistent daytime traffic. The building and land are suitable for traditional retail users looking to capitalize on the national retail synergy present in the marketplace. Current ownership is open to considering a ground lease and/or capital improvements to the existing building to enhance its appeal for traditional retail users. The site is also suitable for cannabis retail operators.
Key Highlights
- High traffic location on Main Street (16,980+ Vehicles Per Day) offering excellent brand exposure.
- 29 parking spaces and a curb cut along the main road.
- Suitable for traditional retail users, leveraging national retail synergy.
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
$52,289
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
6.97%
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%
$1,045,780
$1.0M
Cap Rate 7%
$746,986
$747.0K
Cap Rate 9%
$580,989
$581.0K
Market Conditions
NOI Build-Up for 5,037 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
$78.0K $15.48/SF
− Vacancy
−$3.3K −$0.65/SF
EGI
$74.7K $14.83/SF
− OpEx
−$22.4K −$4.45/SF
NOI
$52.3K $10.38/SF
Area
Otsego 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%
$1,045,780
Cap Rate 7%
$746,986
Cap Rate 9%
$580,989
Alternative Uses
Best Use
Retail
$747.0K
$653.6K – $871.5K
NOI $52,289 @ 7.0% cap · market cap 6.97%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$6.90M
$6.04M – $8.05M
NOI $482,948 @ 7.0% cap · market cap 64.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
335
Businesses Nearby
513k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 28%
Shops & Services 22%
Superstores 21%
Home Improvements & Furnishings 10%
Walmart
Superstores
90,180 visits/mo
0.5 miles
Hobby Lobby
Shops & Services
28,816 visits/mo
0.4 miles
Culver's
Dining
28,535 visits/mo
0.3 miles
Taco Bell
Dining
24,180 visits/mo
0.1 miles
The Home Depot
Home Improvements & Furnishings
23,006 visits/mo
0.3 miles
Demographics for 49735, MI
20,568
Population
11,551
Households
1.8
Avg Household Size
44
Median Age
27%
College-Educated
94%
High-School Grad
248.6 sq mi
ZIP Area
83
Density / Sq Mi
$69,050
Median Household Income
$39,813
Median Earnings
$876
Median Rent
$200,800
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?
Retail space - Freestanding building with parking, suitable for retail or cannabis.
Where is this retail space located?
The property is located at 1385 W MAIN St Gaylord, MI.
What is the asking price?
The asking price for this property is $749,999.
What are key features of this property?
This property features: High traffic location on Main Street (16,980+ Vehicles Per Day) offering excellent brand exposure.; 29 parking spaces and a curb cut along the main road.; Suitable for traditional retail users, leveraging national retail synergy.
