Freestanding Storefront Retail
For Sale
$799,999
1385 West Main Street, Gaylord, MI 49735
Standalone retail property with roadway access and dedicated on-site parking along Main Street.
Property Size5,037 SF
Days on Market194
Property Features for 1385 West Main Street
General Information
Standard status
Active
Size
5,037 SF
Total Parking Spaces
29
Property subtype
Free Standing Building
Site & Location
Traffic Count
16,980 vehicles/day
Road Access
Yes
Building Details
Building Size
5,037 SF
Buildings
1
Properties For Sale
at 1385 West Main Street Contact us- Size
- 5,037 SF
- Lease Type
- NNN
1385 W Main Street
Listing Agency:
C3 CRE, LLC
(248) 220-1110
Listed By:
Corbin Yaldoo · License #6502431997
(248) 220-1110
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 30
Last Checked: Aug 30 at 1:51PM
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 storefront property includes an existing building and accompanying land, with 29 parking spaces serving the site. Direct curb access from the roadway supports convenient entry, while the existing improvements may be upgraded for a more conventional retail presentation. Ownership is also open to considering a ground lease structure.
The property is located at 1385 West Main Street in Gaylord, Michigan, along Main Street, which records approximately 16,980+ Vehicles Per Day. The site is positioned within a retail environment that includes national retail presence and may accommodate traditional retail, cannabis retail, owner-user, or redevelopment concepts as supported by the existing building and land.
The property is located at 1385 West Main Street in Gaylord, Michigan, along Main Street, which records approximately 16,980+ Vehicles Per Day. The site is positioned within a retail environment that includes national retail presence and may accommodate traditional retail, cannabis retail, owner-user, or redevelopment concepts as supported by the existing building and land.
Key Highlights
- Freestanding storefront building with accompanying land
- 29 parking spaces on site
- Direct curb access from the roadway
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
6.54%
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 6.54%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$6.90M
$6.04M – $8.05M
NOI $482,948 @ 7.0% cap · market cap 60.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16,980 VPD
Traffic count
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
335
Businesses Nearby
513k
Monthly Visits Nearby
Balanced
Demand for This Use
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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Similar Off Market Nearby
- Rosemary & Pepper Flower Co. — 261 S Wisconsin Ave, Gaylord, MI 49735
Frequently Asked Questions
What type of property is this?
Storefront property - Standalone retail property with roadway access and dedicated on-site parking along Main Street.
Where is this storefront property located?
The property is located at 1385 West Main Street Gaylord, MI.
What is the asking price?
The asking price for this property is $799,999.
What are key features of this property?
This property features: Freestanding storefront building with accompanying land; 29 parking spaces on site; Direct curb access from the roadway
