Turn-Key Liquor Store
For Sale
Contact for pricing
14201 Harper Ave, Detroit, MI 48213
Operating liquor store for sale, license included.
Property Size4,617 SF
Price / SF$147.28
Days on Market194
Property Features for 14201 Harper Ave
General Information
Standard status
Active
Size
4,617 SF
Property subtype
Retail
Zoning
B4
Building Details
Year Built
1952
Stories
1
Listing Agency:
Signature Associates Warren
(248) 359-0615
Listed By:
Joe Stack · License #MI
Source:
Crexi
Added: Feb 10
Changed: Aug 19
Last Checked: Aug 22 at 2:39PM
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 Signature Associates Warren
Investment Insights
Based on property information with market context.
This is a turn-key liquor store opportunity. The sale includes a liquor license. The property has a size of 4,617 square feet. It is located on Harper Avenue in Detroit, Michigan.
Key Highlights
- Turn‑key liquor store ready for immediate operation.
- Liquor license included.
- Established, operational business.
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
$60,929
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
8.96%
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%
$1,218,580
$1.2M
Cap Rate 7%
$870,414
$870.4K
Cap Rate 9%
$676,989
$677.0K
Market Conditions
NOI Build-Up for 4,617 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
$85.9K $18.60/SF
− Vacancy
−$4.6K −$1.00/SF
EGI
$81.2K $17.60/SF
− OpEx
−$20.3K −$4.40/SF
NOI
$60.9K $13.20/SF
Area
Detroit, MI
Vacancy
5.40%
Lease Rate
$18.60 /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%
$1,218,580
Cap Rate 7%
$870,414
Cap Rate 9%
$676,989
Alternative Uses
Best Use
Specialty Retail
$870.4K
$761.6K – $1.02M
NOI $60,929 @ 7.0% cap · market cap 8.96%
Second Best
Retail
$812.4K
$710.8K – $947.8K
NOI $56,867 @ 7.0% cap · market cap 8.36%
Theoretical Best
Office A
$1.02M
$891.2K – $1.19M
NOI $71,297 @ 7.0% cap · market cap 10.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
264
Businesses Nearby
29k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 58%
Shops & Services 39%
Electronics 3%
Little Caesars Pizza
Dining
8,082 visits/mo
0.1 miles
Marathon
Shops & Services
6,023 visits/mo
0.4 miles
Family Dollar
Shops & Services
5,401 visits/mo
0.0 miles
KFC
Dining
4,812 visits/mo
0.1 miles
Krispy Krunchy Chicken
Dining
3,933 visits/mo
0.4 miles
Demographics for 48213, MI
19,088
Population
11,365
Households
1.7
Avg Household Size
39
Median Age
7%
College-Educated
82%
High-School Grad
6.5 sq mi
ZIP Area
2,937
Density / Sq Mi
$33,755
Median Household Income
$24,765
Median Earnings
$837
Median Rent
$52,100
Median Home Value
Market
Vacancy Rate% for Retail in Detroit, MI
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Operating liquor store for sale, license included.
Where is this grocery and convenience store located?
The property is located at 14201 Harper Ave Detroit, MI.
What is the asking price?
The asking price for this property is $680,000.
What are key features of this property?
This property features: Turn‑key liquor store ready for immediate operation.; Liquor license included.; Established, operational business.
