Building Details

Year built 1890

Listing Agency: Key Realty One LLC - S. Dixie k***@gmail.com Show Phone

Listed By: Theresa Barton · License #6501328287 Show Phone

Added: Oct 9 Last Checked: Oct 10 at 7:06AM

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MLS# 50224467

Copyright © 2026 Southeastern Border Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This 1,674-square-foot grocery and convenience store at 145 Riley Street includes a café and kitchen, private restrooms, and vinyl and laminate flooring. An elevator serves the third-floor event and meeting area, providing space for gatherings in addition to the retail operation. The building dates to 1890, and the parcel contains 0.03 acres.

The property is in downtown Dundee, near the River Raisin, with parking behind the building. It is zoned Mixed Use, Commercial, and has public water service.

Key Highlights

• 1,674‑square‑foot grocery and convenience store
• Third‑floor event and meeting space served by an elevator
• Café/kitchen, private restrooms, and vinyl/laminate floors

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$22,599

Cap Rate

2.83%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$451,980 $452.0K

Cap Rate 7%

$322,843 $322.8K

Cap Rate 9%

$251,100 $251.1K

Market Conditions

NOI Build-Up for 1,674 SF

Gross rent

$40.2K $24.00/SF

− Vacancy

−$4.0K −$2.40/SF

EGI

$36.2K $21.60/SF

− OpEx

−$13.6K −$8.10/SF

NOI

$22.6K $13.50/SF

Area

Monroe County, MI

Vacancy

10.00%

Lease Rate

$24.00 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$451,980

Cap Rate 7%

$322,843

Cap Rate 9%

$251,100

Alternative Uses

Best Use

Mixed Use

$322.8K

$282.5K – $376.7K (±1% cap)

NOI $22,599 @ 7.0% cap · market cap 2.83%

Second Best

Specialty Retail

$232.9K

$203.8K – $271.8K (±1% cap)

NOI $16,305 @ 7.0% cap · market cap 2.04%

Theoretical Best

Warehouse

$1.73M

$1.51M – $2.01M (±1% cap)

NOI $120,856 @ 7.0% cap · market cap 15.11%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Riverside Deli Food Market Alpha Wireless Mobile Phone Store Radio Shack Dundee Electronics & Wireless Store

Suggested Use

Top Pick Real Estate Agency Electrical Service Nail Salon Bakery (Bike/Boat/Book/etc) Store Barber Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

223

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 48131, MI

8,126

Population

3,838

Households

2.1

Avg Household Size

37

Median Age

33%

College-Educated

95%

High-School Grad

50.1 sq mi

ZIP Area

162

Density / Sq Mi

$81,386

Median Household Income

$47,535

Median Earnings

$1,112

Median Rent

$246,300

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this grocery and convenience stores located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Grocery and convenience store - A café and kitchen, elevator, and upper-level meeting rooms support retail and gathering functions in one downtown property.

Where is this grocery and convenience store located?

The property is located at 145 Riley Street Dundee, MI.

What is the asking price?

The asking price for this property is $799,900.

What are key features of this property?

This property features: 1,674‑square‑foot grocery and convenience store; Third‑floor event and meeting space served by an elevator; Café/kitchen, private restrooms, and vinyl/laminate floors