Corner Retail and Office
For Sale
Contact for pricing
15040 E 9 Mile Road, Eastpointe, MI 48021
Corner storefront with dedicated parking and strong visibility at a signalized intersection, suited for retail, office, or medical use.
Property Size1,492 SF
Price / SF$134.05
Days on Market70
Property Features for 15040 E 9 Mile Road
General Information
Standard status
Active
Size
1,492 SF
Total Parking Spaces
8
Property subtype
Special Purpose
Building Details
Year Built
1973
Buildings
1
Units
1
Listing Agency:
Coldwell Banker Professionals
(313) 409-6591
Listed By:
Anthony James
Source:
Crexi
Added: Jun 3
Changed: Aug 8
Last Checked: Aug 10 at 3:39PM
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 Coldwell Banker Professionals
Investment Insights
Based on property information with market context.
This corner commercial building offers approximately 1,492 SF of space designed for flexible storefront and office or service use. The property’s prominent street-facing presence is supported by dedicated parking and signage opportunities, providing a straightforward, tenant-ready option for an owner-user or operator looking for a visible commercial address. The building is positioned for convenient access to nearby thoroughfares, supporting day-to-day customer or patient visitation.
Located at the signalized intersection of E. 9 Mile Road and Hayes Avenue in Eastpointe, the site is described as highly visible with daily traffic and strong accessibility. The property is surrounded by dense residential neighborhoods and adjacent to established businesses, creating a consistent mix of nearby activity. Access to major routes including Gratiot Avenue can support visibility beyond the immediate intersection, and a nearby bus stop adds additional convenience for visitors.
With its corner location, storefront visibility, and off-street parking, the building is well suited to a range of practical occupancy types, including retail, office, service, and medical. Owner-users can leverage the prominent intersection setting for walk-in traffic, while brokers and investors can evaluate it as a multi-purpose commercial asset within a busy neighborhood corridor.
Located at the signalized intersection of E. 9 Mile Road and Hayes Avenue in Eastpointe, the site is described as highly visible with daily traffic and strong accessibility. The property is surrounded by dense residential neighborhoods and adjacent to established businesses, creating a consistent mix of nearby activity. Access to major routes including Gratiot Avenue can support visibility beyond the immediate intersection, and a nearby bus stop adds additional convenience for visitors.
With its corner location, storefront visibility, and off-street parking, the building is well suited to a range of practical occupancy types, including retail, office, service, and medical. Owner-users can leverage the prominent intersection setting for walk-in traffic, while brokers and investors can evaluate it as a multi-purpose commercial asset within a busy neighborhood corridor.
Key Highlights
- Corner commercial property built in 1973 at the signalized intersection of E. 9 Mile Road and Hayes Avenue
- Approximately 1,600 SF building with prominent storefront visibility and signage opportunities
- Dedicated parking for customer convenience
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
$11,029
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
5.51%
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%
$220,580
$220.6K
Cap Rate 7%
$157,557
$157.6K
Cap Rate 9%
$122,544
$122.5K
Market Conditions
NOI Build-Up for 1,492 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
$17.9K $12.00/SF
− Vacancy
−$2.1K −$1.44/SF
EGI
$15.8K $10.56/SF
− OpEx
−$4.7K −$3.17/SF
NOI
$11.0K $7.39/SF
Area
Macomb County, MI
Vacancy
12.00%
Lease Rate
$12.00 /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%
$220,580
Cap Rate 7%
$157,557
Cap Rate 9%
$122,544
Alternative Uses
Best Use
Retail
$157.6K
$137.9K – $183.8K
NOI $11,029 @ 7.0% cap · market cap 5.51%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$279.3K
$244.4K – $325.9K
NOI $19,553 @ 7.0% cap · market cap 9.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
570
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48021, MI
34,244
Population
14,124
Households
2.4
Avg Household Size
37
Median Age
15%
College-Educated
89%
High-School Grad
5.1 sq mi
ZIP Area
6,715
Density / Sq Mi
$58,196
Median Household Income
$35,836
Median Earnings
$1,335
Median Rent
$129,100
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Bellisario Florist — 23420 Gratiot Ave, Eastpointe, MI 48021
Frequently Asked Questions
What type of property is this?
Storefront property - Corner storefront with dedicated parking and strong visibility at a signalized intersection, suited for retail, office, or medical use.
Where is this storefront property located?
The property is located at 15040 E 9 Mile Road Eastpointe, MI.
What is the asking price?
The asking price for this property is $199,999.
What are key features of this property?
This property features: Corner commercial property built in 1973 at the signalized intersection of E. 9 Mile Road and Hayes Avenue; Approximately 1,600 SF building with prominent storefront visibility and signage opportunities; Dedicated parking for customer convenience
