Corner Storefront Retail
For Sale
$199,999
15040 E 9 Mile Road, Eastpointe, MI 48021
Located at a signalized corner with dedicated parking and signage opportunities.
Property Size1,492 SF
Price / SF$124
Days on Market87
Property Features for 15040 E 9 Mile Road
General Information
Standard status
Active
Size
1,492 SF
Total Parking Spaces
8
Property subtype
Business Opportunity
Site & Location
Corner Location
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$5,110
Amenities
dedicated parking
signage opportunities
Building Details
Building Size
1,492 SF
Year Built
1973
Buildings
1
Units
1
Listing Agency:
Coldwell Banker Professionals
(313) 409-6591
Listed By:
Anthony James
(313) 409-6591
Source:
Phgrealty
Added: Jun 3
Changed: Aug 28
Last Checked: Aug 28 at 6:34AM
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 storefront retail property includes an approximately 1,600 SF building constructed in 1973. The corner-site configuration provides prominent frontage at the signalized intersection of E. 9 Mile Road and Hayes Avenue, with dedicated parking and signage opportunities. The property is positioned for retail, office, service, medical, or owner-user occupancy.
The site is adjacent to established businesses and surrounded by dense residential neighborhoods. Access to major thoroughfares, including Gratiot Avenue, supports connectivity to the surrounding area, while a nearby bus stop adds another transportation option. The combination of customer-facing storefront exposure, on-site parking, and a commercial corridor setting gives the property a practical platform for a range of business uses.
The site is adjacent to established businesses and surrounded by dense residential neighborhoods. Access to major thoroughfares, including Gratiot Avenue, supports connectivity to the surrounding area, while a nearby bus stop adds another transportation option. The combination of customer-facing storefront exposure, on-site parking, and a commercial corridor setting gives the property a practical platform for a range of business uses.
Key Highlights
- Approximately 1,600 SF storefront building constructed in 1973
- Signalized corner at E. 9 Mile Road and Hayes Avenue
- Dedicated parking and signage opportunities
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
$11,827
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
5.91%
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%
$236,540
$236.5K
Cap Rate 7%
$168,957
$169.0K
Cap Rate 9%
$131,411
$131.4K
Market Conditions
NOI Build-Up for 1,600 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
$19.2K $12.00/SF
− Vacancy
−$2.3K −$1.44/SF
EGI
$16.9K $10.56/SF
− OpEx
−$5.1K −$3.17/SF
NOI
$11.8K $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%
$236,540
Cap Rate 7%
$168,957
Cap Rate 9%
$131,411
Alternative Uses
Best Use
Retail
$169.0K
$147.8K – $197.1K
NOI $11,827 @ 7.0% cap · market cap 5.91%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$299.5K
$262.1K – $349.5K
NOI $20,968 @ 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
562
Businesses Nearby
37k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 39%
Dining 37%
Electronics 13%
Beauty & Spa 11%
7-Eleven
Shops & Services
8,254 visits/mo
0.1 miles
Marathon
Shops & Services
6,350 visits/mo
0.5 miles
Tropical Smoothie Cafe
Dining
5,952 visits/mo
0.3 miles
Wingstop
Dining
5,107 visits/mo
0.3 miles
My Salon Suite
Beauty & Spa
4,118 visits/mo
0.3 miles
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 - Located at a signalized corner with dedicated parking and signage opportunities.
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: Approximately 1,600 SF storefront building constructed in 1973; Signalized corner at E. 9 Mile Road and Hayes Avenue; Dedicated parking and signage opportunities
