Corner Storefront
For Sale
$199,999
15040 E 9 Mile Road, Eastpointe, MI 48021
COMMERCIAL - Eastpointe, MI
Property Size1,492 SF
Lot Size0.12 Acres
Price / SF$134.05
Days on Market92
Property Features for 15040 E 9 Mile Road
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Parking
8
Interior features
Broadband
Subdivision
HALFWAY LITTLE FARMS
Elementary school district
Eastpointe
Middle school district
Eastpointe
High school district
Eastpointe
Directions
GRATIOT TO 9 MILE
Standard status
Active
APN
02-14-31-101-016
Size
1,492 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SEE TITLE
Tax Annual Amount
5110
Legal Description
SEE TITLE
Utilities
Utilities
Cable Available
Heating system
Forced Air
Building Details
Year built
1973
Number of units
1
Building materials
Brick
Listing Agency:
Coldwell Banker Professionals
(734) 930-0200
Listed By:
Anthony James
(313) 409-6591
Added: Jun 3
Changed: Aug 4
Last Checked: Sep 2 at 6:06PM
MLS# 26026713
Copyright © 2026 Michigan Regional Information Center, LLC. 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 brick storefront property contains 1,492 square feet and was built in 1973. The building includes a bathroom, forced-air heating, broadband, and cable availability. Dedicated parking and signage opportunities support customer-facing operations, while the storefront configuration provides a practical base for commercial occupancy.
The property occupies a corner at the signalized intersection of E. 9 Mile Road and Hayes Avenue in Eastpointe. Established businesses and dense residential neighborhoods surround the site, with a nearby bus stop and access to Gratiot Avenue providing additional connectivity. The address is 15040 E 9 Mile Road, Eastpointe, MI 48021.
The property occupies a corner at the signalized intersection of E. 9 Mile Road and Hayes Avenue in Eastpointe. Established businesses and dense residential neighborhoods surround the site, with a nearby bus stop and access to Gratiot Avenue providing additional connectivity. The address is 15040 E 9 Mile Road, Eastpointe, MI 48021.
Key Highlights
- 1,492‑square‑foot brick storefront building constructed in 1973
- Corner position at the signalized intersection of 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
$11,029
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
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Bellisario Florist — 23420 Gratiot Ave, Eastpointe, MI 48021
Frequently Asked Questions
What type of property is this?
Storefront property - Brick commercial building with dedicated parking, signage opportunities, and access to established business and residential surroundings.
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: 1,492‑square‑foot brick storefront building constructed in 1973; Corner position at the signalized intersection of E. 9 Mile Road and Hayes Avenue; Dedicated parking and signage opportunities
