Eastpointe Commercial Building For
For Sale
Contact for pricing
15801 E 10 Mile Rd, Eastpointe, MI 48021
Commercial building suitable for restaurant or retail use in Eastpointe.
Property Size652 SF
Price / SF$275
Days on Market262
Property Features for 15801 E 10 Mile Rd
General Information
Standard status
Active
Size
652 SF
Property subtype
Hospitality, Retail
Building Details
Buildings
1
Stories
1
Listing Agency:
@properties
Listed By:
Michael Stroud · License #6501376693
(248) 406-0620
Source:
Crexi
Added: Jan 6
Changed: Sep 17
Last Checked: Sep 24 at 10:43AM
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 @properties
Investment Insights
Based on property information with market context.
This 652-square-foot commercial building presents an opportunity for potential business ventures. The property is located across from Eastpointe Schools athletic fields and is surrounded by a dense, vibrant neighborhood. It is suitable for reopening as a soft-serve ice cream shop or converting into a less seasonal quick-serve food operation. The property is located in Eastpointe, Michigan.
Key Highlights
- Potential for immediate cash flow generation.
- Suitable for soft‑serve ice cream or quick‑serve food operation.
- Located across from Eastpointe Schools athletic fields.
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
$8,545
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
4.75%
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%
$170,900
$170.9K
Cap Rate 7%
$122,071
$122.1K
Cap Rate 9%
$94,944
$94.9K
Market Conditions
NOI Build-Up for 652 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
$12.9K $19.80/SF
− Vacancy
−$1.5K −$2.33/SF
EGI
$11.4K $17.47/SF
− OpEx
−$2.8K −$4.37/SF
NOI
$8.5K $13.11/SF
Area
Macomb County, MI
Vacancy
11.75%
Lease Rate
$19.80 /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%
$170,900
Cap Rate 7%
$122,071
Cap Rate 9%
$94,944
Alternative Uses
Best Use
Specialty Retail
$122.1K
$106.8K – $142.4K
NOI $8,545 @ 7.0% cap · market cap 4.75%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
529
Businesses Nearby
92k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 54%
Dining 30%
Superstores 16%
Dollar Tree
Shops & Services
18,315 visits/mo
0.4 miles
Big Lots
Superstores
14,843 visits/mo
0.0 miles
Little Caesars Pizza
Dining
13,780 visits/mo
0.1 miles
Olive Garden
Dining
12,676 visits/mo
0.4 miles
BP
Shops & Services
9,570 visits/mo
0.5 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- BOB'S BBQ & CATERING — 15852 Semrau Ave, Eastpointe, MI 48021
- Olive Tree Catering — 25650 Gratiot Ave, Roseville, MI 48066
Frequently Asked Questions
What type of property is this?
Restaurant - Commercial building suitable for restaurant or retail use in Eastpointe.
Where is this restaurant located?
The property is located at 15801 E 10 Mile Rd Eastpointe, MI.
What is the asking price?
The asking price for this property is $179,950.
What are key features of this property?
This property features: Potential for immediate cash flow generation.; Suitable for soft‑serve ice cream or quick‑serve food operation.; Located across from Eastpointe Schools athletic fields.
