Profitable Commercial Building For
For Sale
$240,000
17423 Martin Road, Roseville, MI 48066
Commercial building with established business, ideal for owner-operator.
Property Size1,624 SF
Days on Market123
Property Features for 17423 Martin Road
General Information
Standard status
Active
Size
1,624 SF
Property subtype
Commercial
Zoning
Commercial
Taxes and HOA fees
Annual Taxes
$2,879
Building Details
Building Size
1,624 SF
Year Built
1955
Listing Agency:
DOBI Real Estate
(248) 525-2525
Listed By:
Patrick Jarjis
Source:
Irishhillsfivestarhomes
Added: Apr 24
Changed: Aug 23
Last Checked: Aug 23 at 10:29AM
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 DOBI Real Estate
Investment Insights
Based on property information with market context.
A commercial building with an established business is available for purchase. The business has been under the same family ownership for 18 years, with the sellers now retiring. The current operating hours are limited, presenting an opportunity to extend them by an additional 10 to 15 hours. The business benefits from a strong reputation and a substantial customer base. Additional income is generated through a lottery machine and an ATM. The sale includes both the business and the building. The location has a walk score of 62, indicating it is somewhat walkable, and a bike score of 49, indicating it is somewhat bikeable.
Key Highlights
- Profitable business with established reputation and large customer base included in sale.
- Commercial building included in sale.
- Opportunity to increase operating hours and revenue.
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
$21,283
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
8.87%
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%
$425,660
$425.7K
Cap Rate 7%
$304,043
$304.0K
Cap Rate 9%
$236,478
$236.5K
Market Conditions
NOI Build-Up for 1,624 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
$32.2K $19.80/SF
− Vacancy
−$3.8K −$2.33/SF
EGI
$28.4K $17.47/SF
− OpEx
−$7.1K −$4.37/SF
NOI
$21.3K $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%
$425,660
Cap Rate 7%
$304,043
Cap Rate 9%
$236,478
Alternative Uses
Best Use
Specialty Retail
$304.0K
$266.0K – $354.7K
NOI $21,283 @ 7.0% cap · market cap 8.87%
Second Best
Retail
$171.5K
$150.1K – $200.1K
NOI $12,005 @ 7.0% cap · market cap 5.00%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
499
Businesses Nearby
77k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 60%
Shops & Services 40%
McDonald's
Dining
27,507 visits/mo
0.3 miles
Speedway
Shops & Services
16,949 visits/mo
0.5 miles
Checkers
Dining
9,406 visits/mo
0.3 miles
7-Eleven
Shops & Services
6,717 visits/mo
0.3 miles
Tubby's
Dining
5,513 visits/mo
0.3 miles
Demographics for 48066, MI
47,789
Population
22,116
Households
2.2
Avg Household Size
39
Median Age
15%
College-Educated
90%
High-School Grad
9.9 sq mi
ZIP Area
4,827
Density / Sq Mi
$61,222
Median Household Income
$38,978
Median Earnings
$1,175
Median Rent
$142,700
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Commercial building with established business, ideal for owner-operator.
Where is this grocery and convenience store located?
The property is located at 17423 Martin Road Roseville, MI.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Profitable business with established reputation and large customer base included in sale.; Commercial building included in sale.; Opportunity to increase operating hours and revenue.
