Eastpointe Commercial Space For
For Sale
$84,900
17503 Stephens Drive, Eastpointe, MI 48021
Updated commercial space in Eastpointe with flexible financing options.
Property Size760 SF
Days on Market163
Property Features for 17503 Stephens Drive
General Information
Standard status
Active
Size
760 SF
Property subtype
Commercial
Zoning
Commercial
Taxes and HOA fees
Annual Taxes
$3,451
Building Details
Building Size
760 SF
Year Built
1957
Listing Agency:
Keller Williams Somerset
Listed By:
James T Silver · License #6502374648
(248) 530-7292
Source:
Thebrokeragehouse
Added: Mar 26
Changed: Sep 3
Last Checked: Sep 1 at 9:25PM
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 Keller Williams Somerset
Investment Insights
Based on property information with market context.
This updated and clean commercial space is situated on a corner lot in a convenient Eastpointe location. It is located near Gratiot Avenue with quick access to I-94, offering accessibility for clients, employees, and deliveries. The interior is well maintained and almost move-in ready, featuring a half bathroom and a versatile layout suitable for a variety of commercial uses. This is a bank-owned property with possible seller financing, with all terms subject to bank approval. It is ideal for owner-users or investors seeking a clean space, a strong location, and flexible financing options.
Key Highlights
- Convenient Eastpointe location on a corner lot with quick access to I‑94 and Gratiot Ave.
- Well‑maintained and almost move‑in ready interior.
- Versatile layout suitable for a variety of commercial uses.
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
$5,618
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
6.62%
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%
$112,360
$112.4K
Cap Rate 7%
$80,257
$80.3K
Cap Rate 9%
$62,422
$62.4K
Market Conditions
NOI Build-Up for 760 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
$9.1K $12.00/SF
− Vacancy
−$1.1K −$1.44/SF
EGI
$8.0K $10.56/SF
− OpEx
−$2.4K −$3.17/SF
NOI
$5.6K $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%
$112,360
Cap Rate 7%
$80,257
Cap Rate 9%
$62,422
Alternative Uses
Best Use
Retail
$80.3K
$70.2K – $93.6K
NOI $5,618 @ 7.0% cap · market cap 6.62%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$142.3K
$124.5K – $166.0K
NOI $9,960 @ 7.0% cap · market cap 11.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
523
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 - Updated commercial space in Eastpointe with flexible financing options.
Where is this storefront property located?
The property is located at 17503 Stephens Drive Eastpointe, MI.
What is the asking price?
The asking price for this property is $84,900.
What are key features of this property?
This property features: Convenient Eastpointe location on a corner lot with quick access to I‑94 and Gratiot Ave.; Well‑maintained and almost move‑in ready interior.; Versatile layout suitable for a variety of commercial uses.
