Live-Work Property with
For Sale
$179,000
178 Northbound Gratiot Ave, Mount Clemens, MI 48043
Commercial property combining an established cleaning operation, existing equipment, and on-site parking with live-work flexibility.
Property Size3,651 SF
Price / SF$49.03
Days on Market9
Property Features for 178 Northbound Gratiot Ave
General Information
Standard status
Active
Size
3,651 SF
Property subtype
Retail
Zoning
GC
Additional Details
Business Included
Yes
Pylon Signage
Yes
Building Details
Building Size
3,651 SF
Listing Agency:
Anton, Sowerby & Associates, Inc.
(586) 918-1956
Listed By:
Susan Blanchard · License #6501370698
(586) 918-1956
Source:
Cpix.resimplifi
Added: Aug 14
Changed: Aug 22
Last Checked: Aug 22 at 5:20AM
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 Anton, Sowerby & Associates, Inc.
Investment Insights
Based on property information with market context.
Located at 178 Northbound Gratiot Ave in Mount Clemens, Michigan, this live-work property offers 3,651 of property size within a GC-zoned commercial setting. The improvements currently support an established dry cleaning and laundry business, with existing equipment in place for continued operation.
The property includes on-site parking and pylon signage, providing identifiable roadside presence for the current business or a future commercial use. Its live-work configuration allows an owner-operator to combine business activities with on-site living, while the existing layout may also support leasing or reuse for other commercial purposes.
The property includes on-site parking and pylon signage, providing identifiable roadside presence for the current business or a future commercial use. Its live-work configuration allows an owner-operator to combine business activities with on-site living, while the existing layout may also support leasing or reuse for other commercial purposes.
Key Highlights
- Live‑work property at 178 Northbound Gratiot Ave, Mount Clemens, MI 48043
- 3,651 property size in a GC‑zoned commercial setting
- Established dry cleaning and laundry business with existing equipment
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
$12,569
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
7.02%
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%
$251,380
$251.4K
Cap Rate 7%
$179,557
$179.6K
Cap Rate 9%
$139,656
$139.7K
Market Conditions
NOI Build-Up for 3,651 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
$21.9K $6.00/SF
− Vacancy
−$5.1K −$1.41/SF
EGI
$16.8K $4.59/SF
− OpEx
−$4.2K −$1.15/SF
NOI
$12.6K $3.44/SF
Area
Macomb County, MI
Vacancy
23.50%
Lease Rate
$6.00 /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%
$251,380
Cap Rate 7%
$179,557
Cap Rate 9%
$139,656
Alternative Uses
Best Use
Mixed Use
$619.6K
$542.2K – $722.9K
NOI $43,374 @ 7.0% cap · market cap 24.23%
Second Best
Retail
$385.5K
$337.4K – $449.8K
NOI $26,988 @ 7.0% cap · market cap 15.08%
Theoretical Best
Specialty Retail
$683.5K
$598.1K – $797.5K
NOI $47,847 @ 7.0% cap · market cap 26.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,185
Businesses Nearby
Explore this area
Business Placement
Demographics for 48043, MI
15,665
Population
7,059
Households
2.2
Avg Household Size
41
Median Age
18%
College-Educated
88%
High-School Grad
4.1 sq mi
ZIP Area
3,821
Density / Sq Mi
$57,315
Median Household Income
$37,683
Median Earnings
$896
Median Rent
$169,000
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - Commercial property combining an established cleaning operation, existing equipment, and on-site parking with live-work flexibility.
Where is this live-work space located?
The property is located at 178 Northbound Gratiot Ave Mount Clemens, MI.
What is the asking price?
The asking price for this property is $179,000.
What are key features of this property?
This property features: Live‑work property at 178 Northbound Gratiot Ave, Mount Clemens, MI 48043; 3,651 property size in a GC‑zoned commercial setting; Established dry cleaning and laundry business with existing equipment
