Eastpointe Commercial Building on 9
For Sale
$590,000
18400 E 9 Mile Road E, Eastpointe, MI 48021
Value-add investment opportunity in Eastpointe's high-traffic area.
Property Size3,280 SF
Lot Size0.41 Acres
Price / SF$179.88
Days on Market174
Property Features for 18400 E 9 Mile Road E
General Information
Standard status
Active
Size
3,280 SF
Lot size
0.41 Acres
Property subtype
Commercial
Zoning
Commercial
Taxes and HOA fees
Annual Taxes
$12,158
Building Details
Building Size
3,280 SF
Year Built
1958
Listing Agency:
Saturn Realty Group
(313) 363-6011
Listed By:
Okeish Y Davis · License #6501339983
(313) 363-6011
Source:
Phgrealty
Added: Mar 3
Changed: Aug 23
Last Checked: Aug 23 at 5:32AM
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 Saturn Realty Group
Investment Insights
Based on property information with market context.
Located on 9 Mile Road in Eastpointe, this commercial building presents a value-add investment opportunity. The single-story, Class C building encompasses 3,280 square feet and is situated on a 17,860-square-foot lot. Zoned MU-2 (Mixed Use), the property accommodates a range of retail, office, medical, and service uses, as well as redevelopment possibilities. The property includes 36 on-site parking spaces, offering a competitive advantage. Its location along a heavily traveled commercial corridor provides strong visibility and accessibility. The MU-2 zoning allows for repositioning, multi-tenant conversion, or potential redevelopment. This property is suitable for owner-users seeking supplemental income or investors targeting value-add upside in a Macomb County retail corridor. The location has a walk score of 62, indicating it is 'Somewhat Walkable', and a bike score of 43, indicating it is 'Somewhat Bikeable'.
Key Highlights
- High‑traffic location on 9 Mile Road with strong visibility and accessibility.
- MU‑2 (Mixed Use) zoning allows for diverse retail, office, medical, service, or redevelopment options.
- Significant on‑site parking with 36 spaces, a competitive advantage in the area.
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
$24,246
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
4.11%
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%
$484,920
$484.9K
Cap Rate 7%
$346,371
$346.4K
Cap Rate 9%
$269,400
$269.4K
Market Conditions
NOI Build-Up for 3,280 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
$39.4K $12.00/SF
− Vacancy
−$4.7K −$1.44/SF
EGI
$34.6K $10.56/SF
− OpEx
−$10.4K −$3.17/SF
NOI
$24.2K $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%
$484,920
Cap Rate 7%
$346,371
Cap Rate 9%
$269,400
Alternative Uses
Best Use
Retail
$346.4K
$303.1K – $404.1K
NOI $24,246 @ 7.0% cap · market cap 4.11%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$614.1K
$537.3K – $716.4K
NOI $42,985 @ 7.0% cap · market cap 7.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
542
Businesses Nearby
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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Frequently Asked Questions
What type of property is this?
Retail space - Value-add investment opportunity in Eastpointe's high-traffic area.
Where is this retail space located?
The property is located at 18400 E 9 Mile Road E Eastpointe, MI.
What is the asking price?
The asking price for this property is $590,000.
What are key features of this property?
This property features: High‑traffic location on 9 Mile Road with strong visibility and accessibility.; MU‑2 (Mixed Use) zoning allows for diverse retail, office, medical, service, or redevelopment options.; Significant on‑site parking with **36 spaces**, a competitive advantage in the area.
