For Sale
$899,900
18641 Ecorse Road, Allen Park, MI 48101
Grocery and convenience stores
Property Size2,650 SF
Days on Market105
Property Features for 18641 Ecorse Road
General Information
Standard status
Active
Size
2,650 SF
Property subtype
Commercial
Zoning
Commercial
Additional Details
Business Included
Yes
Liquor License
Yes
Building Details
Building Size
2,650 SF
Year Built
1965
Year Renovated
2024
Stories
1
Listing Agency:
Park Avenue Realty Inc
(313) 477-4030
Listed By:
Kelly A Matelic · License #MI6501432091
(313) 477-4030
Source:
Homesforsaleinmich
Added: May 11
Changed: Aug 23
Last Checked: Aug 22 at 1:47PM
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 Park Avenue Realty Inc
Investment Insights
Based on property information with market context.
Key Highlights
- Established Allen Park party store completely remodeled in 2024; interior updates include heating & cooling, plumbing, counters, shelving, and flooring
- Newer equipment includes freezers, refrigerators, and an “amazing beer cave” as part of the 2024 interior remodel
- Liquor license and lotto license included, plus a spacious basement and back room for additional storage
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
$34,344
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
3.82%
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%
$686,880
$686.9K
Cap Rate 7%
$490,629
$490.6K
Cap Rate 9%
$381,600
$381.6K
Market Conditions
NOI Build-Up for 2,650 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
$47.7K $18.00/SF
− Vacancy
−$1.9K −$0.72/SF
EGI
$45.8K $17.28/SF
− OpEx
−$11.4K −$4.32/SF
NOI
$34.3K $12.96/SF
Area
Wayne County, MI
Vacancy
4.00%
Lease Rate
$18.00 /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%
$686,880
Cap Rate 7%
$490,629
Cap Rate 9%
$381,600
Alternative Uses
Best Use
Specialty Retail
$490.6K
$429.3K – $572.4K
NOI $34,344 @ 7.0% cap · market cap 3.82%
Second Best
Retail
$358.7K
$313.9K – $418.5K
NOI $25,109 @ 7.0% cap · market cap 2.79%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
539
Businesses Nearby
14k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
7,839 visits/mo
0.2 miles
Shell
Shops & Services
6,597 visits/mo
0.2 miles
Demographics for 48101, MI
28,664
Population
12,413
Households
2.3
Avg Household Size
41
Median Age
30%
College-Educated
94%
High-School Grad
7.0 sq mi
ZIP Area
4,095
Density / Sq Mi
$80,045
Median Household Income
$51,658
Median Earnings
$1,181
Median Rent
$174,500
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
Where is this grocery and convenience store located?
The property is located at 18641 Ecorse Road Allen Park, MI.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: Established Allen Park party store completely remodeled in 2024; interior updates include heating & cooling, plumbing, counters, shelving, and flooring; Newer equipment includes freezers, refrigerators, and an “amazing beer cave” as part of the 2024 interior remodel; Liquor license and lotto license included, plus a spacious basement and back room for additional storage
