Storefront Retail
New
For Sale
$135,000
208 Napoleon Rd, Michigan Center, MI 49254
Existing refrigeration, sinks, freezer equipment, and basement storage support a range of retail applications.
Property Size1,329 SF
Price / SF$101.58
Days on Market2
Property Features for 208 Napoleon Rd
General Information
Standard status
Active
Size
1,329 SF
Amenities
standing coolers
sinks
freezer
basement storage
Building Details
Year Built
1977
Listing Agency:
ERA Reardon Realty, L.L.C.
Listed By:
GEORGE D COPP · License #6506044902
(517) 787-7140
Source:
Katie-k
Added: Sep 11
Last Checked: Sep 11 at 2:22PM
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 ERA Reardon Realty, L.L.C.
Investment Insights
Based on property information with market context.
This Michigan Center storefront offers an existing retail setup with several upright coolers, sinks, and a freezer. Basement storage adds functional back-of-house space for inventory and supplies, while the building’s 1977 construction provides an established commercial shell for a new operator or customized retail use.
Located at 208 Napoleon Rd, the property is positioned for continued storefront use. A carryout SDM license is available separately, providing an additional operating option for a qualified user. The Wisconsin Cheese Castle name is associated with the existing property, but the space is presented for a new retail application.
Located at 208 Napoleon Rd, the property is positioned for continued storefront use. A carryout SDM license is available separately, providing an additional operating option for a qualified user. The Wisconsin Cheese Castle name is associated with the existing property, but the space is presented for a new retail application.
Key Highlights
- Existing retail storefront at 208 Napoleon Rd
- Several upright coolers, sinks, and a freezer remain in place
- Basement storage provides additional inventory space
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
$9,165
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
6.79%
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%
$183,300
$183.3K
Cap Rate 7%
$130,929
$130.9K
Cap Rate 9%
$101,833
$101.8K
Market Conditions
NOI Build-Up for 1,329 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
$15.9K $12.00/SF
− Vacancy
−$2.9K −$2.15/SF
EGI
$13.1K $9.85/SF
− OpEx
−$3.9K −$2.96/SF
NOI
$9.2K $6.90/SF
Area
Jackson County, MI
Vacancy
17.90%
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%
$183,300
Cap Rate 7%
$130,929
Cap Rate 9%
$101,833
Alternative Uses
Best Use
Specialty Retail
$180.4K
$157.8K – $210.5K
NOI $12,627 @ 7.0% cap · market cap 9.35%
Second Best
Retail
$130.9K
$114.6K – $152.8K
NOI $9,165 @ 7.0% cap · market cap 6.79%
Theoretical Best
Office A
$212.2K
$185.6K – $247.5K
NOI $14,851 @ 7.0% cap · market cap 11.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
173
Businesses Nearby
12k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 77%
Dining 23%
Shell
Shops & Services
9,446 visits/mo
0.3 miles
Los Tres Amigos
Dining
2,578 visits/mo
0.3 miles
Dairy Queen
Dining
293 visits/mo
0.3 miles
Demographics for 49254, MI
3,163
Population
1,805
Households
1.8
Avg Household Size
44
Median Age
22%
College-Educated
93%
High-School Grad
2.6 sq mi
ZIP Area
1,217
Density / Sq Mi
$73,750
Median Household Income
$50,923
Median Earnings
$1,038
Median Rent
$167,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Storefront property - Existing refrigeration, sinks, freezer equipment, and basement storage support a range of retail applications.
Where is this storefront property located?
The property is located at 208 Napoleon Rd Michigan Center, MI.
What is the asking price?
The asking price for this property is $135,000.
What are key features of this property?
This property features: Existing retail storefront at 208 Napoleon Rd; Several upright coolers, sinks, and a freezer remain in place; Basement storage provides additional inventory space
