Retail Investment Property with
For Sale
$550,000
209 NORTHBOUND GRATIOT AVE, Mount Clemens, MI 48043
Retail property for sale featuring long-term tenants Metro by T-Mobile and EZ Go Golf Carts.
Property Size5,529 SF
Price / SF$99.48
Days on Market204
Property Features for 209 NORTHBOUND GRATIOT AVE
General Information
Standard status
Active
Size
5,529 SF
Property subtype
Industrial
Amenities
3
7070
Building Details
Year Built
19
Listing Agency:
Community Choice Realty Inc
(248) 225-5994
Listed By:
Jonathan Farida · License #MI6501432091
(248) 225-5994
Source:
Xome
Added: Jan 26
Changed: Aug 12
Last Checked: Aug 18 at 4:16AM
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 Community Choice Realty Inc
Investment Insights
Based on property information with market context.
This retail investment property is offered for sale with existing tenants in place. Metro by T-Mobile operates continuously at the location for more than 15 years, reflecting established long-term occupancy. EZ Go Golf Carts is also an ongoing tenant.
The property is located at 209 Northbound Gratiot Avenue in Mount Clemens, Michigan. At an overall size of 5,529 square feet, it presents a practical option for buyers looking to acquire a leased retail asset with operating tenants.
Please confirm lease terms, rent roll, and allowable uses with the listing broker prior to completing due diligence.
The property is located at 209 Northbound Gratiot Avenue in Mount Clemens, Michigan. At an overall size of 5,529 square feet, it presents a practical option for buyers looking to acquire a leased retail asset with operating tenants.
Please confirm lease terms, rent roll, and allowable uses with the listing broker prior to completing due diligence.
Key Highlights
- Long‑term tenants: Metro by T‑Mobile and EZ Go Golf Carts
- Metro by T‑Mobile has operated at this location for more than 15 years continuously
- Guest facilities: 3
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
$40,870
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
7.43%
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%
$817,400
$817.4K
Cap Rate 7%
$583,857
$583.9K
Cap Rate 9%
$454,111
$454.1K
Market Conditions
NOI Build-Up for 5,529 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
$66.3K $12.00/SF
− Vacancy
−$8.0K −$1.44/SF
EGI
$58.4K $10.56/SF
− OpEx
−$17.5K −$3.17/SF
NOI
$40.9K $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%
$817,400
Cap Rate 7%
$583,857
Cap Rate 9%
$454,111
Alternative Uses
Best Use
Retail
$583.9K
$510.9K – $681.2K
NOI $40,870 @ 7.0% cap · market cap 7.43%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.04M
$905.7K – $1.21M
NOI $72,458 @ 7.0% cap · market cap 13.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,100
Businesses Nearby
21k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 80%
Dining 14%
Electronics 6%
Shell
Shops & Services
13,140 visits/mo
0.4 miles
Huntington Bank
Shops & Services
3,790 visits/mo
0.3 miles
Happy's Pizza
Dining
3,003 visits/mo
0.3 miles
Cricket Wireless Authorized Retailer
Electronics
655 visits/mo
0.3 miles
Metro by T-Mobile
Electronics
612 visits/mo
0.0 miles
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 Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail property for sale featuring long-term tenants Metro by T-Mobile and EZ Go Golf Carts.
Where is this retail space located?
The property is located at 209 NORTHBOUND GRATIOT AVE Mount Clemens, MI.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Long‑term tenants: Metro by T‑Mobile and EZ Go Golf Carts; Metro by T‑Mobile has operated at this location for more than 15 years continuously; Guest facilities: 3
