Established Retail Property For
For Sale
$550,000
209 Northbound Gratiot Avenue, Mount Clemens, MI 48043
High-traffic location with long-term tenants, strong investment opportunity.
Property Size5,529 SF
Days on Market202
Property Features for 209 Northbound Gratiot Avenue
General Information
Standard status
Active
Size
5,529 SF
Property subtype
Commercial
Zoning
Commercial
Taxes and HOA fees
Annual Taxes
$13,643
Building Details
Building Size
5,529 SF
Year Built
1987
Listing Agency:
Community Choice Realty Inc
(248) 225-5994
Listed By:
Jonathan Farida · License #MI6501432091
(248) 225-5994
Source:
Carolbollo
Added: Feb 2
Changed: Aug 23
Last Checked: Aug 23 at 9:14AM
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 property presents an opportunity to acquire an investment property situated in a high-traffic area. The property is currently occupied by two tenants: Metro by T-Mobile, a national tenant that has operated at this location for over 15 years, and EZ Go Golf Carts, which also has a well-established presence. The location has a walk score of 84, indicating it is very walkable, and a bike score of 53, indicating it is bikeable.
Key Highlights
- High‑traffic location in the state.
- National tenant (Metro by T‑Mobile) with 15+ years at the location.
- Long‑term tenant stability demonstrated.
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
Industrial
$425.9K
$372.7K – $496.9K
NOI $29,813 @ 7.0% cap · market cap 5.42%
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
Property Profile
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 - High-traffic location with long-term tenants, strong investment opportunity.
Where is this retail space located?
The property is located at 209 Northbound Gratiot Avenue 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: High‑traffic location in the state.; National tenant (Metro by T‑Mobile) with 15+ years at the location.; Long‑term tenant stability demonstrated.
