Renovated Storefront Retail
New
For Sale
$550,000
21396 Cass Avenue, Clinton Township, MI 48036
COM/IND/BUS OPP, Clinton Township, MI
Property Size2,760 SF
Lot Size0.19 Acres
Price / SF$199.28
Days on Market2
Property Features for 21396 Cass Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Subdivision
Streval Heights Sub
Lot features
Main Street
Standard status
Active
APN
16-11-15-201-035
Size
2,760 SF
Lot size
0.19 Acres
Utilities
Heating system
Forced Air
Water source
Public
Building Details
Year built
1989
Roof type
Shingle
Listing Agency:
Pilot Property Group - Residential LLC
(586) 254-0900
Listed By:
Anthony Rubino · License #6502425251
(586) 873-5419
Added: Sep 24
Last Checked: Sep 25 at 5:06AM
MLS# 50222827
Copyright © 2026 Multiple Listing Service MiRealSource. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,760-square-foot storefront property occupies a 0.19-acre parcel and contains renovated units with open floor plans and 14-foot exposed ceilings. Commercial zoning allows a variety of uses, and the building dates to 1989.
The property is on Cass Avenue in Clinton Township, next to Dunkin’ Donuts and near national retail tenants. Public water serves the site.
The property is on Cass Avenue in Clinton Township, next to Dunkin’ Donuts and near national retail tenants. Public water serves the site.
Key Highlights
- 2,760 square feet on a 0.19‑acre parcel
- Renovated units with open floor plans
- 14‑foot exposed ceilings
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
$20,402
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
3.71%
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%
$408,040
$408.0K
Cap Rate 7%
$291,457
$291.5K
Cap Rate 9%
$226,689
$226.7K
Market Conditions
NOI Build-Up for 2,760 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
$33.1K $12.00/SF
− Vacancy
−$4.0K −$1.44/SF
EGI
$29.1K $10.56/SF
− OpEx
−$8.7K −$3.17/SF
NOI
$20.4K $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%
$408,040
Cap Rate 7%
$291,457
Cap Rate 9%
$226,689
Alternative Uses
Best Use
Retail
$291.5K
$255.0K – $340.0K
NOI $20,402 @ 7.0% cap · market cap 3.71%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$516.7K
$452.1K – $602.8K
NOI $36,170 @ 7.0% cap · market cap 6.58%
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
428
Businesses Nearby
252k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 39%
Dining 36%
Shops & Services 20%
Electronics 3%
Meijer
Groceries
78,391 visits/mo
0.2 miles
Aldi
Groceries
20,088 visits/mo
0.5 miles
Meijer Gas Station
Shops & Services
19,917 visits/mo
0.2 miles
McDonald's
Dining
19,042 visits/mo
0.2 miles
Taco Bell
Dining
12,729 visits/mo
0.1 miles
Demographics for 48036, MI
22,517
Population
9,855
Households
2.3
Avg Household Size
41
Median Age
22%
College-Educated
93%
High-School Grad
8.3 sq mi
ZIP Area
2,713
Density / Sq Mi
$65,109
Median Household Income
$36,730
Median Earnings
$1,018
Median Rent
$201,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Flexible commercial zoning and open interior layouts support a range of business uses.
Where is this storefront property located?
The property is located at 21396 Cass Avenue Clinton Township, 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: 2,760 square feet on a 0.19‑acre parcel; Renovated units with open floor plans; 14‑foot exposed ceilings
