Updated Retail
For Sale
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22332 Harper Ave, Saint Clair Shores, MI 48080
B-1-zoned commercial unit with showroom, utility storage, and restroom.
Property Size1,248 SF
Price / SF$160.18
Days on Market14
Property Features for 22332 Harper Ave
General Information
Standard status
Active
Size
1,248 SF
Class
C
Property subtype
Retail, Office
Zoning
B-1
Lease Type
Gross
Investment Type
Owner/User
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
showroom
storage/utility area
restroom
Building Details
Year Built
1955
Year Renovated
2025
Units
1
Tenancy
Single
Listing Agency:
Pilot Property Group
(586) 254-0900
Listed By:
James Diehl · License #MI 6501368863
Source:
Crexi
Added: Jul 29
Changed: Aug 9
Last Checked: Aug 11 at 6:12AM
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 Pilot Property Group
Investment Insights
Based on property information with market context.
This 1,248-square-foot retail space in Saint Clair Shores features an open interior layout with an updated finish. The unit includes a showroom, storage and utility area, and restroom, providing a straightforward configuration for retail operations. Built in 1955, the property carries B-1 zoning.
The property is situated on Harper Avenue between 8 Mile Road and 9 Mile Road, near Grosse Pointe communities. Access to 8 Mile Road, I-94, and I-696 connects the site with surrounding east-side communities and regional routes.
The property is situated on Harper Avenue between 8 Mile Road and 9 Mile Road, near Grosse Pointe communities. Access to 8 Mile Road, I-94, and I-696 connects the site with surrounding east-side communities and regional routes.
Key Highlights
- 1,248 SF retail unit with an open floor plan
- Updated interior with dedicated showroom area
- Includes storage/utility area and restroom
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
$9,225
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
4.61%
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%
$184,500
$184.5K
Cap Rate 7%
$131,786
$131.8K
Cap Rate 9%
$102,500
$102.5K
Market Conditions
NOI Build-Up for 1,248 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
$15.0K $12.00/SF
− Vacancy
−$1.8K −$1.44/SF
EGI
$13.2K $10.56/SF
− OpEx
−$4.0K −$3.17/SF
NOI
$9.2K $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%
$184,500
Cap Rate 7%
$131,786
Cap Rate 9%
$102,500
Alternative Uses
Best Use
Retail
$131.8K
$115.3K – $153.8K
NOI $9,225 @ 7.0% cap · market cap 4.61%
Second Best
Office B
$61.4K
$53.7K – $71.6K
NOI $4,296 @ 7.0% cap · market cap 2.15%
Theoretical Best
Specialty Retail
$233.6K
$204.4K – $272.6K
NOI $16,355 @ 7.0% cap · market cap 8.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,197
Businesses Nearby
Explore this area
Business Placement
Demographics for 48080, MI
22,272
Population
11,424
Households
1.9
Avg Household Size
44
Median Age
33%
College-Educated
96%
High-School Grad
4.4 sq mi
ZIP Area
5,062
Density / Sq Mi
$69,884
Median Household Income
$48,837
Median Earnings
$1,070
Median Rent
$188,800
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - B-1-zoned commercial unit with showroom, utility storage, and restroom.
Where is this retail space located?
The property is located at 22332 Harper Ave Saint Clair Shores, MI.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: 1,248 SF retail unit with an open floor plan; Updated interior with dedicated showroom area; Includes storage/utility area and restroom
