Laundromat Retail
For Sale
$1,200,000
2247 S Center Road, Burton, MI 48519
COM/IND/BUS OPP, Burton, MI
Property Size7,330 SF
Lot Size1.47 Acres
Price / SF$163.71
Days on Market360
Property Features for 2247 S Center Road
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Burton (25018)
Standard status
Active
APN
59-22-100-014
Size
7,330 SF
Lot size
1.47 Acres
Utilities
Water source
Public
Building Details
Year built
1987
Listing Agency:
American Associates REALTORS
(810) 579-3333
Listed By:
Denny Chinonis · License #6505196328
(810) 394-0934
Added: Sep 8, 2025
Changed: Aug 19
Last Checked: Sep 2 at 9:06AM
MLS# 50187680
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 retail property includes an established laundromat within a 7,330-square-foot building on 1.47 acres. Constructed in 1987, the building is served by public water and operates as an existing laundry-use commercial asset.
The property is located at 2247 S Center Road in Burton, Michigan, 48519. Its setting is described as minutes from major highways and near residential neighborhoods, providing access to the surrounding Burton market. The site combines a substantial land area with an existing retail building and operating business.
The property is located at 2247 S Center Road in Burton, Michigan, 48519. Its setting is described as minutes from major highways and near residential neighborhoods, providing access to the surrounding Burton market. The site combines a substantial land area with an existing retail building and operating business.
Key Highlights
- Established laundromat at 2247 S Center Road, Burton, MI 48519
- 7,330‑square‑foot retail building
- 1.47‑acre commercial parcel
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
$76,092
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
6.34%
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%
$1,521,840
$1.5M
Cap Rate 7%
$1,087,029
$1.1M
Cap Rate 9%
$845,467
$845.5K
Market Conditions
NOI Build-Up for 7,330 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
$113.5K $15.48/SF
− Vacancy
−$4.8K −$0.65/SF
EGI
$108.7K $14.83/SF
− OpEx
−$32.6K −$4.45/SF
NOI
$76.1K $10.38/SF
Area
Genesee County, MI
Vacancy
4.20%
Lease Rate
$15.48 /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%
$1,521,840
Cap Rate 7%
$1,087,029
Cap Rate 9%
$845,467
Alternative Uses
Best Use
Retail
$1.09M
$951.2K – $1.27M
NOI $76,092 @ 7.0% cap · market cap 6.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.54M
$1.35M – $1.80M
NOI $107,970 @ 7.0% cap · market cap 9.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
233
Businesses Nearby
Explore this area
Business Placement
Demographics for 48519, MI
7,825
Population
3,356
Households
2.3
Avg Household Size
42
Median Age
16%
College-Educated
88%
High-School Grad
7.8 sq mi
ZIP Area
1,003
Density / Sq Mi
$60,625
Median Household Income
$36,924
Median Earnings
$890
Median Rent
$157,800
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 - Existing laundry business on a sizable commercial parcel with public water service.
Where is this retail space located?
The property is located at 2247 S Center Road Burton, MI.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Established laundromat at 2247 S Center Road, Burton, MI 48519; 7,330‑square‑foot retail building; 1.47‑acre commercial parcel
