Established Laundromat Retail
For Sale
$1,200,000
2247 S Center Road, Burton, MI 48519
Operating laundromat serving surrounding residential neighborhoods near major highways.
Property Size7,330 SF
Days on Market336
Property Features for 2247 S Center Road
General Information
Standard status
Active
Size
7,330 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Building Details
Building Size
7,330 SF
Year Built
1987
Listing Agency:
American Associates REALTORS
(810) 394-0934
Listed By:
Denny Chinonis · License #6505196328
(810) 394-0934
Source:
Homesforsaleinmich
Added: Sep 8, 2025
Changed: Aug 7
Last Checked: Aug 8 at 11:31AM
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 American Associates REALTORS
Investment Insights
Based on property information with market context.
This retail property includes an established laundromat business and was built in 1987. The asset is suited to continued laundromat operations within a retail setting, with an existing customer-facing business in place.
The property is located at 2247 S Center Road in Burton, Michigan, near major highways and surrounded by residential neighborhoods. Its setting provides convenient access for nearby customers and places the business within an established local service area.
The property is located at 2247 S Center Road in Burton, Michigan, near major highways and surrounded by residential neighborhoods. Its setting provides convenient access for nearby customers and places the business within an established local service area.
Key Highlights
- Established laundromat business in a retail property
- Built in 1987
- Near major highways
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
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
467
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 - Operating laundromat serving surrounding residential neighborhoods near major highways.
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 business in a retail property; Built in 1987; Near major highways
