Office Building with
For Sale
$199,000
231 Southbound Gratiot Ave, Mount Clemens, MI 48043
MU zoning and a basement accompany a two-story building previously used as an accounting office.
Property Size2,706 SF
Price / SF$73.54
Days on Market8
Property Features for 231 Southbound Gratiot Ave
General Information
Standard status
Active
Size
2,706 SF
Total Parking Spaces
1
Property subtype
Office, Multifamily
Zoning
MU
Building Details
Building Size
2,706 SF
Year Built
1950
Buildings
1
Stories
2
Listing Agency:
Anton, Sowerby & Associates, Inc.
Listed By:
Garth Frounfelker · License #6502433487
(586) 469-8888
Source:
Cpix.resimplifi
Added: Sep 29
Changed: Sep 30
Last Checked: Oct 5 at 3:14PM
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 Anton, Sowerby & Associates, Inc.
Investment Insights
Based on property information with market context.
Built in 1950, this 2,706-square-foot, two-story office building includes a basement and a one-car garage. The property was previously occupied by an accounting office. Its MU multi-use zoning and existing layout may support office, retail, or residential reuse. A newer roof and boiler are also in place.
The property fronts both northbound and southbound Gratiot Avenue in Mount Clemens, Michigan. The sale includes an additional vacant lot that could support future expansion.
The property fronts both northbound and southbound Gratiot Avenue in Mount Clemens, Michigan. The sale includes an additional vacant lot that could support future expansion.
Key Highlights
- 2,706 SF across two stories, with a basement and one‑car garage
- MU multi‑use zoning; office, retail, or residential conversion potential
- Frontage on northbound and southbound Gratiot Avenue
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,315
Cap Rate
4.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$186,300
$186.3K
Cap Rate 7%
$133,071
$133.1K
Cap Rate 9%
$103,500
$103.5K
Market Conditions
NOI Build-Up for 2,706 SF
Gross rent
$16.2K $6.00/SF
− Vacancy
−$3.8K −$1.41/SF
EGI
$12.4K $4.59/SF
− OpEx
−$3.1K −$1.15/SF
NOI
$9.3K $3.44/SF
Area
Macomb County, MI
Vacancy
23.50%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$186,300
Cap Rate 7%
$133,071
Cap Rate 9%
$103,500
Alternative Uses
Best Use
Office B
$133.1K
$116.4K – $155.3K
NOI $9,315 @ 7.0% cap · market cap 4.68%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$506.6K
$443.3K – $591.0K
NOI $35,462 @ 7.0% cap · market cap 17.82%
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
598
Businesses Nearby
Explore this area
Business Placement
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - MU zoning and a basement accompany a two-story building previously used as an accounting office.
Where is this office building located?
The property is located at 231 Southbound Gratiot Ave Mount Clemens, MI.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: 2,706 SF across two stories, with a basement and one‑car garage; MU multi‑use zoning; office, retail, or residential conversion potential; Frontage on northbound and southbound Gratiot Avenue
