Storefront Property with New
For Sale
Contact for pricing
26803 Harper Avenue, Saint Clair Shores, MI 48081
Updated building systems and an on-site parking lot support office, retail, or contractor showroom use.
Property Size1,030 SF
Price / SF$189.32
Days on Market16
Property Features for 26803 Harper Avenue
General Information
Standard status
Active
Size
1,030 SF
Class
C
Total Parking Spaces
2
Property subtype
Retail, Office
Zoning
B-1
Lease Type
Modified Gross
Investment Type
Owner/User
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
Building Signage
Building Details
Year Built
1960
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Pilot Property Group
(586) 254-0900
Listed By:
James Diehl · License #MI 6501368863
Source:
Crexi
Added: Jul 27
Changed: Aug 4
Last Checked: Aug 10 at 11:06AM
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 storefront property at 26803 Harper Avenue includes a recently replaced roof, new electrical service, and an improved parking lot. The building is identified for office, general retail, or contractor office and showroom use, with B-1 zoning and building signage in place. Constructed in 1960, the property offers two parking spaces, with capacity for four vehicles when stacked.
The site provides access to I-696 and I-94, supporting connections throughout the surrounding area. The existing business should not be disturbed, and the sale is subject to the owner securing a suitable replacement property.
The site provides access to I-696 and I-94, supporting connections throughout the surrounding area. The existing business should not be disturbed, and the sale is subject to the owner securing a suitable replacement property.
Key Highlights
- New roof and electrical service
- B‑1 zoning
- Building signage in place
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
$7,614
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
3.90%
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%
$152,280
$152.3K
Cap Rate 7%
$108,771
$108.8K
Cap Rate 9%
$84,600
$84.6K
Market Conditions
NOI Build-Up for 1,030 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
$12.4K $12.00/SF
− Vacancy
−$1.5K −$1.44/SF
EGI
$10.9K $10.56/SF
− OpEx
−$3.3K −$3.17/SF
NOI
$7.6K $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%
$152,280
Cap Rate 7%
$108,771
Cap Rate 9%
$84,600
Alternative Uses
Best Use
Retail
$108.8K
$95.2K – $126.9K
NOI $7,614 @ 7.0% cap · market cap 3.90%
Second Best
Office B
$50.7K
$44.3K – $59.1K
NOI $3,546 @ 7.0% cap · market cap 1.82%
Theoretical Best
Specialty Retail
$192.8K
$168.7K – $225.0K
NOI $13,498 @ 7.0% cap · market cap 6.92%
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
687
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48081, MI
20,496
Population
9,669
Households
2.1
Avg Household Size
45
Median Age
27%
College-Educated
95%
High-School Grad
3.9 sq mi
ZIP Area
5,255
Density / Sq Mi
$75,735
Median Household Income
$51,140
Median Earnings
$1,272
Median Rent
$202,400
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?
Storefront property - Updated building systems and an on-site parking lot support office, retail, or contractor showroom use.
Where is this storefront property located?
The property is located at 26803 Harper Avenue Saint Clair Shores, MI.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: New roof and electrical service; B‑1 zoning; Building signage in place
