Turnkey Business Opportunity For
For Sale
$450,000
27996 Waltz Road, New Boston, MI 48164
Fully operational business with endless potential in prime location.
Property Size2,057 SF
Price / SF$218.77
Days on Market288
Property Features for 27996 Waltz Road
General Information
Standard status
Active
Size
2,057 SF
Property subtype
Commercial
Zoning
Commercial
Lease Term
Cash, Conventional
Taxes and HOA fees
Annual Taxes
$2,134
Building Details
Building Size
2,057 SF
Year Built
1949
Stories
1
Listing Agency:
Century 21 Curran & Oberski
(313) 274-8191
Listed By:
Sam Abdallah · License #6501404561
(313) 274-8191
Source:
Sabudarealty
Added: Nov 11, 2025
Changed: Aug 23
Last Checked: Aug 25 at 8:14AM
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 Century 21 Curran & Oberski
Investment Insights
Based on property information with market context.
This property presents an opportunity to take over a fully operational business with potential for various ventures, including a deli, party store, or ice cream shop. The site features a large storage lot or impound area with parking for over 35 vehicles, suitable for cars, boats, or equipment. The property is conveniently located minutes from I-275 and the Manheim Auto Auction, offering excellent visibility and easy access. Recent updates include electrical and walk-in coolers. The property is licensed for lottery and alcohol sales. An overhead door provides convenient deliveries and storage access. The sale includes both the business and the real estate.
Key Highlights
- Fully operational business with endless potential and flexibility.
- Prime location with excellent visibility and easy access to I‑275 and Manheim Auto Auction.
- Large storage lot/impound area with parking for over 35 vehicles.
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
$26,659
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
5.92%
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%
$533,180
$533.2K
Cap Rate 7%
$380,843
$380.8K
Cap Rate 9%
$296,211
$296.2K
Market Conditions
NOI Build-Up for 2,057 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
$37.0K $18.00/SF
− Vacancy
−$1.5K −$0.72/SF
EGI
$35.5K $17.28/SF
− OpEx
−$8.9K −$4.32/SF
NOI
$26.7K $12.96/SF
Area
Wayne County, MI
Vacancy
4.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$533,180
Cap Rate 7%
$380,843
Cap Rate 9%
$296,211
Alternative Uses
Best Use
Specialty Retail
$380.8K
$333.2K – $444.3K
NOI $26,659 @ 7.0% cap · market cap 5.92%
Second Best
Retail
$278.4K
$243.6K – $324.8K
NOI $19,490 @ 7.0% cap · market cap 4.33%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
32
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 48164, MI
9,676
Population
3,625
Households
2.7
Avg Household Size
44
Median Age
25%
College-Educated
94%
High-School Grad
30.3 sq mi
ZIP Area
319
Density / Sq Mi
$111,173
Median Household Income
$57,148
Median Earnings
$1,495
Median Rent
$313,700
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Fully operational business with endless potential in prime location.
Where is this grocery and convenience store located?
The property is located at 27996 Waltz Road New Boston, MI.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Fully operational business with endless potential and flexibility.; Prime location with excellent visibility and easy access to I‑275 and Manheim Auto Auction.; Large storage lot/impound area with parking for over 35 vehicles.
