NNN Retail Investment with
28735 Gratiot Ave Roseville, MI 48066
28735 Gratiot Ave, Roseville, MI, 48066
$895,000
For Sale
$895,000
10-year NNN lease commenced 1/28/24 with 2% annual rent increases and extension options.
Property Size5,130 SF
Price / SF$174.46
Days on Market638
Property Features for 28735 Gratiot Ave
General Information
- Standard status
- Active
- Size
- 5,130 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1965
Listing agency
Thomas A. Duke Company
(248) 479-0130
Listed by
Dave Tesch
Source
Cpix.resimplifi
Added: Oct 24, 2024 Updated: Jul 21 at 3:15PM Checked: Jul 22 at 2:11AM
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 Thomas A. Duke Company
Investment Insights
Based on property information with market context.
This NNN retail property is leased to LaundroLab under a 10-year net lease that commenced 1/28/24. The lease includes 2% annual rent increases, along with two (2) five (5) year options to extend. The landlord is responsible for maintaining the parking lot, HVAC, foundation, and roof, and the offering is described as producing NOI of $66,690 with a stated 7.5% cap rate at the ask price.
The asset is located on the west side of Gratiot Ave, just south of 12 Mile Rd in Roseville, MI, in the shadow of a Walmart shopping center along a highly traveled corridor.
Per the lease terms provided, the property is structured for long-term stability through scheduled annual increases and renewal options while keeping key exterior and building systems under landlord responsibility.
The asset is located on the west side of Gratiot Ave, just south of 12 Mile Rd in Roseville, MI, in the shadow of a Walmart shopping center along a highly traveled corridor.
Per the lease terms provided, the property is structured for long-term stability through scheduled annual increases and renewal options while keeping key exterior and building systems under landlord responsibility.
Key Highlights
- 10‑year NNN lease commenced 1/28/24 with 2% annual rent increases
- 7.5% cap rate at ask price; NOI of $66,690
- Two (2) five (5) year options to extend the lease
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $61.6k | $12.00 |
| − Vacancy | −$7.4k | −$1.44 |
| EGI | $54.2k | $10.56 |
| − OpEx | −$16.3k | −$3.17 |
| NOI | $37.9k | $7.39 |
5,130 SF · lease $12.00/SF/yr · vacancy 12.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$541.7K
$474.0K – $632.0K
NOI $37,921 @ 7.0% cap · market cap 4.24%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$960.4K
$840.4K – $1.12M
NOI $67,229 @ 7.0% cap · market cap 7.51%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
T-Mobile
Mobile Phone Store
LaundroLab Laundromat
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
FAQs
What type of property is this?
NNN property - 10-year NNN lease commenced 1/28/24 with 2% annual rent increases and extension options.
Where is this nnn property located?
The property is located at 28735 Gratiot Ave Roseville, MI.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: 10‑year NNN lease commenced 1/28/24 with 2% annual rent increases; 7.5% cap rate at ask price; NOI of $66,690; Two (2) five (5) year options to extend the lease
