Office Building with Ample
For Sale
$225,000
289 Southbound Gratiot Road, Mount Clemens, MI 48043
COMMERCIAL - Mount Clemens, MI
Property Size2,000 SF
Lot Size0.29 Acres
Price / SF$112.50
Days on Market693
Property Features for 289 Southbound Gratiot Road
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Parking Lot
Subdivision
A/P # 22 Mt Clemens
Lot features
Main Street
Standard status
Active
APN
05-11-14-379-013
Size
2,000 SF
Lot size
0.29 Acres
Utilities
Heating system
Forced Air
Water source
Public
Building Details
Year built
1965
Roof type
Shingle
Listing Agency:
Pilot Property Group - Residential LLC
(586) 254-0900
Listed By:
Anthony Rubino · License #6502425251
(586) 873-5419
Added: Sep 23, 2024
Changed: Aug 4
Last Checked: Aug 16 at 3:06PM
MLS# 50156196
Copyright © 2026 Multiple Listing Service MiRealSource. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This offering is a single office investment property with recent building rehabilitation and ample on-site parking. The property is sized at 2,000 square feet and sits on a 0.29-acre lot, providing a compact footprint for an office-oriented use.
The building is located at 289 Southbound Gratiot Road in Mount Clemens, Michigan (48043). Access is described as easy to both southbound and northbound Gratiot, which can support convenient visits for employees and clients.
For buyers seeking a straightforward office asset, the combination of a small, manageable size and on-site parking may be useful for an owner-occupant or a single-tenant office setup. Recent rehab work suggests the building has received attention, while the location along Gratiot may support regular access needs tied to office operations.
The building is located at 289 Southbound Gratiot Road in Mount Clemens, Michigan (48043). Access is described as easy to both southbound and northbound Gratiot, which can support convenient visits for employees and clients.
For buyers seeking a straightforward office asset, the combination of a small, manageable size and on-site parking may be useful for an owner-occupant or a single-tenant office setup. Recent rehab work suggests the building has received attention, while the location along Gratiot may support regular access needs tied to office operations.
Key Highlights
- Single office investment property
- Year built 1965
- Forced air heating
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
$6,885
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
3.06%
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%
$137,700
$137.7K
Cap Rate 7%
$98,357
$98.4K
Cap Rate 9%
$76,500
$76.5K
Market Conditions
NOI Build-Up for 2,000 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
$12.0K $6.00/SF
− Vacancy
−$2.8K −$1.41/SF
EGI
$9.2K $4.59/SF
− OpEx
−$2.3K −$1.15/SF
NOI
$6.9K $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 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%
$137,700
Cap Rate 7%
$98,357
Cap Rate 9%
$76,500
Alternative Uses
Best Use
Office B
$98.4K
$86.1K – $114.8K
NOI $6,885 @ 7.0% cap · market cap 3.06%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$374.4K
$327.6K – $436.8K
NOI $26,210 @ 7.0% cap · market cap 11.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,333
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
Market
Vacancy Rate% for Office 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?
Office building - A recently rehabbed office building offering ample parking and easy access to both directions of Gratiot.
Where is this office building located?
The property is located at 289 Southbound Gratiot Road Mount Clemens, MI.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Single office investment property; Year built 1965; Forced air heating
