Rehabilitated Office
For Sale
$225,000
289 Southbound Gratiot Road, Mount Clemens, MI 48043
COM/IND/BUS OPP, Mount Clemens, MI
Property Size2,000 SF
Lot Size0.29 Acres
Price / SF$112.50
Days on Market744
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: Oct 6
Last Checked: Oct 6 at 5:06PM
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 single-office building contains 2,000 square feet on a 0.29-acre parcel. Constructed in 1965, the property has undergone recent rehabilitation and includes a parking lot, forced-air heating, a shingle roof, and public water service.
The property is located at 289 Southbound Gratiot Road in Mount Clemens, with access to both southbound and northbound Gratiot. Its configuration provides a dedicated office setting with on-site parking and established building improvements.
The property is located at 289 Southbound Gratiot Road in Mount Clemens, with access to both southbound and northbound Gratiot. Its configuration provides a dedicated office setting with on-site parking and established building improvements.
Key Highlights
- 2,000‑square‑foot single‑office building on a 0.29‑acre parcel
- Recent building rehabilitation
- Access to southbound and northbound Gratiot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$6,885
Cap Rate
3.06%
Suggested Prices Based on Cap Rates
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
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 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
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Current Use
Lease Details
Yes
Paved road access
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 - Single-office property with on-site parking, forced-air heating, and public water service.
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: 2,000‑square‑foot single‑office building on a 0.29‑acre parcel; Recent building rehabilitation; Access to southbound and northbound Gratiot
