Snowfruit Grocery and Convenience
For Sale
Contact for pricing
3097 S Baldwin Rd, Lake Orion, MI 48359
B-3-zoned retail property near I-75 and M-24 in Lake Orion.
Property Size100 SF
Price / SF$500
Days on Market133
Property Features for 3097 S Baldwin Rd
General Information
Standard status
Active
Size
100 SF
Class
B
Total Parking Spaces
250
Property subtype
Business for Sale
Zoning
b-3
Investment Type
Stabilized
Listing Agency:
The Herish Group
(586) 999-9286
Listed By:
Elias Herish · License #6505406439
Source:
Crexi
Added: Apr 21
Changed: Aug 30
Last Checked: Aug 30 at 8:05PM
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 The Herish Group
Investment Insights
Based on property information with market context.
Snowfruit is a grocery and convenience store property at 3097 S Baldwin Rd in Lake Orion, Michigan. The asset is identified with B-3 zoning and is associated with a retail business operation.
The property is positioned near I-75 and M-24, with the business described in connection with Kroger marketplace locations. Its Lake Orion address places the asset within Oakland County.
The property is positioned near I-75 and M-24, with the business described in connection with Kroger marketplace locations. Its Lake Orion address places the asset within Oakland County.
Key Highlights
- Grocery and convenience store property
- B‑3 zoning
- 3097 S Baldwin Rd, Lake Orion, MI 48359
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
$1,510
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
3.02%
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%
$30,200
$30.2K
Cap Rate 7%
$21,571
$21.6K
Cap Rate 9%
$16,778
$16.8K
Market Conditions
NOI Build-Up for 100 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
$2.2K $21.60/SF
− Vacancy
−$147 −$1.47/SF
EGI
$2.0K $20.13/SF
− OpEx
−$503 −$5.03/SF
NOI
$1.5K $15.10/SF
Area
Oakland County, MI
Vacancy
6.80%
Lease Rate
$21.60 /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%
$30,200
Cap Rate 7%
$21,571
Cap Rate 9%
$16,778
Alternative Uses
Best Use
Specialty Retail
$21.6K
$18.9K – $25.2K
NOI $1,510 @ 7.0% cap · market cap 3.02%
Second Best
Retail
$15.4K
$13.5K – $17.9K
NOI $1,076 @ 7.0% cap · market cap 2.15%
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
213
Businesses Nearby
67k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 57%
Shops & Services 29%
Home Improvements & Furnishings 7%
Beauty & Spa 4%
Kroger
Groceries
38,453 visits/mo
0.1 miles
Chase Bank
Shops & Services
7,227 visits/mo
0.4 miles
Dollar General
Shops & Services
6,659 visits/mo
0.1 miles
Stones Ace Hardware And Paint
Home Improvements & Furnishings
5,036 visits/mo
0.2 miles
The UPS Store
Shops & Services
4,410 visits/mo
0.4 miles
Demographics for 48359, MI
9,939
Population
4,477
Households
2.2
Avg Household Size
36
Median Age
52%
College-Educated
92%
High-School Grad
10.9 sq mi
ZIP Area
912
Density / Sq Mi
$94,618
Median Household Income
$50,657
Median Earnings
$1,360
Median Rent
$329,500
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 - B-3-zoned retail property near I-75 and M-24 in Lake Orion.
Where is this grocery and convenience store located?
The property is located at 3097 S Baldwin Rd Lake Orion, MI.
What is the asking price?
The asking price for this property is $50,000.
What are key features of this property?
This property features: Grocery and convenience store property; B‑3 zoning; 3097 S Baldwin Rd, Lake Orion, MI 48359
