Mixed-Use Building with Leased
New
For Sale
$329,000
311 Southbound Gratiot Avenue, Mount Clemens, MI 48043
The property combines retail and office space with all three units currently leased.
Property Size2,184 SF
Price / SF$149.55
Days on Market3
Property Features for 311 Southbound Gratiot Avenue
General Information
Standard status
Active
Size
2,184 SF
Total Parking Spaces
10
Property subtype
Commercial
Zoning
Commercial, Office
Occupancy
100%
Additional Details
Corner Location
Yes
Taxes and HOA fees
Annual Taxes
$8,108
Building Details
Building Size
2,184 SF
Year Built
1983
Buildings
1
Tenancy
Multi
Listing Agency:
1st Choice Realty & Prop Mgmt
(586) 419-9900
Listed By:
Greg Gagnon · License #6502395962
Source:
Thebrokeragehouse
Added: Aug 3
Changed: Aug 4
Last Checked: Aug 5 at 12:42PM
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 1st Choice Realty & Prop Mgmt
Investment Insights
Based on property information with market context.
Built in 1983, this 2,200-square-foot mixed-use building contains retail and office space arranged across three fully leased units. Two of the leases are month-to-month, providing a varied occupancy structure. The building has a hip roof, on-site parking for 6-10 vehicles, and a rear lot.
The property sits on a corner along Gratiot Avenue in Mount Clemens, next to the Clinton River. Downtown Mount Clemens and the Macomb County Court buildings are only minutes away. Zoning is identified as Commercial, Office, supporting the building’s existing retail and office configuration.
The property sits on a corner along Gratiot Avenue in Mount Clemens, next to the Clinton River. Downtown Mount Clemens and the Macomb County Court buildings are only minutes away. Zoning is identified as Commercial, Office, supporting the building’s existing retail and office configuration.
Key Highlights
- 2,200 sq ft mixed‑use retail and office building
- Three fully leased units, including two on month‑to‑month terms
- 6- 10 parking spaces and a rear lot
Financial Insights For Mixed Use
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 | $47.5k | $21.60 |
| − Vacancy | −$5.7k | −$2.59 |
| EGI | $41.8k | $19.01 |
| − OpEx | −$15.7k | −$7.13 |
| NOI | $26.1k | $11.88 |
2,200 SF · lease $21.60/SF/yr · vacancy 12.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$373.4K
$326.7K – $435.6K
NOI $26,136 @ 7.0% cap · market cap 7.94%
Second Best
Retail
$232.3K
$203.3K – $271.0K
NOI $16,262 @ 7.0% cap · market cap 4.94%
Theoretical Best
Specialty Retail
$411.9K
$360.4K – $480.5K
NOI $28,831 @ 7.0% cap · market cap 8.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - The property combines retail and office space with all three units currently leased.
Where is this mixed-use property located?
The property is located at 311 Southbound Gratiot Avenue Mount Clemens, MI.
What is the asking price?
The asking price for this property is $329,000.
What are key features of this property?
This property features: 2,200 sq ft mixed‑use retail and office building; Three fully leased units, including two on month‑to‑month terms; 6- 10 parking spaces and a rear lot
