3-Unit Leased Mixed-Use
For Sale
$329,000
311 Southbound Gratiot Avenue, Mount Clemens, MI 48043
Commercial and office-zoned building with three leased units, a corner-site position, and rear lot area.
Property Size2,184 SF
Price / SF$150.64
Days on Market53
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%
Lease Term
Cash, Conventional
Site & Location
Corner Location
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$8,108
Building Details
Building Size
2,184 SF
Year Built
1983
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
1st Choice Realty & Prop Mgmt
(586) 419-9900
Listed By:
Greg Gagnon · License #6502395962
(586) 419-9900
Source:
Sabudarealty
Added: Jul 9
Changed: Aug 29
Last Checked: Aug 29 at 10:29AM
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.
This mixed-use building contains three leased units within a commercial and office-zoned property. Two leases are structured on a month-to-month basis. The building was constructed in 1983 and includes a hip roof, on-site parking, and a large rear lot.
The property occupies a corner lot on Southbound Gratiot Avenue in Mt. Clemens, next to the Clinton River. It is located minutes from Downtown Mt. Clemens and the Macomb County Court buildings. Parking is reported at 6- 10 spaces, supporting the existing multi-unit configuration.
The property occupies a corner lot on Southbound Gratiot Avenue in Mt. Clemens, next to the Clinton River. It is located minutes from Downtown Mt. Clemens and the Macomb County Court buildings. Parking is reported at 6- 10 spaces, supporting the existing multi-unit configuration.
Key Highlights
- Three fully leased units, including two on month‑to‑month terms
- Commercial, Office zoning
- Corner lot on Southbound Gratiot Avenue
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
$25,946
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
7.89%
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%
$518,920
$518.9K
Cap Rate 7%
$370,657
$370.7K
Cap Rate 9%
$288,289
$288.3K
Market Conditions
NOI Build-Up for 2,184 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
$47.2K $21.60/SF
− Vacancy
−$5.7K −$2.59/SF
EGI
$41.5K $19.01/SF
− OpEx
−$15.6K −$7.13/SF
NOI
$25.9K $11.88/SF
Area
Macomb County, MI
Vacancy
12.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$518,920
Cap Rate 7%
$370,657
Cap Rate 9%
$288,289
Alternative Uses
Best Use
Mixed Use
$370.7K
$324.3K – $432.4K
NOI $25,946 @ 7.0% cap · market cap 7.89%
Second Best
Retail
$230.6K
$201.8K – $269.1K
NOI $16,144 @ 7.0% cap · market cap 4.91%
Theoretical Best
Specialty Retail
$408.9K
$357.8K – $477.0K
NOI $28,622 @ 7.0% cap · market cap 8.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
501
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?
Mixed-use property - Commercial and office-zoned building with three leased units, a corner-site position, and rear lot area.
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: Three fully leased units, including two on month‑to‑month terms; Commercial, Office zoning; Corner lot on Southbound Gratiot Avenue
