Leased Mixed-Use Retail/Office
New
For Sale
$329,000
311 SOUTHBOUND GRATIOT Avenue, Mount Clemens, MI 48043
Three leased units combine retail and office use in a corner-lot building.
Property Size2,200 SF
Price / SF$149.55
Days on Market2
Property Features for 311 SOUTHBOUND GRATIOT Avenue
General Information
Standard status
Active
Size
2,200 SF
Total Parking Spaces
10
Occupancy
100%
Additional Details
Corner Location
Yes
Building Details
Tenancy
Multi
Listing Agency:
1st Choice Realty & Prop Mgmt
(586) 419-9900
Listed By:
Greg Gagnon · License #6502395962
Source:
Brendaharrisgroup
Added: Sep 8
Last Checked: Sep 8 at 2:35PM
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 2,200-square-foot mixed-use property contains three fully leased units configured for retail and office occupancy. Two leases are month-to-month, while the building includes a hip roof, on-site parking, and a sizable rear lot.
The property occupies a corner along Southbound Gratiot Avenue in Mount Clemens, next to the Clinton River. Downtown Mount Clemens and the Macomb County Court buildings are a short drive away. Parking is reported at 6–10 spaces, supporting the existing multi-unit configuration.
The property occupies a corner along Southbound Gratiot Avenue in Mount Clemens, next to the Clinton River. Downtown Mount Clemens and the Macomb County Court buildings are a short drive away. Parking is reported at 6–10 spaces, supporting the existing multi-unit configuration.
Key Highlights
- 2,200‑square‑foot mixed‑use retail/office building
- Three fully leased units, including two month‑to‑month tenancies
- Corner lot on Southbound Gratiot Avenue in Mount Clemens
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
$26,136
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
7.94%
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%
$522,720
$522.7K
Cap Rate 7%
$373,371
$373.4K
Cap Rate 9%
$290,400
$290.4K
Market Conditions
NOI Build-Up for 2,200 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
$47.5K $21.60/SF
− Vacancy
−$5.7K −$2.59/SF
EGI
$41.8K $19.01/SF
− OpEx
−$15.7K −$7.13/SF
NOI
$26.1K $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%
$522,720
Cap Rate 7%
$373,371
Cap Rate 9%
$290,400
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
501
Businesses Nearby
11k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 84%
Dining 16%
Sunoco
Shops & Services
4,950 visits/mo
0.3 miles
Huntington Bank
Shops & Services
2,482 visits/mo
0.4 miles
Family Dollar
Shops & Services
2,157 visits/mo
0.3 miles
SUBWAY
Dining
1,783 visits/mo
0.3 miles
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 Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three leased units combine retail and office use in a corner-lot building.
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‑square‑foot mixed‑use retail/office building; Three fully leased units, including two month‑to‑month tenancies; Corner lot on Southbound Gratiot Avenue in Mount Clemens
