Brick Storefront With
For Sale
Under Contract
$475,000
324 W Main Street, Gaylord, MI 49735
COMMERCIAL - Gaylord, MI
Property Size2,175 SF
Price / SF$218.39
Days on Market93
Property Features for 324 W Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B-1
Parking features
Parking Lot
Basement
Full
Subdivision
T31N R3W
Directions
Located in downtown Gaylord on Main Street just west of the intersection with Otsego Ave.
Standard status
Active Under Contract
APN
100-000-002-009-02
Size
2,175 SF
Taxes and HOA fees
Tax Description
W 22 FT OF LOT 9 EXC N 12 FT BLK 2 CITY OFGAYLORD
Legal Description
W 22 FT OF LOT 9 EXC N 12 FT BLK 2 CITY OFGAYLORD
Utilities
Sewer type
Public Sewer
Building Details
Building materials
Brick
Listing Agency:
The TEAM Real Estate Group
(989) 732-6500
Listed By:
Daphne Cousineau · License #6501451636
(989) 619-5976
Added: Jun 5
Changed: Aug 13
Last Checked: Sep 5 at 10:06PM
MLS# 201840610
Copyright © 2026 Water Wonderland Board of Realtors®. 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 2,175-square-foot storefront property at 324 W Main Street is constructed with brick and includes the real estate and equipment. The property carries B-1 zoning and provides a parking lot for on-site vehicle access.
Situated in downtown Gaylord along M-32, the building offers a commercial location on Main Street. Public sewer serves the property, supporting its existing retail-oriented configuration.
Situated in downtown Gaylord along M-32, the building offers a commercial location on Main Street. Public sewer serves the property, supporting its existing retail-oriented configuration.
Key Highlights
- 2,175‑square‑foot storefront property
- Brick construction at 324 W Main Street
- B‑1 zoning
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
$22,578
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
4.75%
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%
$451,560
$451.6K
Cap Rate 7%
$322,543
$322.5K
Cap Rate 9%
$250,867
$250.9K
Market Conditions
NOI Build-Up for 2,175 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
$33.7K $15.48/SF
− Vacancy
−$1.4K −$0.65/SF
EGI
$32.3K $14.83/SF
− OpEx
−$9.7K −$4.45/SF
NOI
$22.6K $10.38/SF
Area
Otsego County, MI
Vacancy
4.20%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
30.00%
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%
$451,560
Cap Rate 7%
$322,543
Cap Rate 9%
$250,867
Alternative Uses
Best Use
Retail
$322.5K
$282.2K – $376.3K
NOI $22,578 @ 7.0% cap · market cap 4.75%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.98M
$2.61M – $3.48M
NOI $208,539 @ 7.0% cap · market cap 43.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
972
Businesses Nearby
186k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 52%
Shops & Services 35%
Groceries 10%
Hotels & Casinos 3%
McDonald's
Dining
34,190 visits/mo
0.2 miles
Speedway
Shops & Services
20,441 visits/mo
0.2 miles
Family Fare
Groceries
18,037 visits/mo
0.3 miles
Qdoba Mexican Grill
Dining
16,825 visits/mo
0.3 miles
Holiday Station Store
Shops & Services
15,700 visits/mo
0.2 miles
Demographics for 49735, MI
20,568
Population
11,551
Households
1.8
Avg Household Size
44
Median Age
27%
College-Educated
94%
High-School Grad
248.6 sq mi
ZIP Area
83
Density / Sq Mi
$69,050
Median Household Income
$39,813
Median Earnings
$876
Median Rent
$200,800
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.
Similar Off Market Nearby
- Rosemary & Pepper Flower Co. — 261 S Wisconsin Ave, Gaylord, MI 49735
- Martin the Flower Guy — 118 N Otsego Ave, Gaylord, MI 49735
Frequently Asked Questions
What type of property is this?
Storefront property - Downtown commercial space along M-32 with B-1 zoning, a parking lot, and included equipment.
Where is this storefront property located?
The property is located at 324 W Main Street Gaylord, MI.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 2,175‑square‑foot storefront property; Brick construction at 324 W Main Street; B‑1 zoning
