For Sale
$349,900
33518 W Jefferson Avenue, Rockwood, MI 48173
Restaurants
Property Size1,975 SF
Lot Size3.50 Acres
Days on Market313
Property Features for 33518 W Jefferson Avenue
General Information
Standard status
Active
Size
1,975 SF
Lot size
3.50 Acres
Property subtype
Commercial
Zoning
Commercial
Taxes and HOA fees
Annual Taxes
$5,980
Building Details
Building Size
1,975 SF
Year Built
1941
Listing Agency:
Coldwell Banker Haynes Real Estate Commercial
(734) 624-4923
Listed By:
Cole McNew · License #6506045434
(734) 624-4923
Source:
Carolbollo
Added: Oct 15, 2025
Changed: Aug 23
Last Checked: Jul 29 at 6:47AM
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 Coldwell Banker Haynes Real Estate Commercial
Investment Insights
Based on property information with market context.
Key Highlights
- Turn‑key opportunity: Includes full furniture, fixtures, and equipment package for immediate operation.
- Prime location: 250 feet of W. Jefferson frontage with excellent visibility and high local traffic.
- Serves high‑traffic area: Located near Lake Erie Metropark, marinas, golf courses, and waterfront communities.
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
$25,596
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
7.32%
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%
$511,920
$511.9K
Cap Rate 7%
$365,657
$365.7K
Cap Rate 9%
$284,400
$284.4K
Market Conditions
NOI Build-Up for 1,975 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
$35.6K $18.00/SF
− Vacancy
−$1.4K −$0.72/SF
EGI
$34.1K $17.28/SF
− OpEx
−$8.5K −$4.32/SF
NOI
$25.6K $12.96/SF
Area
Wayne County, MI
Vacancy
4.00%
Lease Rate
$18.00 /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%
$511,920
Cap Rate 7%
$365,657
Cap Rate 9%
$284,400
Alternative Uses
Best Use
Specialty Retail
$365.7K
$320.0K – $426.6K
NOI $25,596 @ 7.0% cap · market cap 7.32%
Second Best
—
—
no second resolved use
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
71
Businesses Nearby
6k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
A&W Restaurant
Dining
6,116 visits/mo
0.3 miles
Demographics for 48173, MI
13,443
Population
5,391
Households
2.5
Avg Household Size
42
Median Age
24%
College-Educated
94%
High-School Grad
11.9 sq mi
ZIP Area
1,130
Density / Sq Mi
$90,510
Median Household Income
$55,163
Median Earnings
$1,130
Median Rent
$232,600
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
Where is this restaurant located?
The property is located at 33518 W Jefferson Avenue Rockwood, MI.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Turn‑key opportunity: Includes full furniture, fixtures, and equipment package for immediate operation.; Prime location: **250 feet of W. Jefferson frontage with excellent visibility and high local traffic.**; Serves high‑traffic area: Located near Lake Erie Metropark, marinas, golf courses, and waterfront communities.
