Turnkey Retail Site For
For Sale
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3392 S Huron Rd, Bay City, MI 48706
Renovated 2,000 SF retail site with ample parking.
Property Size2,000 SF
Price / SF$149.50
Days on Market185
Property Features for 3392 S Huron Rd
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Retail
Zoning
Commercial
Building Details
Year Renovated
2020
Buildings
1
Stories
1
Units
1
Listing Agency:
Michigan Cannabis Properties
Listed By:
Elijah Simkins · License #MI
Source:
Crexi
Added: Feb 16
Changed: Aug 12
Last Checked: Aug 20 at 1:49PM
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 Michigan Cannabis Properties
Investment Insights
Based on property information with market context.
This renovated 2,000 SF retail site is situated on a hard corner with high traffic, exceeding 6,500 cars per day. The property includes multiple curb cuts and over 25 parking spaces. It is suitable for a high-end recreational dispensary or other retail use. The purchase includes the real estate and virtually all of the FF&Es. Seller financing may be available for the right purchaser. If the owner wishes to use this as a dispensary, they would be required to apply for a new license themselves.
Key Highlights
- Turnkey 2,000 SF retail store including real estate and FF&Es for $299,000.
- High‑traffic hard corner location with over 6,500 cars per day.**
- Over 25 parking spaces and multiple curb cuts.
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
$14,784
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
4.94%
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%
$295,680
$295.7K
Cap Rate 7%
$211,200
$211.2K
Cap Rate 9%
$164,267
$164.3K
Market Conditions
NOI Build-Up for 2,000 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
$24.0K $12.00/SF
− Vacancy
−$2.9K −$1.44/SF
EGI
$21.1K $10.56/SF
− OpEx
−$6.3K −$3.17/SF
NOI
$14.8K $7.39/SF
Area
Bay County, MI
Vacancy
12.00%
Lease Rate
$12.00 /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%
$295,680
Cap Rate 7%
$211,200
Cap Rate 9%
$164,267
Alternative Uses
Best Use
Retail
$211.2K
$184.8K – $246.4K
NOI $14,784 @ 7.0% cap · market cap 4.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$362.1K
$316.8K – $422.4K
NOI $25,344 @ 7.0% cap · market cap 8.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
62
Businesses Nearby
Explore this area
Business Placement
Demographics for 48706, MI
39,381
Population
18,163
Households
2.2
Avg Household Size
45
Median Age
24%
College-Educated
93%
High-School Grad
66.3 sq mi
ZIP Area
594
Density / Sq Mi
$61,908
Median Household Income
$40,151
Median Earnings
$887
Median Rent
$142,300
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
What type of property is this?
Retail space - Renovated 2,000 SF retail site with ample parking.
Where is this retail space located?
The property is located at 3392 S Huron Rd Bay City, MI.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Turnkey 2,000 SF retail store including real estate and FF&Es for $299,000.; High‑traffic hard corner location with over 6,500 cars per day.**; Over 25 parking spaces and multiple curb cuts.
