Signalized-Corner Retail
New
For Sale
$1,499,000
34001 Groesbeck Highway, Clinton Twp, MI 48035
Commercial zoning, signage opportunities, parking, and vehicle access serve a range of business formats.
Property Size12,088 SF
Days on Market2
Property Features for 34001 Groesbeck Highway
General Information
Standard status
Active
Size
12,088 SF
Property subtype
Commercial
Zoning
Commercial, Multiple
Site & Location
Corner Location
Yes
Road Access
Yes
Additional Details
Asking Price
$1,490,000
Taxes and HOA fees
Annual Taxes
$11,242
Building Details
Building Size
12,088 SF
Year Built
1968
Listing Agency:
@properties Christie's Int'l R E Clarkston
(310) 667-1838
Listed By:
D'Anna Dettore
Source:
Thebrokeragehouse
Added: Aug 9
Changed: Aug 10
Last Checked: Aug 10 at 6:41AM
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 @properties Christie's Int'l R E Clarkston
Investment Insights
Based on property information with market context.
This retail space was built in 1968 and is positioned for commercial occupancy with parking, signage opportunities, and direct vehicle access. The owner is willing to provide build-to-suit improvements, allowing the interior to be adapted for a selected business operation. The property is zoned Commercial, Multiple.
Located at 34001 Groesbeck Highway in Clinton Township, the site occupies the signal-controlled intersection of Groesbeck Highway and Kelly Road. Its street presence places it along an active commercial corridor surrounded by national and established local retailers. Dense residential support is also identified nearby, adding to the surrounding commercial context. The property is offered for sale or lease and is described for retail, office, medical, restaurant, and service uses.
Located at 34001 Groesbeck Highway in Clinton Township, the site occupies the signal-controlled intersection of Groesbeck Highway and Kelly Road. Its street presence places it along an active commercial corridor surrounded by national and established local retailers. Dense residential support is also identified nearby, adding to the surrounding commercial context. The property is offered for sale or lease and is described for retail, office, medical, restaurant, and service uses.
Key Highlights
- Signalized intersection at Groesbeck Highway and Kelly Road
- Commercial, Multiple zoning
- Built in 1968
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
$126,732
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
8.45%
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%
$2,534,640
$2.5M
Cap Rate 7%
$1,810,457
$1.8M
Cap Rate 9%
$1,408,133
$1.4M
Market Conditions
NOI Build-Up for 12,088 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
$239.3K $19.80/SF
− Vacancy
−$28.1K −$2.33/SF
EGI
$211.2K $17.47/SF
− OpEx
−$84.5K −$6.99/SF
NOI
$126.7K $10.48/SF
Area
Macomb County, MI
Vacancy
11.75%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
40.00%
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%
$2,534,640
Cap Rate 7%
$1,810,457
Cap Rate 9%
$1,408,133
Alternative Uses
Best Use
Healthcare Medical
$1.81M
$1.58M – $2.11M
NOI $126,732 @ 7.0% cap · market cap 8.45%
Second Best
Retail
$1.28M
$1.12M – $1.49M
NOI $89,354 @ 7.0% cap · market cap 5.96%
Theoretical Best
Specialty Retail
$2.26M
$1.98M – $2.64M
NOI $158,415 @ 7.0% cap · market cap 10.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
466
Businesses Nearby
Explore this area
Business Placement
Demographics for 48035, MI
34,018
Population
15,615
Households
2.2
Avg Household Size
40
Median Age
20%
College-Educated
91%
High-School Grad
8.8 sq mi
ZIP Area
3,866
Density / Sq Mi
$69,245
Median Household Income
$41,167
Median Earnings
$1,111
Median Rent
$181,300
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Commercial zoning, signage opportunities, parking, and vehicle access serve a range of business formats.
Where is this retail space located?
The property is located at 34001 Groesbeck Highway Clinton Twp, MI.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: Signalized intersection at Groesbeck Highway and Kelly Road; Commercial, Multiple zoning; Built in 1968
